CryptoPunks NFTs Find New Home in Non-Profit Foundation Amidst Market Shift

By Ahsan TariqMay 2025 at 7:15 AM

CryptoPunks, a pioneering collection of non-fungible tokens (NFTs), will soon be showcased at the new permanent exhibition space in Palo Alto. The decision marks a turning point in what’s fast becoming a brutal new reality for these formerly high-flying digital assets that once fetched multi-million dollar valuations. The foundation remains focused on protecting the cultural influence of CryptoPunks. It will accomplish this even as the NFT market cools off from its 2021 heights.

CryptoPunks were instrumental in initiating the NFT craze of 2021. Gaming brands such as Bored Ape Yacht Club and CryptoKitties followed closely behind helping to spearhead this invigorating movement. The collection features 10,000 different digital avatars. At the height of the NFT bubble, CryptoPunk tokens fetched astonishing prices on an individual basis. One standout sale in 2022 even exceeded $23 million in Ethereum! In fact, a number of famous teddy bears have sold for millions.

True, since 2021 sales charts for CryptoPunks have created a flat line. This stagnation is part of a larger trend of both values and trading volume in the NFT market plummeting. The non-profit foundation recognizes the important role that CryptoPunks has had in the development of digital art. Although it’s a challenging downturn, they acknowledge its historical scope and importance. The addition of CryptoPunks tokens into the Toledo Museum of Art’s collection further cements their importance within the ongoing art historical narrative. This new exhibition fits well with the established permanent traveling display in Palo Alto.

Yuga Labs, one of the biggest holders of CryptoPunks, will retain the right to its CryptoPunks characters under the IP license. In addition, all other CryptoPunks NFT holders will continue to own the right to use their unique CryptoPunks characters how they wish, within the newly established IP license.

We've worked to elevate and protect their legacy, but we always knew Punks needed a permanent home built for preservation. - Wylie Aronow

CryptoPunks sparked a cultural movement, and that the non-profit intends to “future-proof this landmark work.” - Micky Malka

Ahsan Tariq

Blockchain Features Editor

Blockchain analyst and editor specializing in NFT royalties and market data, Ahsan translates complex trends into accessible commentary, passionate about financial literacy, and an advocate for social good in digital innovation. He builds bridges between South Asian and global crypto communities. In his downtime, he’s a chess enthusiast and urban historian.