Why is an “Alien Crypto Punk” worth ten million dollars?

Thursday 10th June, 2021 - Bruce Sterling

*Well, there are reasons.  They may not be great reasons, but they do exist.



In 2017, Matt Hall and John Watkinson, founders of New York-based software company Larva Labs, created a software program that would generate thousands of different, strange-looking characters.

At first, they thought they might have had the makings of a smartphone app or game. What they ended up with was a paradigm-altering model for the digital art market and a challenge to the concept of ‘ownership’ itself.

Larva Labs launched CryptoPunks on June 23, 2017.

The CryptoPunks are a collection of 24×24, 8-bit-style pixel art images of misfits and eccentrics. There are exactly 10,000 of them, each with their own ostensible personality and unique combination of distinctive, randomly generated features….