Yuga Labs gets ownership of CryptoPunks Wrapper. What does this mean?

原文作者： twitter @0xWatell

Yuga Labs recently acquired ownership of CryptoPunks Wrapper. What does this mean?

An easy-to-understand Thread

On the 18th of this month, the CryptoPunks official released this somewhat inconspicuous news:

"Yuga Labs has now acquired the ownership of the CryptoPunks Wrapper as part of the 'Punks Restoration Project'."

Yuga Labs' moves have been closely watched by the market, but the news didn't seem to make much of a splash.

https://twitter.com/cryptopunksnfts/status/1648327745561305091

The reason is probably that the information does not bring much benefit to the holders - it is like a drop that can be sold for money.

But this seemingly mundane news still has a very interesting and interesting story behind it, which records and reflects some of the historical problems of CryptoPunks,

If you're interested in one of the greatest projects in NFT history, read on.

First, a key point to understand:What is the CryptoPunks Wrapper?

CryptoPunks Wrapper/ Cryptoppunk wrapper, which is made of @robi_air  And his team. "NFT Packaging site" created for crypto punk holders.

Tips: The link in this tweet is an old version of the site made by ArkGalleryDAO. https://wrappedpunks.com

So what is "packaging"?

As the name implies, you can send your CryptoPunks to be hosted in a "Wrapper Contract/ Wrapper contract" using Wrapper, and in exchange you get an ERC-721 NFT with the same number.

That is, by using the CryptoPunks Wrapper you can implement: CryptoPunks for ERC-20 and CryptoPunks for ERC-721.

The curiosity of NFT players is rampant, so I guess you have a question: Why convert CryptoPunks to ERC-721?

Great question!

The answer is that many of the current derivative applications related to the NFT do not fit ERC-20, so we have to convert CryptoPunks into ERC-721 to enjoy the convenience of these applications.

It makes sense, right?

Also, if you get bored after "wrapping" your CryptoPunks, you can reverse the process by "unwrapping/unwrapping" and turn the ERC-721 back into the ERC-20.

"Keep the classic flavor of crypto punk"

Through this mechanism, about 700 to 800 CryptoPunks have been "packaged" so far,

Wrapped CryptoPunks with fewer than 800 wrapped Cryptopunks had a total turnover of 282,817ETH, while BAYC with 10,000 wrapped Cryptopunks had a total turnover of 1,020,519 ETH.

That is: if the base is the same, Punk's transaction volume is three times that of BAYC

https://opensea.io/collection/wrapped-cryptopunks

Why does this happen? @punk9059

  "Blur's airdrop agriculture has been a major boost," the tweet explains.

Stimulated by $BLUR, Wrapped CryptoPunks' turnover has exploded since March.

"You pass it to me, I pass it to you, never tired of it."

https://twitter.com/punk9059/status/1640892955123912704

That is some information about the CryptoPunks Wrapper.

Another thing of particular interest: If you're very interested in "crypto punk culture," you've definitely noticed that in addition to Wrapped CryptoPunks and CryptoPunks, there's also a Collection called "CryptoPunks V1 (wrapped)."

What is it?

https://opensea.io/collection/official-v1-punks

As a matter of fact, When CryptoPunks first launched in June 2017, there was a huge error in their contract: NFT buyers could withdraw the fee once they had paid it and made a successful purchase.

In other words: "The money that should have appeared in the seller's wallet can be withdrawn by the buyer, and the seller not only loses the money, but also loses the NFT."

https://twitter.com/0xfoobar/status/1374604091263905794

This was a huge mistake, so Larva Labs launched an updated V2 CryptoPunks and dropped all the NFT into the new contract address.

But the old V1 Punks still exist, and to solve this problem, the developers turned "V1 CryptoPunks" into today's "CryptoPunks V1 (wrapped)" using the "wrapping mechanism" we discussed earlier.

Since then, there have been two identical sets of CryptoPunks in the blockchain world: V1 and V2.

There isn't much difference between them, and perhaps the most crucial part is this: only the V2 is approved by Larva Labs.

Larva Labs has been trying to erase V1's existence, to erase this huge mistake, but that's the beauty of NFT -- unchangeable, unique.

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