What do I do with uPUNKS?
For users who want long exposure to CryptoPunks, but don’t have enough funds to buy one (over $40k each) or don’t know how to choose one, they can simply buy uPUNK on a decentralized exchange to gain exposure to the NFT collection in the form of an ERC20 token. They can buy more or sell it back whenever they choose.
For users who already own a CryptoPunks NFT and would like to reduce exposure to price fluctuations, they can sell uPUNK to effectively hedge their risk. In this way they can also keep their favourite NFTs without needing to deposit it into an index fund like NFTX and likely risk losing ownership of it.
And finally, for users who just think CryptoPunks are overvalued pixelated .jpegs and don’t get the excitement, they can mint uPUNKS with their ETH and sell it into a decentralized exchange to gain short exposure. uPUNK provides the crypto community an idea for a new tool to achieve exposure that was previously not possible in the NFT space.