It was initially released with 10,000 CryptoPunks. They were then sold to the secondary markets. Users discovered an important smart contract vulnerability that allowed Punks to withdraw Ether.ETH) post-purchase. Larva Labs, the creator of V1 Punks, withdrew their recognition and fixed the issue, releasing the current v2 Punks collection. However, the creators also send mixed messages by selling dozens V1 Punks.

The Copyright vs. copyright: The battle for supremacyThe CryptoPunks V1 collection continues to heat up, as images have recently increased in market value. Larva Labs filed a DMCA Take-down NoticeOpenSea, v1 members and others responded with their own. Larva Labs intentionally coded smart contracts so that one collection (v1) can’t be deleted without also removing the other (v2). Both communities remain deeply divided on the topic.