PROJECT ON NFT

What are NFT
NFTs stand for Non-fungible tokens, which means that they are unique and can’t be replaced with something else. If we talk about a fungible asset, it is something with units of data that can be interchanged easily and quickly – for instance, money. [Source]
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In the digital world, most technocrats define non-fungible tokens as “one-of-a-kind” assets that can be bought and sold like any other property but have no tangible form of their own.

In most simple words, NFT is a unit of data on a digital ledger called Blockchain, where each can represent a unique digital item.

We have different types of NFT.
But am going to be talking on Cryptopunk

CryptoPunks
It is one of the high-grossing NFT projects and is considered to be one of the most simplified art forms for NFTs. Blockchain Experts and technocrats believe that it is a project that inspired the modern CryptoArt movement. CryptoPunks project enables its users to trade and store 10000 unique collectible characters generated uniquely using Proof-of-Ownership stored on the Ethereum Blockchain. By providing art ownership that can be transferred smoothly and continuously between users, this project is creating a decentralized digital art market. Its website describes itself as the first “NFT” on the Ethereum Blockchain network and an inspiration for the ERC-721 standard, powering most digital artworks and collectibles.

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TYPES OF CRYPTOPUNK

1. Apes,
2. Zombies
3. Alien.

The Importance of cryptopunk.

1 CryptoPunks began as an experiment
In 2017, Matt Hall and John Watkinson, founders of New York-based software company Larva Labs, created a software program that would generate thousands of different, strange-looking characters.
At first, they thought they might have had the makings of a smartphone app or game. What they ended up with was a paradigm-altering model for the digital art market and a challenge to the concept of ‘ownership’ itself.

2 Larva Labs launched CryptoPunks on June 23, 2017
The CryptoPunks are a collection of 24x24, 8-bit-style pixel art images of misfits and eccentrics. There are exactly 10,000 of them, each with their own ostensible personality and unique combination of distinctive, randomly generated features.

1. Each Punk has its own personality, thanks to distinct, randomly generated features, from glasses to caps to hoodies. Pictured above: CryptoPunks 58, 603 and 768, three of the nine works featured in Larva Labs' single lot offered in 21st Century Evening Sale on 13 May at Christie’s in New York

3.There are also eight Punks with no distinctive features at all sometimes referred to as Genesis Punks and only one with seven attributes: CryptoPunk 8348 a big bearded, bucktoothed, cigarette-smoking Punk with an earring and a mole, wearing classic shades and a top hat.

1. They were inspired by the London punk scene
   To Hall and Watkinson, there was a raucous, anti-establishment spirit to the early days of the blockchain movement. It was a vibe they wanted to reflect in the look of their Punks. ‘They needed to be a collection of misfits and non-conformists,’ they explain. ‘The London punk movement of the 1970s felt like the right aesthetic.’ The dystopian grit of cyberpunk as typified by the film Blade Runner and William Gibson’s novel Neuromancer, was also an influence.

2. Anyone and everyone can view any one of the CryptoPunks
   There’s a composite image of all 10,000 CryptoPunks on Larva Labs’ website. Anyone can save a copy of the image file to their memory stick or hard drive.

6.Each Punk also has its own page, detailing its special features and complete transaction history.

1. But only one person can officially own a CryptoPunk
   Official ownership of each work is outlined, in code described by one fan as elegant and beautifully written, in a contract on the publicly accessible Ethereum

8.Some CryptoPunks are rarer than others
As well as the human CryptoPunks, Hall and Watkinson — with a nod to popular culture archetypes — tweaked their software algorithms to generate a scarcer number of fantastical, non-human works, adding 88 green-skinned zombie Punks, 24 hirsute ape Punks and nine light-blue-skinned alien Punks to the series. Like their human counterparts, the non-human Punks have different combinations of accessories: one alien is smoking a pipe, for example, and has been dubbed the ‘wise alien’.

1. The collection of 10,000 Cryptopunks is definitive and unalterable
   In accordance with the nature of blockchain, once the project went live, Larva Labs couldn’t alter the existing series, even if they wanted to. ‘It’s odd to think of what might have been different if we had run the generator just one more time, or used the penultimate run’s output.

The creators regard each work as individual pieces of generative art, while allowing that the entire project itself might be thought of as a larger conceptual piece. ‘It’s possibly the first work of art with a self-contained mechanism for recording and transacting its ownership.

