Why did I buy a Cryptopunk [In a Bear Market]?

GM frens, 3695 here.

This is what 69.95 ETH can get you.

Once things have calmed down, I’d love to share more information about why I chose Punk over Ape. Why now? Some say the peak of the bear market, and why I consider it the best (*not only!) investment at the moment. Of course, some thoughts on the future!

*It is a clan, a way of life, and an extremely supportive and successful community. Calling it an investment because:

• a) you never know what the future holds and you may be forced to sell;
• b) I firmly believe it is a contribution to future generations (in case Ethereum does not fall apart).

LFG!

Why Punk?

Punks have always been and will always be considered THE FIRST. “How about Quantum or Cryptokitties?” someone might ask. Fine, if you’re interested in the history of NFTs, please read this amazing story written by my team at RZLT.

For the sake of simplicity: Cryptopunks are a collection of charming and unique 10,000 pieces of digital art. I am from a town of about 30,000 people. In global terms, my hometown is extremely small. Even there you can barely cover the third of the population owning a punk (not to mention the lost ones which are estimated to be up to 500).

10,000 pieces / 8,000,000,000 people worldwide = welcome to the 0.000125% club. For the uninitiated, there are wallets that hold more punks, but you get the idea!

I love the Apes and consider their lore and what they’ve created with Koda’s and Otherside to be true masterpieces of storytelling, but having been a part of the NFT scene since its inception, I’m somehow drawn to the concept of pixelated characters.

I am not an Ape adversary. I know a lot of them, and they’re a friendly bunch. Furthermore, the purchase of an Ape in the future is not ruled out. However, these are my thoughts until I am convinced otherwise.

Why now?

At the time of writing, the crypto bear market is in full swing. Some believe we have another year or year and a half to go. High inflation rates, a core recession, a war in Ukraine, supply chain disruptions, and traditional financial instruments that do not reflect the true global situation.

So, where should I “park” my wealth?

1. I’m not a big fan of real estate because it keeps me in one place and provides low returns for my tastes.
2. Despite rising interest rates, there is no trust in banks. Consider what happened in Greece when people were unable to withdraw their own money.
3. Gold? Difficult to store and move. I believe its scarcity is fabricated.
4. I HAD A GUT FEELING THAT I WANTED TO BE A PART OF THIS MOVEMENT.

Note. Please do not attempt to explain this logic to anyone over the age of 45. I’ve heard you won’t make it.

Now, punk makes total sense (not a financial advice)

I’ve been in the space since 2017 and can’t imagine my life/career without web3. Punks are an important part of this scene, and I intend to keep this one as long as possible and even try to buy more.

Business opportunities and easier access to people and resources for all of my current and future professional endeavours.

Was it better to buy 4+BTC? Maybe, but as one of the great men once said in response to my post:

Follow this man for great content, he is an OG.

Thoughts for the future

I already knew several punks, particularly my friends Valko and Tony, so I have no doubts that we are on the right track.

Punks are both past and future. History because they were one of the first projects, and future because I know the insiders and their abilities, as well as their burning desire for freedom. Their ongoing contribution to the space, as well as their affiliation with the punk movement, is simply enchanting.

Utility? My opinion on the utility is based on the Yuga Labs terms — you have the right to use your punk however you see fit. Furthermore, it allows you to be recognised instantly. At the end of the day, when it comes to NFT projects, it is ultimately about the people involved, not the utility. What more could one ask for?

In four years, 6 ETH becomes 70. What will happen in the next 20 years? Btw, follow this guy as well, there’s a lot to learn.

The future appears to be promising. More people are showing interest in web3, which presents an excellent opportunity for us, the punks, to drive mass adoption. Our involvement in the space and innovation will make onboarding much easier. We will continue to collect jpegs and welcome you all to this wonderful world.

I believe in various NFT types (e.g., dynamic and PBT, among others). Things change, as they should! But keep in mind that if you own a punk, you own a piece of history.

Punk for life, baby!