WHY CRYPTOPUNKS ARE [STILL] VALUABLE

Summary from the TLDR Crypto newsletter

Though NFTs have seen much less interest than in the previous bull market, they represent the evolution of how artists and collectors can place meaning on a work – by permanently inscribing it in a blockchain, timestamped at the moment, a collector realizes its importance. At the same time, the art industry is slowly developing the knowledge to value and distinguish NFT collections from one another. The movement of speculation from NFTs to memecoins has flushed out most of the market's inflated prices. As one of the original PFP collections, CryptoPunks is a market leader responsible for many of the trends and characteristics that future collections will use for inspiration, cementing its status as a pivotal work.