Saturday, June 25

A Tale of Two NFTs: Could Bored Ape Yacht Club Outperform CryptoPunks? By CoinTelegraph

© Reuters. A Tale of Two NFTs: Could Bored Ape Yacht Club Outperform CryptoPunks?

Rising from its modest minting price of 0.08 Ether (ETH), the Bored Ape Yacht Club (BAYC) has risen to non-fungible token (NFT) stardom, competing with one of Larva Labs’ earliest NFT examples, the CryptoPunk.

Given its steady but amplified growth, BAYC has many crypto natives speculating that their collection will eventually “reverse” CryptoPunks, and there are several reasons to back it up.

Considering which collection is NFT’s main competitor, the competition between these two collections is driven by several factors. With an existing divide between the adoption of the mainstream media and the intellectual property rights granted to their owners, the BAYC and CryptoPunks collection also has a disparate number of unique holders. This is important because the number of unique holders often indicates a wider variety of owners, which means that you are less at the mercy of a single sale that dictates the total or minimum value of the projects.

Read the full article on Cointelegraph

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