And since the announcement, sales of CryptoPunks NFTs have jumped over 1200%.
Background: Bored Ape Yacht Club is one of the most famous NFT collections. Ya know, those NFTs of apes in a range of different costumes and personalities?
What happened: There are only 10,000 Bored Apes. But unlike other digital files... these NFTs are different. With the Ape comes access to the exclusive Yacht Club - one where Eminem, Paris Hilton and Jimmy Fallon hang out.
What else: Now, the company behind Bored Apes, Yuga Labs, has acquired the rights to CryptoPunks and Meebits (other major NFTs). And since the announcement, sales of CryptoPunks NFTs have jumped over 1200%.
💡When it comes to NFTs, there are no strict rules for what they need to do - or how they are meant to be. So, often we find that different NFT projects have different structures.
💡Bored Apes ain't just a digital image, it's a ticket into an exclusive social organisation, with exclusive features and perks. CryptoPunks on the other hand... its only value is the digital image and a bit of street cred.
💡CryptoPunk holders are looking at their friends in the Yacht Club thinking, 'Break me off a piece of that'. By combining, CryptoPunks might actually have their wishes answered, and start to see some perks associated with their NFTs.
Sign up for Flux and join 100,000 members of the Flux family
