If You Invested $1,000 In Ethereum When CryptoPunks Were Released, Here's How Much You'd Have Now

Many well-known cryptocurrencies had impressive runs in 2021. Ethereum ETH/USD was among the big gainers in 2021 up nearly 400%. Part of the increase in the rise in valuation could be credited to the rise of non-fungible tokens. 

What Happened: Larva Labs launched CryptoPunks on June 23, 2017. The 10,000 NFT series featured 24x24 pixel art images built on the Ethereum blockchain.

The project was not an early success but has quickly become the standard among NFT collections attracting investments from celebrities and investors and even Visa Inc V.

CryptoPunks was highlighted as one of the first NFT collections and celebrated on Sept. 20, 2022 as part of the first-ever International NFT Day. 

While the price of Ethereum is down 65% in 2022, investing in the cryptocurrency based on the historical NFT launch would still be a profitable trade. 

Related Link: CryptoPunks Land Deal With Largest Talent Agency: What Investors Should Know About Groundbreaking Deal

Investing $1,000: At the time of the CryptoPunks launch, Ethereum traded under $350. On June 23, 2017, Ethereum hit a high of $348.01.

If you invested 1,000 in Ethereum on this historic day, you could have bought 2.8735 ETH. That investment from 2017 would be worth $3,870.81 at the time of writing, based on a price of $1,347.07 for Ethereum. 

That would mark a return of over 287% in five years and two months.

CryptoPunks outperformed Ethereum and Bitcoin BTC/USD in 2021 and currently have a floor price of 63.95 ETH or around $85,900.

An investment in any of these assets at the time would have produced strong returns.

Image: Photo by Nick Chong on Unsplash / Courtesy CryptoPunks