How CryptoPunks Inspired a Wave of NFT Avatars

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As one of the earliest examples of non-fungible tokens, CryptoPunks have become the most coveted NFT avatars in existence. Subsequent projects have sought to develop the concept of NFT avatars while retaining the fundamental concepts that made CryptoPunks so successful.

The Original NFT Avatars
In 2017, software developer Larva Labs created 10,000 cyberpunk-themed characters, each one unique, algorithmically generated, and living on the Ethereum blockchain. They were distributed for free to anyone willing to pay the gas fee to receive one.

While CryptoPunks might look unassuming on the surface, each character possesses several attributes such as clothing and accessories that occur in the set with varying degrees of rarity. For example, almost one-quarter of all Punks have an earring. On the other hand, only 1% sport a top hat, making Punks that have this accessory much more sought after.

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