From Digital Origins to Global Impact: The Journey of CryptoPunks

Originally created in 2017 by Larva Labs, CryptoPunks is a pioneering NFT collection consisting of 10,000 unique characters that challenged the foundations of digital art. By redefining the ideas of ownership, community, and artistic expression, it left a significant cultural mark well beyond the blockchain.

NODE’s Vision: Preservation, Community, Expansion

NODE aims to preserve the legacy of CryptoPunks through three guiding principles: preservation, community, and expansion. In this scope, the foundation is building a digital infrastructure that will enable these works to be studied, displayed, and contextualized within art history.

The project is backed by an advisory board of prominent figures in the field:

• Matt Hall and John Watkinson (CryptoPunks creators, Larva Labs)

• Wylie Aronow (Co-Founder, Yuga Labs)

• Erick Calderon (Founder, Art Blocks)

Micky Malka, Chair of NODE, stated: “CryptoPunks ignited a cultural wave at the intersection of code, community, and commerce. We are creating a sustainable structure for its preservation at a museum-grade level.”

The founders of Larva Labs commented: “It was important for us that CryptoPunks stand as a symbol of decentralization and digital permanence. NODE is the ideal home to carry that mission forward.”

Wylie Aronow of Yuga Labs added: “Our goal wasn’t just to hold the IP—it was to elevate it. With NODE embracing this responsibility, the collection now truly finds its rightful home.”

10,000 Pieces, One Major Exhibition

Although CryptoPunks generated over $377 million in secondary market volume in 2024 alone, it remains underrepresented in the traditional art world. NODE is now taking steps to shift this narrative.

Following a curatorial process led by creators Matt Hall and John Watkinson, the entire CryptoPunks collection will be showcased at NODE’s permanent exhibition space in Palo Alto. This venue will also run a live Ethereum node to ensure on-chain accessibility and permanence.

A Historic Milestone in Digital Art

NODE becomes the first nonprofit organization to acquire full IP rights to a major internet-native artwork. Backed by strong financial support, NODE now stands as the most well-capitalized nonprofit in the U.S. dedicated solely to digital art.

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On December 21, data tracking platform CryptoSlam reported that Ethereum-based NFTs experienced a 76% increase week-on-week, reaching $201 million in sales. This represents 66% of the total NFT sales volume over the past seven days.

In comparison, Bitcoin-based NFTs recorded $40 million in sales, while Solana-based collections reached $29 million in sales. Mythos Chain, Immutable, Polygon, and BNB Chain collectively recorded a weekly volume of $25.9 million.

This weekly record also surpassed the previous NFT sales record of $296 million set in September, when digital collectibles saw their lowest monthly sales volume since 2021.

Ethereum Collections Lead the NFT Rankings

Last week, seven out of the top 10 NFT collections by sales volume were Ethereum-based.

Pudgy Penguins collection topped the week with a sales volume of $54.4 million.

In second place was the project’s LilPudgys collection, which recorded approximately $20 million in sales.

7 Out of The Top 10 NFT Collections For The Week Are Ethereum-based Collections

The Azuki NFT collection saw a 130% increase compared to last week, reaching $18 million in sales volume.

The project’s Azuki Elementals collection recorded a 226% week-on-week increase, achieving $7 million in sales.

Popular NFT collections like Doodles and CryptoPunks also made it into the top 10 collections by sales volume last week. Doodles recorded $13 million, while CryptoPunks achieved a sales volume of $7.4 million.

NFTs Maintain Momentum from Early December

NFT weekly volumes have been strong since the beginning of December. Digital collectibles recorded $187 million in sales during the first week of the month, with the Pudgy Penguins collection leading the week with $25 million in sales.

While Pudgy Penguins NFTs dominate in volume, the collection’s crypto token has not shared the same success. On December 17, the Pudgy Penguins (PENGU) token dropped by over 50% after its launch.

According to CoinGecko data, the token is currently trading at $0.03, which is about a 55% decrease from its peak price.

In just 21 days, December’s NFT sales volume reached $678 million, surpassing the previous month’s record of $562 million.

This sales record makes December the highest-performing month for NFTs since May, when the market saw $602 million in sales.

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NFT sales, which had been on a decline since March, hit their lowest point in September, marking the weakest monthly sales volume since 2021. However, the market began recovering in October and saw a 57% month-on-month increase in November, with total volumes exceeding $562 million.

Ethereum Leads With $92M Weekly Sales Volume

Ethereum recorded over $92 million in weekly sales, representing a 44.69% increase from the previous week. The surge was largely driven by collections like Pudgy Penguins and CryptoPunks, which posted significant sales volumes.

• Pudgy Penguins saw a massive 346% increase from the previous week, with $25 million in sales. DefiLlama data shows that the collection’s floor price rose from 13 ETH on Nov. 30 to 20.9 ETH (approximately $83,000) by Dec. 8.
• CryptoPunks followed, taking the second spot with $16.5 million in weekly sales. Its floor price briefly hit 44 ETH on Dec. 4 before settling at 40 ETH (around $160,000) by Dec. 8.

Other Blockchain Networks and Market Overview

• Bitcoin-based NFTs came in second, recording $43.8 million in weekly sales.
• Networks like Solana, Immutable, Mythos Chain, Polygon, Cardano, and Flow collectively accounted for $47 million in sales.

Ethereum Price Breaks $4,000

This rise in NFT activity coincided with Ethereum’s price breakout. On Dec. 6, ETH surpassed $4,000, reaching a high of $4,067. An analyst noted that Ethereum is entering a new bullish phase, predicting it could repeat the impulsive breakout seen between 2016 and 2017, potentially reaching $15,000.

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