How to Buy CryptoPunks NFT
CryptoPunks is one of the first Ethereum-based non-fungible token (NFT) projects. It comprises 10,000 24 by 24-pixel images created by an algorithm with random qualities, such as a man wearing a baseball cap or smoking a cigarette.
There are even rare non-human characters, such as aliens, apes, and zombies!
Although you could get a CryptoPunk for free (less a transfer charge), the scarcity and growing demand for NFTs of its kind have caused the price of these digital images to soar.
John Watkinson and Matt Hall, the creators of Larva Labs, came up with the idea. It began as a test when they were experimenting with a pixel character maker and generated 10,000 different punk characters, each with its own distinct personality, style, and concept.
- 1 What Is an NFT?
- 2 Why Buy a CryptoPunk NFT?
- 3 Step One – Set Up Your Crypto Wallet
- 4 What Other Digital Wallets Support CryptoPunk Purchases?
- 5 Step Two – Buy Ethereum
- 6 Step Three – Browse the CryptoPunk Collection
- 7 Step Four – Buy Your Very Own CryptoPunk NFT
- 8 Final Thoughts on Buying a CryptoPunk NFT
What Is an NFT?
Before we get into how to buy a CryptoPunk NFT, it may be helpful to first understand what an NFT is and why collectors around the world invest in them. NFTs or non-fungible tokens are essentially one-of-a-kind digital assets that are bought and sold online.
A virtual asset that depicts real-world elements such as in-game accessories, art, music, and other media is known as an NFT. They’re acquired and traded online, using cryptocurrencies.
Even though they’ve been in existence since 2014, non-fungible tokens are growing in popularity as a convenient means to buy and sell electronic art. Since November 2017, a whopping $174 million was spent on NFTs worldwide!
Why Buy a CryptoPunk NFT?
Firstly, NFT investors believe the commodities and technology used in these digital assets have long-term potential. They expect their NFTs to rise in value over time, just like any other investment.
However, holding NFTs also provides a type of social wealth. Like wearing a one-of-a-kind Rolex or driving a limited-edition Lamborghini, the social standing and approval from the crypto world that comes with possessing a renowned NFT make it a worthy investment.
People do not pay hundreds of dollars for a Rolex because of its practical value in the physical world. A $5 wristwatch might be used for the same purpose. Instead, it’s to assert their social standing.
Likewise, investors can instantly assert a similar social standing in the digital world with an NFT by sharing it as their avatar on social media. It provides the same impression as wearing a limited-edition Rolex has in person, but it’s done digitally.
Suppose you’re hoping to invest in this popular NFT but don’t know how to acquire it. In that case, we’ve compiled a comprehensive, step-by-step guide to help you buy your first CryptoPunks NFT. Follow the steps below to make a CryptoPunk character your own!
Step One – Set Up Your Crypto Wallet
To purchase a CryptoPunk NFT, you must first acquire Ethereum (ETH) because it is the cryptocurrency you’ll need to purchase CryptoPunks. This means that you’ll need a crypto wallet that supports Ethereum.
A Little Bit About Crypto Wallets
Crypto wallets essentially help you store cryptocurrencies and are also used to send and receive them. As mentioned before, to buy CryptoPunks NFTs, you’ll need a crypto wallet that supports Ethereum.
You’ll also need to link this digital wallet to Larva Lab’s site to buy a CryptoPunk. Metamask is by far the most widely used crypto wallet for acquiring a CryptoPunk NFT, as its Google Chrome plugin makes it simple to connect with cryptocurrency-related sites.
Moreover, collectors are encouraged to store their NFTs in an Ethereum wallet to keep them safe. Software and hardware wallets are the two major forms of Ethereum crypto wallets. Computer software tools called software wallets, such as MetaMask and Coinbase, store a user’s cryptocurrencies and NFTs online.
Hardware wallets are actual devices that retain your cryptocurrencies and NFTs offline and are the safest solution to keep your virtual treasures safe. Because most hardware wallets can hold multiple coins, you’ll only need to purchase one.
However, these hardware wallets are generally far more expensive than software wallets, which is why more people choose software wallets. In this guide, we will provide you with detailed steps on how to set up a software wallet with MetaMask.
Get Started with Your MetaMask Wallet!
If you’ve never set up a crypto wallet, follow these simple steps:
1. Visit the MetaMask website and click on “Download Now.”
2. To download the browser extension, you will need to click “Install MetaMask for Chrome.”
3. Next, click on “Add to Chrome” and “Add Extension.”
4. You will then need to follow the prompts to create your MetaMask account.
5. To do this, find the MetaMask icon in the top right corner and click on it.
6. Next, you can either “Import Wallet” or “Create a Wallet”.
7. Create a password for your account and click “Next.”
8. Accept the terms and conditions and click “Reveal Secret Words.”
9. You will then receive a 12-word passphrase that you will need to access your digital wallet. Be sure to keep this passphrase safe because you will lose access to your crypto wallet if you lose it.
10. MetaMask will then ask you to verify that you have stored the passphrase safely by asking you to solve a puzzle.
That’s it! It really is as easy as that to set up your very own crypto wallet!
What Other Digital Wallets Support CryptoPunk Purchases?
We highly recommend using MetaMask to buy CryptoPunk NFTs. However, if you’re having trouble setting up a MetaMask account, you can also use a Coinbase wallet or a hardware wallet like Ledger Nano S.
Coinbase’s digital wallet is among the safest and most reliable on the market. It now allows you to see your virtual collectibles right in the Coinbase Wallet application, thanks to the firm’s recent addition of support for NFTs.
