The total market capitalization of all 10,000 CryptoPunks—which are widely considered to be the “OG” non-fungible tokens (NFTs)—has reached over $1.95 billion, according to a research report published by the University of Nicosia’s Institute For the Future (IFF).
“NFTs are already a multi-billion dollar industry, in part due to pioneering work by Larva Labs, the creators of CryptoPunks,” noted the university’s CEO Antonis Polemitis. “We believe that, over time, NFTs will extend from arts and collectibles to represent a wide range of assets, services and communities.”
At this rate, NFTs as a whole will generate trillions of dollars in value by the end of the decade, he added, all in a digitally native format.
CryptoPunks and the NFT boom
NFTs have been the breakout success story of the recent crypto boom. These cryptographically unique, non-interchangeable tokens can be minted as one-of-a-kind offerings or in small batches, and associated with content such as imag
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