There’s a 300th cryptopunk who has been lost forever. He went to bed one night and never woke up the next morning. The question is: What happened?
These 300 CryptoPunks may be lost forever. This is because the original address for them has been changed and they are no longer found in their original location.
CryptoPunks are some of the most coveted and valuable NFTs available. The 10,000 profile photo NFTs were released for free by the Larva Labs studio in June 2017 and soon became famous within the crypto community, skyrocketing in value over time. At the time of writing, the lowest price for a Punk on the market is 66 ETH, which is almost $258 000.
But are there really 10,000 Punks on the market right now?
Without a doubt, 5 punks have perished.
According to @punk9863’s twitter thread, as many as 300 CryptoPunks might be lost forever; five of them are confirmed to have been lost owing to the owner’s faults. In fact, there are just five “burned” Punks known to exist. @ArtOnBlockchain accidentally burned one “alien” Punk, two Punks were sent to the token contract (a terrible error that effectively burned the token), and two Punks were transferred to a faulty address and so burned (an equally bad mistake).
Because there has been no movement on their owner’s wallet for the previous three years, we may conclude the remaining 300 CryptoPunks are gone, as @punk9863 pointed out. @punk9863 tweets, “Over 50 wallets holding Punks haven’t done any transaction in the last 1000 days, even outside of the CryptoPunk marketplace.” One likely explanation is that the wallet owners misplaced their wallets (private keys).
141 CryptoPunks were held in a lost(?) account.
More than 10 Punks may be found in four of the wallets. There are 141 Punks in one of them. There are about 300 Punks in these 50 wallets, which include one “zombie,” 26 “hoodies,” twelve “3D,” and five “Tiara.” These CryptoPunks are among the rarest and are thought to be more valuable than others. Punks aren’t all created equal.
“Some collections are very amazing,” @punk9863 says, “like 0x51306877c61df89ad7b165d6206eb636276d1083, the ultimate 3D chad.”
Punks worth $100 million are missing.
Are these 300 punks really stranded? It’s hard to tell what @punk9863 tweets, but their owners haven’t traded in over three years, despite having a financial incentive to at least claim their meebits, sought-after NFTs that were given out for free to crypto owners.
CryptoPunk #2838 is known to be permanently lost.
Regardless, the market can only conclude that those Punks are no longer with us. At the current floor price for Punks, which is the lowest price for any Punk, the 300 or so presumed lost Punks are valued over 20 000 ETH ($80 million) at the time of writing. Many of the presumed missing CryptoPunks, on the other hand, are not so-called floor Punks, in which case the total value should be far over $100 million.
This might possibly be a low estimate, according to @punk9863. “I’ve only considered wallets that haven’t transacted in over three years.” According to some estimates based on unclaimed meebits, over 500 Punks have gone missing.”
Overall, it’s possible that “only” 9500 CryptoPunks remain.
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