CryptoPunks vs. BitMart

CryptoPunks is a collection of NFTs on Ethereum. It consists of 10,000 unique avatars. Each avatar follows a unified format: 24×24, 8bit style, and irregular pixels. However, because the avatar is automatically and randomly generated by an algorithm, each Punks has different parts, accessories, and background colors. The dimensions are different, which also gives them different scarcity. All NFT images are publicly visible. Once an address obtains ownership of an avatar, it will be permanently recorded on Ethereum.

The project was launched by Larva Labs studio in June 2017. As one of the first famous NFT projects, CryptoPunks inspired many digital artists and even promoted the development of the ERC-721 token standard for digital collectibles. At first, these punk villains were distributed to the public for free. Since then, these artworks have soared in popularity with the entire NFT market, becoming one of the most popular and expensive NFT series in 2021, and have long occupied the top five positions in the transaction rankings. On June 10, 2021, the world-renowned Sotheby's auction house auctioned Cryptopunks #7523, which sold for a sky-high price of US$11.75 million.

BitMart is a global digital asset trading platform, or trading market, where traders come to trade as buyers and sellers, often called market traders and market takers. For clarity, buyers and sellers transact with each other, and the BitMart is not involved in the actual transaction. Users can log in to the BitMart, its related application program interface or mobile application (website) to obtain the services provided by the BitMart. ​

Disclosure: Trading involves risks. The risk of loss from trading or holding digital assets can be substantial. Therefore, you should carefully consider whether you are suitable to trade based on your financial situation.

regulatory environment

We understand that regulatory agencies have adopted a variety of approaches to supervise and standardize digital assets, including defining or classifying digital assets as convertible virtual currencies (U.S. FinCEN) or virtual commodities (Hong Kong). As a trading platform, we believe that all digital assets provided on the BitMart platform belong to innovative alternative asset classes, and therefore, digital assets should not be called money or currencies. ​

Disclosure: Digital assets are not money or legal tender. Digital assets such as Bitcoin and Litecoin are not backed by any government or central bank. At different times we may have some insights into the regulatory approach adopted by various government agencies; however, we will always fully comply with the rules and regulations of the countries in which we operate. At the same time, we regularly discuss with regulators and peers the best ways to regulate digital asset businesses. Additionally, BitMart does not accept certain customers. In order to maintain a good reputation in the market and ensure a strong compliant market, we have decided not to serve customers from Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador and Kyrgyzstan client. The latter four countries have currently banned activities involving digital assets.

We cooperate with government authorities and comply with applicable regulations. As a good corporate citizen, law enforcement may request information from us and we will assist if the law permits a law enforcement investigation to pursue and deter illegal activity. This also means that our platform is only available to law-abiding customers. We hope to provide you with services, and at the same time, we also hope that you can act in accordance with the law on our platform. ​

After the successful development of BitMart, it quickly occupied the market share. We believe that the BitMart core team will create miracles, and we will wait and see on the road ahead.