CryptoPunks Are The BEST Financial Assets in the World Currently. Here's Why.
You can hate it or love it, but you can't deny it. The numbers have been astronomical. Here's why CryptoPunks are currently the best financial asset to hold in the world.
The Talk2Much Podcast Episode of the Week:
The World of Women NFT Collection (feat. Yam Karkai)
The World of Women NFT collection is one of the hottest collections in the world. They are currently being supported by the NFT influencer, Artchick, as well as Gary Vaynerchuk. The entire Gary V team has been hyping up the World of Women NFTs all week, so I thought it was time to do an in-depth look on what this collection offers and why it’s so special.
An NFT collection with beautiful, unique art that also emphasizes diversity and inclusion? That’s the World of Women NFT collection. The artist behind the collection, Miss Yam Karkai, will join me to discuss her art collection and her thoughts on the NFT community. Episode will be out Wednesday.
The T2M NFT Jump Episode of the Week:
EPISODE OUT ON TUESDAY ON TWITCH: My NFT partner and I, Christian Vasquez, will cover:
-NFTs market movers of the week: what were people buying this last week?
-The CryptoPunks burst and what this means for the NFT industry: Are they the best financial asset in the world?
-Loopify dropped plots of land to his upcoming game/metaverse: Treeverse. What do we think?
-Gary V announced VeeFriends Series 2 coming out Labor Day? Thoughts?
-Animetas drop and VOGU drop
-Is a skill-based video game model more prevalent in blockchain gaming than a build-based video game model?
When you think of what the BEST financial asset in the world would be, you’d think it would be some grandiose piece of land that has a unique history. You’d think it would be a metal found once every 100’s of years or an abundance of gold hidden somewhere deep in this world.
… Or you could be a normal person who doesn’t take psychedelics and you’d be arguing about whether it’s Ethereum or Bitcoin.
I genuinely hope you’re one of those people, because that’s who this article is tailored to.
For those of you arguing Ethereum vs. Bitcoin as the most important and BEST financial asset in the world, you’re all wrong…
…you’re all wrong because… at this moment in time…
the BEST financial asset in the world is…
… a digital JPEG of 1/10,000 pixelated characters created by Larva Labs in 2017, known as the CryptoPunks.
Yes… these things. CryptoPunks.
These digital JPEGs are better financial investments than your house. And no, I don’t care how big it is lmao. Let’s get into it.
CryptoPunks: The Best Financial Asset in the World at the Moment
So let’s start off with what I usually start off with. Let’s define “BEST”.
I define BEST as “income producing asset”.
So when I say which financial asset is the BEST in the world, I mean which financial asset can you buy that produces the most income for you.
As of right now… that is a CryptoPunk and I don’t even think its that arguable.
Other Financial Investments Aren’t As Profitable?
NO, other financial investments aren’t as profitable at the moment. Notice I’m saying at the moment, because we don’t know what will happen with the crypto/NFT market. There could very well be another bear market, so let’s be realistic.
There’s a saying… Everything that goes up at some point, must come down at some point.
CryptoPunks and NFTs will go through a correction and adjust their value on the open market.
There’s another saying though… everything that was once up but went down… must go up again…
(I literally pulled that out of my ass.)
No matter what bear market NFTs go through, if you did your research on NFT technology and its future, you will have proper conviction throughout the bear market.
Wealth is built in bear markets, not bull markets people.
The value of CryptoPunks is set in stone and will continue to soar higher and higher, as NFTs become more and more mainstream.
Real Estate? Stocks? You’re Saying A DIGITAL JPEG Will Make Me More Money Than Buying A Property?
First of all, let’s make something clear: none of this is financial advice, so no that is not what I am saying…
No, actually that’s exactly what I’m saying. Yes, these digital JPEGs are currently more profitable than any property you can find on the planet. Why?
Real estate transactions take a LONG time to process. You won’t receive your returns off a real estate transaction for months. According to Forbes, the average return on COMMERCIAL real estate deals the last 20 years is 9.5%.
I made sure to mention COMMERCIAL, where real estate agents make more money than residential transactions.
You can literally just buy and sell a CryptoPunk on OpenSea in a matter of seconds. Reach out to people in Discord to see if there are any buyers for your NFT. The transaction process is so much more simple that it gives Punks and NFTs with that kind of value, a significant advantage in determining the highest income-producing asset.
People were minting CryptoPunks for hundreds of dollars in 2017. The floor for the cheapest CryptoPunk currently sits at 32.53 ETH, which is $86k.
You can do the math on the returns you make on those investments.
Where Punks Separate Themselves
The transaction speed and simplicity is a big advantage for Punks versus other financial assets in the world, but its not the… biggest… (I hate saying that phrase).
It’s the secondary market sales.
I mean… just imagine being Larva Labs and watching millions of dollars in transactions go flying around everyday…
YOU CAN EARN ROYALTIES OFF SECONDARY SALES WITH NFTS!!!
For every Punk that is sold, a percentage of that sale goes to the creator. Do you guys understand how absolutely asinine that is?!
Gary V just spent 1,600 ETH (4.2 mil) on a CryptoPunk over the weekend. Imagine 10% of that going to the creator. That’s a HEFTY amount. Not to mention, this was just ONE large sale.
The smallest sale right now is going to be $86,000 at absolute floor price. 10% of that is still over $8k which is nuts to think about.
There has been 2,902 ETH worth of transaction volume for the CryptoPunks… OVER THE LAST 24 HOURS! Think of how much money the creators made off secondary sales IN THE LAST DAY.
How does this relate to every other buyer though? It doesn’t necessarily, it just shows what a successful NFT collection can do (which is why everyone should learn this technology). But what we CAN talk about… is the rise in the price for CryptoPunks over time.
Rise in Price Over Time
And now… the juicy part..
There is no financial asset out there… not Ethereum… not Bitcoin… not other NFTs… not any real estate property… that has risen in value like the CryptoPunks have since their genesis.
According to Cryptoslam, the average sale for a CryptoPunk in June 2017 was 0.2051 ETH. This was when they debuted and that comes out to roughly $59.95.
In July of 2021, the average sale for a CryptoPunk comes out to 41.8 ETH. That’s $96k per CryptoPunk transaction. The AVERAGE CryptoPunk transaction will run you just under six figures.
Holding that financial asset for a couple months, or 1-2 years, will bring you financial returns that you can’t even dream of. Think of what CryptoPunks are worth now, compared to what they were worth just ONE year ago.
Not to mention, CryptoPunks are the most popular collection on OpenSea in terms of activity AND rankings, so you never have to worry about a consumer base.
If you hold a CryptoPunk and you want to sell it for an absurd amount of money, buyers will flock to you.
How many financial assets in the world can you say that about?
Have a nice week beautiful people.