It all started with a few lines of code, without any sensational release or roadmap. In early 2018, Robi, the founder of the now-defunct early experimental NFT infrastructure platform Ark.Gallery, built a tool aimed at solving a growing problem in the NFT world.
CryptoPunks is a generative art series created by web3 studio Larva Labs in 2017, consisting of 10,000 pieces. However, it was not compatible with markets like OpenSea; they were launched before the ERC-721 token standard and relied on custom smart contracts, making them operate independently from the ever-expanding NFT ecosystem on Ethereum. This made it harder to buy, sell, or integrate into new platforms.
But the new project Wrapped CryptoPunks addressed this issue.
This open-source tool allows collectors to hold their original punks and obtain versions that adhere to the ERC-721 standard, with the works and provenance remaining unchanged. The wrapper makes it easier to list, buy, sell, and even use punk coins as collateral in lending protocols. The activity has increased, and the visibility has risen as well. Over time, Wrapped CryptoPunks (wPUNKS) has become one of the most widely used tools in the on-chain collectibles space.
At that time, there were no tokens, no venture capital, and no official launch—just a small contract that functioned as intended and is still in use today. Seven years later, Robi reflects on the early journey of this project, how it gained momentum, and why collectors and builders still rely on it.
In the words of the developers who built it, this is how it came to be.
OpenSea: Before the ERC-721 appeared, CryptoPunks lived in their own little world. What was it like to have such a system back then? What was the biggest quirk of the initial system?
Robi: A lot happened back in 2017. I remember Punks launched in June, and shortly after, CryptoKitties came along. At that time, my understanding of cryptocurrency was almost zero - I didn’t even know how to use a wallet. For a newbie like me, it was quite overwhelming.
It took me months to get familiar with cryptocurrencies and MetaMask. In 2018, I bought my first Punk. One of the most interesting parts was reading the messages on the Punk Discord, which was small but very active and fun at the time.
OpenSea: If CryptoPunks inspired the birth of the ERC-721 standard, does that mean they are somewhat like the 'beta version' of today’s NFTs? What was missing when the wrapper was initially created?
Robi: Personally, I don’t think they are beta versions. There’s some debate about whether they were among the first NFTs. There were some early experiments with non-fungibility (NFTs) before CryptoPunks appeared.
What I am certain of is that CryptoPunks elegantly demonstrate how to achieve non-fungibility through technology. The Punk contract is a beautiful piece of code; the ERC-721 standard was clearly influenced by it. But beyond technology, Punks created a desire to own, collect, and share - a cultural movement. The early CryptoPunks community may have been the first digital-native group to seriously explore digital ownership.
The wrapper doesn't actually 'fix' anything. To me, the CryptoPunks project itself is already perfect. The wrapper is just a tool or adapter that makes it compatible with modern infrastructure.
OpenSea: When you first set out to wrap CryptoPunks, when did you realize that it was actually feasible?
Robi: When we deployed the wrapper, we did internal testing and then announced it on Discord. We told everyone to be cautious - we didn't have enough funds for a formal audit. Fortunately, some community members stepped in and reviewed the code.
Months later, Matt and John from Larva Labs added a 'Wrapped Punks' section on the official CryptoPunks website (at that time, the domain was larvalabs.com). That was a significant moment.
Later, in 2021, the punk market exploded, and the usage of wrappers surged. I spent money hiring someone to audit it, considering the massive amount of data it handles across platforms. I thought it was necessary.
OpenSea: For those who have never encountered Punks, can you explain what was happening behind the scenes? What kind of digital magic was happening in these transactions?
Robi: At a high level, wrapping a Punk means sending it to a smart contract that acts like a vault, which holds the original Punk and mints a new ERC-721 token representing it – like a proxy or a receipt.
You can use the token just like any regular NFT. If you want to return to the original token, you simply destroy the wrapped token, and the contract will return your Punk.
OpenSea: Some collectors insist on preserving the original form of CryptoPunk, while others believe that wrapping is the only way forward. If CryptoPunk were a classic car, is the wrapping like adding power steering, or is it more like putting the whole car on a new chassis?
Robi: Every collector has their own philosophy. Strictly speaking, wrapping just means sending your punk coins to the contract address, not to user wallets - it is still your punk.
But I understand the allure of unwrapped punks. Some collectors prefer those with fewer transaction records, which may reflect a deeper emotional connection to previous owners or long-term holding, and some people value this.
OpenSea: What do you hope people will stop believing is the biggest misconception about Wrapped CryptoPunks?
Robi: To be honest, I didn’t have anything special in mind. If I had to say one thing, it might be the idea that wrapping would damage or compromise the image of the Punk, which it actually doesn’t. The process is completely reversible, and the original Punk image remains intact.
OpenSea: When Wrapped CryptoPunks was launched, did you anticipate its immense popularity? Was there a moment when you suddenly thought, 'Wow, what have we created?'
Robi: Absolutely nothing. I had no expectations; this was just a side project we did for fun. It took less than a week, and I thought it was really useful because you could immediately list Punks on OpenSea and use them on early NFT lending platforms like NFTFi.
I remember feeling really excited when I saw the punk series being wrapped and sold on OpenSea and Rarible. Prices skyrocketed, and because of the wrapping, the exposure of these collectibles increased significantly. Seeing such results made me feel very gratified.
OpenSea: Since Wrapped CryptoPunks is open-source, theoretically, people can adjust or build upon it. Are there any novel or unexpected derivatives that caught your attention?
Robi: One thing that comes to mind is the sleek and well-designed front-end interface of the wrapper contract, built by Niftynaut, an early community member and moderator of the Punks Discord. It was really practical and could replace our own front-end. For those wanting to interact with the contract without manual operations, it was a great option.
OpenSea: Seeing the CryptoPunks ecosystem transform from underground digital collectibles into a precious legacy in NFT history, especially after Yuga Labs took over, how do you feel about that?
Robi: Completely unexpected - especially on such a scale and in such numbers. Initially, it was just a niche experiment, and suddenly it turned into a cultural and financial phenomenon. I never imagined it would go this far.
OpenSea: Now that Wrapped CryptoPunks has established itself in the NFT space, do you think its story is over, or is there a new chapter waiting for us?
Robi: Although the NFT and punk markets have cooled down significantly since their boom in 2021, I still believe that CryptoPunks will continue to have a long-term impact. They are foundational to digital art history and helped shape our broader digital culture. I think this story isn’t over; it’s just entering a new phase.
#CryptoPunks #LarvaLabs #YugaLabs
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