The NFT sector has thousands of NFT collections. Among them, only a handful tend to dominate in terms of lowest price and overall market value. one of them, Boad Ape Yacht Clubhas seen serious competition from the old guards, Cryptopunksas the latter temporarily outscored the former as the NFT collection with the highest price floor.
This brief heist took place on August 21, 2022, when CryptoPunks hit a lowest price of 66.45 ETH, surpassing Bored Ape’s lowest price of 65.99 ETH. The Bored Ape collection quickly reclaimed its spot after that, but CryptoPunks is clearly vying for the top spot in the industry.
Both collections are heavyweights in the industry, with CryptoPunks being one of the first popular NFT collections and also setting the standard for ERC-20 assets. However, Bored Ape Club, released after CryptoPunks, took the top spot last December and, while maintaining its position, has also become a cultural and status symbol for NFT.
Interestingly, both NFT collections are now under Yuga Labs after the company acquired CryptoPunks earlier this year. As time goes on, it will be interesting to see the two collections continue to compete for market dominance and popularity.
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Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.