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300 CryptoPunks Worth $100 million Probably Lost Forever

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  • Out of 10,000 CryptoPunks created by the Larva Labs studio in 2017, not all of them still exist. In reality, as many as 300 Punks might be lost forever. CryptoPunks are among the most valuable NFTs in the market.
  • @punk9863 points out that since no activity has been observed in these accounts for three years, it can be assumed that these CryptoPunks are lost. 5 CryptoPunks among these 300 are confirmed to be lost forever because of their owner’s mistake.
  • At the current floor price, 300 CryptoPunks are assumed to be lost, worth $80 million or around 20,000 ETH. In case the Punks, if are not so-called floor Punks, would be worth around $100 million.

CryptoPunks are one of the most valuable and cherished NFTs in the market. Released in June 2017 by studio Larva Labs for free, the 10,000 profile picture has experienced disruption in its value over the years and has also grown popular among crypto enthusiasts.

At the moment of writing, for a sale of a Punk, the lowest price is 66 ETH or $258 000.

5 CryptoPunks Definitely Lost

As many as 300 CryptoPunks might be lost forever, according to a thread tweeted by @punk9863. Because of the owner’s mistake, 5 of these punks are definitely lost. However, there are just five known “burnt” Punks existing. 

Two Punks were burnt because they were sent to a malformed address, one “alien” punk was accidentally burnt by @ArtOnBlockchain, and the rest of the two punks were sent to the token contract.

https://twitter.com/punk9863/status/1475688604836016129

As pointed out by @punk9863, since there hasn’t been any activity on the wallet of owners of 300 CryptoPunks for the past three years, it can be assumed that these CryptoPunks are lost.

@punk9863 tweets, “Over 50 wallets that hold Punks haven’t done any transaction in the past 1000 days, including outside of the CryptoPunk marketplace,” One logical reason behind it could be that the wallet owners lost their private keys.

Four among these wallets own more than ten Punks. One holds 141 Punks. Together, these wallets hold close to 300 Punks which includes twelve “3D,” “zombie,” 26 “hoodies,” and five “Tiara.”

These CryptoPunks are among the rarest kinds and are considered the most valuable. All Punks are not equal.

Adding @punk9863 said,

 “Some collections are pretty dope, like 0x51306877c61df89ad7b165d6206eb636276d1083, the absolute 3D chad,”

CryptoPunk Lost Worth Around $100 million

The question is, are these 300 Punks actually lost? 

@punk9863 tweets, nothing can be said yet. However, the owners of these wallets haven’t done any transaction in more than three years. They could even claim their meer bits as they had an economic interest, sought after NFTs that owners get for free. 

Nonetheless, we could only assume that these Punks are lost. At the current floor price, the 300 lost punk is worth around 20 000 ETH or about $80 million at the time of writing. 

However, most of the CryptoPunks that are assumed to be lost if are not so-called floor Punks, then, in that case, their total worth would be around $100 million.

@punk9863 believes that this might be a low estimate, he says .” I’ve only taken wallets that have not transacted for over three years into account. Other estimates, based on unclaimed meebits, forecast over 500 lost Punks.”

In conclusion, there might be “only” 9500 CryptoPunks left.

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