In the NFT sector, there are thousands of NFT collections. Among them, a handful tends to dominate in terms of price floor and overall market value. One of these, the Bored Ape Yacht Club, has seen some serious competition from the old guard, CryptoPunks, as the latter briefly unseated the former as the NFT collection with the highest price floor.
Punks Vs. Apes
This brief usurping took place on August 21, 2022, when the price floor of CryptoPunks clocked in at 66.45 ETH, eclipsing Bored Ape’s 65.99 ETH price floor. The Bored Ape collection regained its position soon after but it is clear that CryptoPunks is a contender for the top spot in the industry.
The two collections are both heavyweights in the industry, with CryptoPunks being one of the first popular NFT collections and also setting the standard for ERC-20 assets. However, the Bored Ape Club, which was released after CryptoPunks, actually unseated it from the top spot last December and had held on to the position while also becoming a cultural symbol for NFTs, as well as a status symbol.
Curiously, both NFT collections are now under Yuga Labs after the company acquired CryptoPunks earlier this year. It will be interesting to see the two collections continue to compete for market dominance and popularity as time goes on.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.