The wallet’s user interface also allows you to interact with dApps (decentralized applications) directly. DApps are essentially Ethereum-based apps that will enable users to engage with cryptocurrency and NFTs without requiring a trading account.
With this functionality, you can trade NFTs, collect interest on cryptocurrency, and trade digital tokens all from your crypto wallet.
Ledger Nano S
Since 2014, a company called Ledger has been producing crypto hardware wallets. It is renowned for its ability to support multiple currencies, with more than 1,000 crypto assets being supported. You can hold any ERC-721 NFT in this hardware wallet because it accepts Ethereum-based tokens.
On Amazon, the Ledger Nano S costs a little over $50, making it an accessible option for most NFT enthusiasts. On the company’s official website, the Ledger Nano X is available for $119 if you need a more sophisticated hardware wallet.
Step Two – Buy Ethereum
Before buying a CryptoPunk NFT, you will first need to buy Ethereum and store it in your crypto wallet. You can’t buy NFTs on an exchange because these digital assets are still relatively new to the digital market.
Instead, you’ll have to buy NFTs using Ether, the ETH blockchain’s native token. Next, you will have to move your crypto tokens to your Ethereum wallet when you have enough Ether to buy a CryptoPunk.
Buy Ethereum with MetaMask
If you’ve set up a MetaMask account, buying your cryptocurrency directly from the site is the easiest way to acquire Ethereum. Follow the steps below to fund your crypto wallet using MetaMask:
1. Download the MetaMask application.
2. Import your crypto wallet to the device and log in using the passphrase you obtained when setting up your MetaMask account.
3. You will then be taken to the homepage. Find the “Buy” option and click on it.
4. Next, select the payment method you would like to use to buy Ethereum and follow the prompts.
5. Select Ethereum and the amount in USD that you would like to add to your crypto wallet and click “Buy Now.”
6. The site will then need to verify that it’s you and send you an email with a verification code.
7. Complete the transaction by entering the relevant details as requested.
You will now have Ethereum in your MetaMask crypto wallet to use for a CryptoPunk NFT purchase.
Buy Ethereum on an Exchange
Another great way to buy Ethereum is through a cryptocurrency exchange. You will first need to set up an account with the platform and fund the account before you can make a purchase. We have included a step-by-step guide below.
- Choose a crypto exchange and visit the official website.
- On the homepage, find the section that says something like “Sign Up Now.”
- Complete the registration form by entering your full name, email address, and phone number.
- Next, the site will need to verify you. This can be done in a number of ways. Most sites will send you an email verification or verify you over the phone. However, others may require you to submit documents. Follow the instructions to complete the verification process.
- Once you’ve completed this process, your account will be active. To use it, however, you will need to first fund it.
- Most crypto exchanges allow users to fund their accounts in a number of ways, such as bank transfers, credit or debit card payments, and PayPal.
- Select your preferred payment method and follow the prompts to complete the transaction.
- Next, find the “Buy Cryptocurrency” option, enter the amount of Ether you wish to purchase and complete the transaction.
- Transfer your cryptocurrency balance to your crypto wallet.
You will now have Ethereum to purchase a CryptoPunk NFT! Keep in mind that every exchange is different, so if you’re having trouble setting up your account or buying Ether, get in touch with the platform’s customer support.
Step Three – Browse the CryptoPunk Collection
Before making your NFT purchase, head over to the CryptoPunk official website and browse through the CryptoPunk NFT collection. The truth is that these NFTs are one of the most popular NFTs and are often described as the best NFT investment of 2022.
You may now explore the Punk Characters section on the official website. There are several different types of CryptoPunks, each with its own unique attributes and qualities. Check out the “For Sale” page to view over 1,000 unique Punk characters that are currently for sale.
When you’ve selected the CryptoPunk NFT you like, it’s time to make a purchase!
Step Four – Buy Your Very Own CryptoPunk NFT
If you’re ready to make your investment, follow these steps to make that CryptoPunk NFT yours!
1. Log in to MetaMask and keep your digital wallet open in your browser.
2. On the CryptoPunks website ( , find the option that says, “Allow Access to MetaMask,” and click on it.
3. Next, you’ll see a pop-up window. Click on “Next” and then “Connected.”
4. You will know that your Ethereum wallet is connected to CryptoPunks if you see a tab that says, “Connected to Ethereum.”
5. Select the CryptoPunk character you wish to invest in and click “Buy.”
6. A pop-up window will appear on the screen, providing you with more details, such as how much the NFT will cost and what the gas fee is.
7. When MetaMask lets you know that you have sufficient cryptocurrency to buy the NFT, click on “Confirm.”
8. Follow the prompts to complete the transaction.
Congratulations! You have bought your first CryptoPunk NFT!
You may buy most NFTs this way. However, others welcome offers and don’t have a fixed price. Your transaction will be completed via the Ethereum blockchain, and the CryptoPunk NFT will be delivered to your digital wallet if the seller accepts your offer.
The majority of postings accept Ethereum as payment, while some accept alternative Ethereum coins, such as stable coins.
In recent years, the average cost of a CryptoPunk NFT has been over $400,000. These NFTs are extraordinarily expensive virtual treasures due to their scarcity and high demand.
Final Thoughts on Buying a CryptoPunk NFT
Because these NFTs are in such high demand, they are an excellent investment in 2022! When it comes to buying cryptocurrencies or digital assets, many people are apprehensive. However, that doesn’t have to be the case.
The truth is that buying an NFT isn’t as hard as you might think, and with our helpful step-by-step guide, you can set up a digital wallet, buy Ether, and make that CryptoPunk NFT yours!