Non-Fungible Tokens – the most heard term by crypto lovers in recent times. One won’t belong to the crypto community if the individual isn’t aware of NFTs. Its pace is steadily enhancing day-after-day to unleash its exhaustive potential. The massive recognition of NFTs all over the globe kick-started right from the creation of Cryptopunks. In order to understand the concepts of Cryptopunks, it is essential to know what NFTs are. However, you could catch a glimpse of both NFTs and Cryptopunks in later parts of the piece. This blog is written with an aim to connect the entrepreneurs who are seeking out an opportunity in the blockchain industry to create an NFT-Based Platform like CryptoPunks.
NFTs – The Coin Of The Future Realm:
We all would have heard about Bitcoins. The introduction of Bitcoins in the market brought alongside the fear of trust and virtual depletion while utilising it. In order to overcome these shortcomings, the non-fungible tokens came into existence. These are also termed crypto-collectibles, which are unique, indivisible and most importantly, non-interchangeable. It can be used to denote both tangible and intangible assets. The protocols of these virtual tokens will be managed by smart contracts. This data makes each token unique, thereby making it non-interchangeable in nature. This means unlike normal fiat currencies or other cryptocurrencies, one NFT could not be exchanged with another NFT as both will not hold the same value. Also, it doesn’t permit the user to send a part of its value, thereby making it indivisible in nature.
In short, NFTs can either be a form of virtual assets or a tokenized form of real-time assets. Its innate nature makes it stand as proof of authenticity and ownership in the digital world.
The Summary Of Cryptopunks:
Previously in 2017, Cryptopunks were brought into existence, which is algorithmically conceived 24×24 pixel art images. It is the first digital collectible minted on ETH blockchain even before Cryptokitties. It entirely pioneered NFT space and became one of the splendid inspirations for ERC-721 tokens. It is asserted that there are about 10,000 unique Cryptopunk characters with proof of ownership on the ETH blockchain. The majority of the punks are human beings, while it also includes some special punks comprising aliens, apes, and zombies. The supply will never go beyond 10,000 NFTs as the code in blockchain (decentralized) cannot be edited even by the creators. Though all the Cryptopunks are created and sold already, it is possible to trade on secondary NFT marketplaces. The highest ever sold NFT in history is a Cryptopunk, which is one of the aliens (Cryptopunk 7804) that sold for about ETH4200 ($7.5 million approx.). It is the guaranteed scarcity that makes Cryptopunks so expensive.
Build An NFT Website Like Cryptopunks:
The Cryptopunks clone is a platform that runs productively on the Ethereum blockchain where the end-user can buy crypto-collectibles and also holds the proof of ownership and copyright authorities. The entire characters would be different, and none will match with each other. A compatible digital wallet would be incorporated in order to safeguard the crypto tokens. The addition of striking and captivating characters would magnetise the crypto community towards the clone platform. In short, building an NFT website like Cryptopunks would gain wonderful business traction.
Merits Of Cryptopunks Clone:
The various merits of NFT-based platform like Cryptopunks include,
- Strictly No Replications: As each NFT is unique, there occurs no chance for duplication issues. It is entirely authenticated.
- Stable Market: Investing in NFTs at this period of time would be the right choice as the market is not volatile like other crypto assets. It is highly stable.
- Proof Of Ownership: NFT stands as proof of ownership for virtual arts and collectibles.
- Effortless Trading Experience: The NFT-Based Platform like CryptoPunks offers a simple and effortless NFT trading experience.
- Highly Transparent: The platform holds a high level of transparency as all proprietorship records are permanent.
The Concluding Thoughts:
It is no doubt that NFTs are on the right track to revolutionize the crypto industry. Also, the Investors are in full swing to support such businesses. Progressively, industries and businesses are starting to integrate blockchain technology and crypto services in their operations. This would definitely bring NFTs a giant demand. With such wide future scope, building an NFT-Based Platform like CryptoPunks would become a splendid business.
Now, you might have confusion as to where to get it done. You cannot figure out a better place than Cryptocurrency Exchange Script. Our experienced blockchain developers, cutting-edge solutions, state-of-the-art technology, quality assurance, and on-time delivery make us the best suit. We take utmost responsibility right from designing to extensive testing so as to give life to your thoughts of developing your own NFT-based Cryptopunk clone.