Resurgence of v1 CryptoPunks
With the recent meteoric rise and attention on historical NFT’s, v1 CryptoPunks has piqued the interest of 'NFT archaeologists', collectors and speculators. Although there has always been a small minority who have known of v1 CryptoPunks’ existence, only recently have they come to the fore.
To be clear, v1 CryptoPunks are the original and first contract created by Larvalabs and preceded their famous Cryptopunks NFTs. They are identical to their v2 brothers and thanks to a new wrapper they can be wrapped as ERC-721s and safely traded on popular NFT marketplaces. They are not derivatives, nor copies nor fakes.
The v1 CryptoPunks contract immutably exists on the blockchain and their provenance is without dispute.
For a long time v1's went under the radar, only traded sporadically in private transactions. In early 2017 @0xfoobar created a 'wrapper contract', a way to wrap the tokens into ERC-721 compliant tokens and patch over the contract bug. The wrapper imparted a slight change to the image (adding a reddish-orange ribbon in the top left) but leaving the core image intact. More recently an improved wrapper was developed by @FrankPoncelet and @simo_eth to match a dedicated marketplace for v1 Punks.
With the development of this marketplace and wrapper, the stage is set for v1 Punks to make their comeback.
v1 Punkers love art and community. They are positive and welcoming. v1's are a polarising topic with some wishing they never existed and others loving that they do. Their history and place in the CryptoPunks story cannot be disputed or erased however, and that is significant. The blockchain cannot be reversed.
Per @nftstrategies in this Twitter thread, “What we are buying is attention, in the form of a story. The buyers (of) #v1Punks aren’t challenging the power of Larva Labs, we raided their dumpster and found precious treasure. This real, indelible token has one of the best stories of all NFTs and true historic provenance.

New Wrapper & Marketplace

The new wrapper contract, which offers improvements upon previous iterations, will be supported by a dedicated fee-less marketplace allowing users the opportunity to safely trade and interact with their v1 Punks.
How does this wrapper contract work, you wonder? Well, to wrap, you have to safely nestle your ERC-20 v1 Punk into the wrapper contract. It spits out a lovely ERC-721 with complete metadata and is then tradable without vulnerability via popular marketplaces. The wrapper colours the background of your Punk by default in a soft purple hue and the marketplace will display different colours depending on the current status of the Punk, just like Larva Labs' v2 CryptoPunks.
Note: CryptoPunks don't actually have a background colour as the art is transparent, so by adding one via the wrapper we aren't modifying the original art, merely differentiating v1's from their v2 brothers to avoid confusion. Of course, users can unwrap their v1 Punk at any time and receive the original, untainted art.
The new marketplace will be the primary hub for safely trading v1's with features added progressively as the project grows in exposure. In addition, users can list, buy, bid and sell for wrapped v1's on popular marketplaces such as LooksRare and Rarible. The new marketplace will also act as insurance policy for v1 Punks to survive and thrive, avoiding any sort of third-party censorship on marketplaces, as has been seen in the past with Larva Labs & OpenSea.
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