Got your eye on a CryptoPunk? It might be time to buy one

“It’s hard to understand the value of these things,” Empire host Santiago Santos admits, but a CryptoPunk is an icon that will remain a “grail” in any collection

article-image

mundissima/Shutterstock modified by Blockworks

share

Despite the cooling sentiments in the NFT market, certain blue-chip collections have managed to remain relatively buoyant, maintaining a degree of market appeal. 

Floor prices on CryptoPunks, the top tier of all NFT blue chips, have never looked so enticing to many potential collectors. Jason Yanowitz notes the collection now sits at an approximate 45 ETH floor and asks, “Is now the right time to buy a Punk?”

“I’m seeing a lot of group chats,” Yanowitz says. “People are asking the question.”

“It’s a very difficult question to answer,” Santiago Santos responds, explaining it mostly depends on the buyer’s intentions.

“Are you collecting? Are you investing?”

On the Empire podcast (Spotify/Apple), angel investor and long-time Punk holder Santos admits, “I don’t think of them as investments.”

“I personally just collect stuff that I really like.”

Santos is partial to “hoodie” Punks which, at the time he purchased them, seemed to be an underappreciated attribute representing hacker culture, he says.

“It’s hard to understand the value of these things,” Santos admits, but a CryptoPunk is an icon that will remain a “grail” — a top-tier piece that tends to attract higher value — in any NFT collection, he says.

The collector notes he’s still on the hunt for more CryptoPunks. “I have earmarked and bookmarked ten Punks that I would want to buy.”

His acquisition strategy involves delving into the seller’s history, he says. 

“I want to understand this behavior of, maybe this person bought it for 300,000 bucks. And at the time it corresponded to X amount of ETH.”

“If I offered the same amount of ETH or if I offered the same dollar amount, he’s at least going to break even.”

Yanowitz mentions past advice he’s been given regarding buying strategy: “You either buy a  grail or a floor.”

Sweeping the floor

For Santos, it’s about adding unique pieces to his collection, whereas floor purchasing — buying the lowest-priced NFTs in a collection — tends to be more of an investment play. 

“People are sweeping floors and they’re making a bet that the floor for a particular collection is going to go up,” he says.

“It’s more of the investor type that says, on a relative basis, Punks have really come down a lot,” he says. “At their peak, they were three times more. It’s kind of like a levered ETH bet.”

With the cheapest CryptoPunk currently priced around 45 ETH, Yanowitz asks if it’s worth spending a little more ETH for one with attributes the collector finds more appealing.

“At the end of the day,” Santos answers, “you don’t want your wallet littered with shit you don’t like.” 

“I never want to buy stuff because someone tells me it’s worth a lot.”

Santos reiterates that for him, it’s not necessarily about investment. “My hoodie Punk, I’m never gonna let go. I’m not gonna sell that.”

“Just be mindful,” Santos advises, “people are gonna know exactly what you bought it for.”

“Buy with a clean wallet, so people don’t know who it is, or it’s tied to other stuff that you’re doing.”

“Sometimes it’s good to collect and just keep your head down.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Monad SR Report Graphic.png

Research

Monad is a new Layer 1 blockchain designed as a high performance, EVM-compatible platform.

article-image

Engineers from MetaMask, Coinbase, Google, and the Ethereum Foundation make the case for onchain AI agents via ERC-8004

article-image

Legacy payments firm partners with Anchorage Digital to issue a dollar-pegged token under new US stablecoin law

by Blockworks /
article-image

As Solana ETFs launch but network REV trends lower, Jito sits at the intersection of new capital inflows and microstructure improvements

article-image

The Truth Social parent will integrate Crypto.com Derivatives North America, allowing users to trade prediction contracts under federal oversight

by Blockworks /
article-image

Partnership surpasses $2 billion in staked assets and adds support for new Proof-of-Stake networks

by Blockworks /
article-image

The tokenization leader will merge with Cantor Equity Partners II, becoming the first public firm focused on securities tokenization

by Blockworks /