1. CryptoPunks inspired a community of collectors and connoisseurs
   Once minted, Hall and Watkinson offered the CryptoPunks for free, not forgetting to claim 1,000 for themselves, 'just in case it becomes a thing,' as Hall put it.
   blockchain. source

The step to take to start up cryptopunk

STEP 1: TURNING YOUR CASH INTO ETH
Cryptopunks are bought and sold in Ether (ETH) — the native currency to the Ethereum blockchain. So first thing’s first, you need to turn cash into ETH.

There are many different options when it comes to “onramps” into Ethereum — a fancy way of saying that you’re buying ETH and taking one step further into the Ethereum ecosystem. One of the easiest places to do this is on a popular cryptocurrency exchange called Coinbase.

Coinbase is a centralized exchange, meaning your money is “in their vault” so to speak. But Coinbase is a large and highly trusted company, and you will soon be moving your newly purchased ETH into your own (digital) hands.

That said, there are a lot of different onramps that come in all shapes and sizes — some are decentralized, some have higher fees, some lower fees, some that allow you to buy ETH directly “inside” a digital wallet. Be sure to do the research and find what onramp works best for you.

Setting up your Coinbase account
Once creating your account and verifying your identity on Coinbase, you can then buy Ethereum with a debit card, bank transfer or wire. These differ depending on your location. Typically linking your bank account is the quickest way to get things up and running.

STEP 2: MOVING YOUR ETH INTO A CRYPTO WALLET
Now you’ve got Ethereum in your Coinbase account. Amazing.

But in order to play on the Ethereum blockchain, you need to move that money into a digital wallet. That’s when you become the true owner and operator of your own cryptocurrency, and that is what leads to the many exciting new freedoms that this world brings about.

It’s kind of like in the olden days when you had to go to your bank and take out cash in order to pay for things. Coinbase is like one of those banks, and they’ve got this big vault with tons of crypto in there. And now you’ve come along and bought some Ether. So in their books they say, cool, Person A now owns X amount of the ETH in our vault.

But now you want to take that crypto out into the streets of Ethereum. You want to walk around, peruse, buy things. Once you transfer your funds to a digital wallet, you are no longer interfacing with the Ethereum blockchain through Coinbase. You yourself are interfacing with the blockchain, and that’s when things get really interesting.

The most popular digital wallet is Metamask. Again, there are a ton of options in this space. Some other wallets options include Argent, Rainbow, Exodus and Loopring. Be sure to do your own research and find the one that works best for you.

Setting up your Metamask
Metamask acts as Chrome browser extension, iOS app and Android app. It connects with most if not all websites built on the Ethereum network. You can interface with these platforms through your wallet in order to do things like sign up, verify your identity, buy things, sell things, hold your token inventory, and many more.

To setup your Metamask, first download and install it to your device. We will use the Chrome browser extension in this example. Once downloaded, click on Create A Wallet. You will then be asked to setup a password, and then you’ll be given what is called a Seed Phrase.

A seed phrase is a string of random words that acts as your last backup piece of security. Should you forget your password, or even if Metamask the product disappears off the face of the Earth, your seed phrase is your forever password to restore access to your wallet. So, keep it safe. It’s rather important.

Once inside, you can click on Account Details to retrieve your wallet’s address. Copy it to your clipboard, as you’ll need this to send your ETH from Coinbase to your wallet.

Sending your ETH from Coinbase to Metamask
Head on back to Coinbase and hit Send/Receive. You’ll get a popup like this. Paste in your wallet address that you just copied from your Metamask account, and choose how much ETH to send over.

STEP 3: CONNECTING TO LARVA LABS
Now you’ve got your very own digital wallet, and a chunk of ETH sitting pretty. Time to buy a punk.
The primary and secondary market for Cryptopunks exist on the Larva Labs website. But let’s be clear, even if the website larvalabs.com was to go down tomorrow, you and everybody else would still own and be able to trade their Cryptopunks. A platform built atop the Ethereum blockchain is simply an interface between you and the chain. So rest assured, these punks aren’t going anywhere.

Once on the Larva Labs site, there will be a link to connect your wallet to the site. Once you hit that, a dropdown will appear from your Metamask asking if you are sure you want to connect to the site.
Click Connect, and you are now able to buy a punk with your wallet. This. Is. Huge.

Once connected, a box on the right side of the screen will show part of your wallet address in pink. Click that and you get to your Account Details — this is where you’ll be able to see the punks you own.

STEP 4: MAKING THAT PURCHASE
Alright! You’ve found your punk. Time to buy!.

[source] [https://www.google.com/amp/s/www.one37pm.com/v/s/www.one37pm.com/nft/art/how-to-buy-a-cryptopunk-guide/amp%3famp_js_v=0.1&usqp=mq331AQHKAFQArABIA%253D%253D#ampf=]