Why is CryptoPunk NFT so expensive?

CryptoPunk is an NFT that is expensive because it is rare. It was created by a company called Rarebits, which has partnered with other companies like Coinbase and Consensys to create the most exclusive NFTs in the world.

CryptoPunks are digital assets that can be traded or used as collectibles. They are not really for trading purposes, but more for collectors who want to own one of the rarest assets in the world.

The rarity of these assets comes from how they were created – CryptoPunks were sold in batches of 10,000 units each with only 100 units per batch ever being available. This means that there are only 100 units left on the market and they will never be produced again, which makes them very difficult to find and very expensive.

The scarcity of the CryptoPunk NFT is what makes it so expensive.

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