🔍 How to Find the Next CryptoPunks

Source: https://opensea.io/collection/cryptopunks

If we could travel back to 2018, would you buy CryptoPunks? Most investors missed out on that opportunity. I went through all the CryptoPunk tweets from 2018 to find the patterns that led to their success (and how to catch hidden gems in this bearish NFT market). Here’s what I found.

Let’s start by going back to 2018

CryptoPunks were so cheap that, for example, Erick Snowfro received one as a gift for his work.

You could buy a Monkey Punk for $2,000 (in 2022, an Ape CryptoPunk was sold for $7,700,000).

Derivatives were already emerging, but they were driven by a genuine love for the original collection, not a gimmick to launch a project.

Punks were showcased at the very first NFT-NYC event in early 2019. Yes, NFT-NYC existed before the bull market of 2021.

During my research, I stumbled upon many interesting moments worth sharing. But as I went through more and more old tweets, I noticed one consistent pattern that could be the key to profiting in this bearish market.

People who bought CryptoPunks in 2018 did so because they genuinely loved Punks. It wasn’t about pumping their bags within a month.

They didn’t care about sudden price surges; they had a real passion for what they were doing. They believed they were witnessing the future. And by being patient, they were proven right.

Imagine an NFT trader from 2023 sent back to 2019. They buy a Punk in January and get frustrated because it didn’t skyrocket to the moon by June. They would miss out on ALL the benefits.

In 2023, we’ve seen how quickly attention can shift. It was Nakamigos a month ago, now it’s meme coins, and next month it’ll be something new.

This happens again and again in Web3. Those who buy the hyped project of the month get burned. Meanwhile, a “boring” choice with a genuinely passionate community leads to success. (We didn’t even notice when BAYC took a week to sell out.)

In 2018, CryptoPunks was a niche project supported by a community of passionate holders. In 2023, I see Azuki, Pudgy Penguins, DeGods, and many others creating the same culture and emerging every single day.

Their teams and communities aren’t distracted by short-term hype. Instead, they focus on creating what they’re passionate about.

If you want to buy the next CryptoPunks, you need to buy something that you genuinely enjoy being a part of. Something you’ll be happy to hold for a long time to reap the deserved rewards in the future.

We all wish we could have bought Punks in 2018. But how many of us would buy the same project if we saw it now? To succeed in this bearish market, find undervalued gems and have patience. You’ll be rewarded in the long run.

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