Bored Ape Yacht Club more expensive than CryptoPunks

A few days ago, the minimum price of NFT from the Bored Ape Yacht Club (BAYC) collection surpassed that of the famous Crypto Punks for the first time.

Data from OpenSea shows that the minimum price of the BAYC collection was 54 ETH, while the minimum price of the NFT from the CryptoPunk collection was 52.8 ETH.

In other words, we witnessed the first flippancy in the NFT world, where the most expensive collection officially became the Bored Ape Yacht Club.

Commenting on the case, Bobby Ong, co-founder and COO of CoinGecko, outlined three reasons why he believes this has happened.

Firstly, he said, BAYC has generous intellectual property rights compared to Punk. Indeed, BAYC token holders receive certain intellectual property rights associated with the tokens. They are using these rights to create a blockchain-based game and have partnered with Animoca Brands to do so.

The second reason is quite simple - many celebrities have backed the project. FT superstar Stephen Curry bought the Bored Ape NFT in August for $180,000 and is just one of the celebrities who were involved in this NFT collection.

27/12/2021 - Mr.Advice NEWS

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