Punk Basic PUNK-BASIC
DescriptionPUNK-BASIC is an NFT based index fund backed by CryptoPunks, and created by NFTX as one of its D1 funds. PUNK-BASIC is backed by any CryptoPunks NFT. This fund allows any CryptoPunk to be deposited as collateral. It acts as a floor price tracker for the entire CryptoPunks category. CryptoPunks is a Non-Fungible Tokens (NFTs) project created by Larva Labs. There are only 10,000 unique CryptoPunks. As the NFT markets started to gain more attention, the price of CryptoPunks has been increasing exponentially. The main allure of CryptoPunks was their historical relevance as the first-ever NFTs on Ethereum. Larva Labs offered the CryptoPunks for free in 2017. All users had to do back then was to learn how to interact with Ethereum and claim it. CryptoPunks are 24x24 pixel art images generated algorithmically. CryptoPunks are punky-looking guys and girls. Rarities of certain traits and types of characters enhance the collectible appeal of CryptoPunks. Other than guys and girls, there are a few rarer types - Apes (24), Zombies (88), and Aliens (9). Thanks to the blockchain, every punk has its profile page packed with information: attributes, ownership history, and for-sale status. Users can check the whole history of buy and sell of the CryptoPunks, and even the Ethereum addresses that own the most CryptoPunks. This level of transparency is unheard of in the traditional art world.