Bored Ape Yacht Club caught up with CryptoPunks and flipped the reserve price-

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OpenSea stated that the cost of the cheapest Bored Ape NFT sold is estimated to be US$215,067 or 53.9 ETH (Ether), while the basic asking price of CryptoPunk is 52.69 ETH, which is currently worth US$210,239.

There is an assumption that the probability of Bored Ape flipping CryptoPunks is related to the lowest NFT cost for the entire month. Recently, Cointelegraph conducted an in-depth study of the expected aspects that may affect the value of a classification.Regardless of whether the owner prefers protected intellectual freedom or specific joint efforts and associations, any of the main driving forces behind NFT Project, “blue chip” or not, is its domain.

There are some key differences between these two sets to keep in mind. Larva Labs, the developer of CryptoPunks, pioneered the creation of NFT in 2017. The project has historical significance and has long occupied a dominant market position in terms of transaction volume. This is also related to the brand and its popularity in the market. Only companies, excluding the owners of CryptoPunks, are allowed to use their avatars for commercial, branding or marketing purposes. Larva Labs and Hollywood agency UTS have joined forces to leverage the image of CryptoPunks in mainstream media.

However, Yuga Labs, the company behind the Boring Ape Yacht Club, is more practical and more focused on the community. From the latest partnership with Adidas Originals to growing popularity in mainstream media and celebrities, Bored Apes’ attention and appeal are growing, and the price of its series is also growing. In addition, since Yuga Labs has provided them with complete intellectual property rights from the beginning, the Ape owner has complete creative and commercial licenses for their materials.

According to a statement issued in October, Boring Ape Yacht Club (BAYC) hopes to issue its own tokens in the first quarter of 2022. The fact that the reserve price of BAYC NFT has risen more than CryptoPunks for the first time means that the public is optimistic about the future of BAYC. Contrary to the continued decline of CryptoPunks, the reserve price has been slowly increasing in the past few months.

Healthy competition, as in any dynamic market, can be beneficial. RTFKT Studios is a competitor of CryptoPunks and Bored Ape Yacht Club and is rapidly gaining popularity. The collaboration between artist Takashi Murakami and Clone X of RTFKT Studios won the second place in OpenSea transaction volume at the time of release.

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