Online art retailer Avante Art has teamed up with Yuga Labs, the brand owner of CryptoPunks, to provide a unique opportunity for holders of CryptoPunk non-fungible tokens (NFTs).
For a limited 48-hour period, individuals who own these digital art items can acquire physical prints of their prized NFTs. The partnership, announced on October 26, signifies a groundbreaking collaboration between the two entities, with the sale commencing at 3:00 p.m. UTC on October 26 and concluding at 3:00 p.m. UTC on October 28.
Avante Art is offering two distinct collections of printed CryptoPunks. The first collection, known as “Punk-On-Chain,” allows each CryptoPunk owner to commission a print copy of their digital punk. However, to be eligible for this service, users must provide proof of ownership of the on-chain version, ensuring that print copies remain exclusive to legitimate owners.
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The second collection, titled “10,000 On-Chain,” is a compilation of prints featuring all 10,000 CryptoPunks, and it is accessible to anyone interested. This means that collectors can purchase print versions of a 10,000 On-Chain punk even if they do not own the original on-chain variant, democratizing access to these iconic artworks.
Distinguishing between the two versions of each printed punk is essential. The 10,000 On-Chain prints are characterized by being Archival pigment prints with a silkscreen varnish seal, while the Punks-On-Chain prints are UV pigment prints with white underpins. Both variants include a Yuga Labs holographic sticker, serving as a mark of authenticity.
Furthermore, the Punks-On-Chain prints feature a QR code on the back, leading to a blockchain-based digital Certificate of Authenticity (CoA). In contrast, the 10,000 On-Chain prints come with a physical CoA that contains a QR code leading to the digital CoA. Importantly, the QR code does not appear on the print itself in this collection.
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CryptoPunks holds a special place in the history of digital art. Developed by the Larva Labs studio, it was one of the pioneering collections of algorithmically generated art distributed through blockchain technology. Originally released in June 2017, these digital artworks were initially available for free to any Ethereum network user interested in minting them. Fast forward to today, and the lowest-priced CryptoPunks are valued at around $78,000, with the entire collection boasting a market capitalization exceeding $782 million, based on data from Coinmarketcap.
In a significant development, Larva Labs transferred the copyrights for CryptoPunks to the NFT development team at Yuga Labs in March 2022, solidifying their ownership and the future of this iconic digital art collection. This partnership between Avante Art and Yuga Labs further underscores the evolving landscape of NFTs and their intersection with the traditional art world, bridging the divide between the digital and physical realms of art.
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