If You Invested $1,000 In Ethereum When CryptoPunks Were Released, Here's How Much You'd Have Now

Zinger Key Points
  • CryptoPunks launched in 2017 as one of the first Ethereum-based NFTs.
  • At the time of the CryptoPunks launch, Ethereum hit a high of $348.01.
If You Invested $1,000 In Ethereum When CryptoPunks Were Released, Here's How Much You'd Have Now

Many well-known cryptocurrencies had impressive runs in 2021. Ethereum ETH/USD was a big gainer in 2021 going from $737.71 to $3,682.63.

Here’s a look at how Ethereum has done since the launch of one of the biggest and most well-known NFT collections of all time.

What Happened: Larva Labs launched CryptoPunks on June 23, 2017. The collection of 10,000 24x24 pixel art images built on the Ethereum blockchain is now one of the biggest non-fungible token collections.

The project was not an early success but has quickly become the standard among NFT collections attracting investments from celebrities and investors alike.

While the price of Ethereum is down 68% in 2022, investing in the cryptocurrency based on the historical NFT launch would still be a profitable trade.

Related Link: Best FTX Alternatives: How To Keep Your Crypto Safe 

Investing $1,000 in ETH: At the time of the CryptoPunks launch, Ethereum hit a high of $348.01.

A $1,000 investment in Ethereum on this historic day could have bought 2.8735 ETH. That investment from 2017 would be worth $3,498.72 today based on a price of $1,217.58 at the time of writing.

The investment would be up 250% in five years and five months. This represents a hypothetical annual return of 46.2% over the time period.

At the time of writing, CryptoPunks have a floor price of 65.9 ETH, or around $80,114.

Read Next: Biggest NFT News Ever? Bored Ape Yacht Club Parent Yuga Labs Acquires CryptoPunks And Larva Labs Rights

CLICK HERE to sign up for Benzinga's Future of Crypto conference on Dec. 7 in New York City. This is the BIGGEST day of the year for crypto enthusiasts, entrepreneurs, investors and networkers to discover the #1 crypto ideas you can use today — directly from hundreds of industry insiders and dozens of project creators.

Photo: Shutterstock

 

Posted In: CryptoPunksLarva LabsNFTNFTsnon-fungible tokensCryptocurrencyEducationTop StoriesMarketsGeneral

Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month