If a user has 30 units of the cryptocurrency Ethereum, i.e. $50,000, they can exchange it for a handcrafted pendant pendant under Cryptopunk. The bottom line is that you can use them as NFTs but they also have real value.
Made by the Tiffany Company, these beautiful pendants are set with 18 carat gold chain and diamonds or precious stones. Another pendant is studded with a total of 30 diamonds or equivalent gems. Thus, the price of a cryptopunk pendant is equal to two million Pakistani rupees.
But these real pendants can only be purchased by those who own the NFTs of the pixelated avatars, i.e. cryptopunk. Currently, 10,000 Cryptopunk designs are digital designs. According to analysts, the purpose of creating the precious pendant is to offset the falling cryptocurrency and NFT market across the world.