NFT's: Taking a look at the 2 most well-known collections

Among the plethora of NFT collections, two names stand out as the most famous and expensive: Bored Ape Yacht Club (BAYC) and CryptoPunks.

Introduction

NFT’s can be a variety of things, but the so called PFP (profile picture) is the most popular type. These are basically images of characters. Often a collection features the same basic design, but with changes in their appearance.
There are several collections which are popular, though not all stay popular. During the bear market a lot of crypto assets have lost their value, including NFT’s. Considering the top collections are very pricy, they lost a lot of value. Though some sensation and schadenfreude media websites love to publish about this, as if NFT”s are worthless, they are still very pricy.

Bored Ape Yacht Club (BAYC)

The Birth of the Apes: Bored Ape Yacht Club, created by Yuga Labs, is a collection of 10,000 unique, hand-drawn NFTs, each featuring a different cartoon ape. Released in April 2021, it quickly captured the attention of crypto enthusiasts and art collectors alike.

  • This collection is by far the most famous in general, a lot of celebrities, like Eminem and Justin Bieber, are holders,
  • Uniqueness and Rarity: What makes BAYC NFTs exceptional is their rarity and individuality. Each ape comes with its distinct set of attributes, including background, fur color, accessories, and more. These unique combinations make each NFT one-of-a-kind.
  • Membership and Perks: Owners of Bored Ape NFTs are granted membership to the Bored Ape Yacht Club, an exclusive online and real-world community. Membership includes access to special events, parties, and opportunities that bring together the NFT holders in a unique and exciting way.
    The company is also working on a Metaverse, where the NFT”s could play a part in.
  • Market Value: BAYC NFTs have seen a significant increase in market value, with some fetching prices in the millions of dollars. The rarity and desirability of these apes have turned them into highly sought-after digital collectibles.
    Everyone who holds one, and uses it as their pfp is instantly looked up to, since it means your are rich.

 

CryptoPunks

  1. Pioneers of NFTs: CryptoPunks, created by Larva Labs in 2017, are considered pioneers in the NFT space. They consist of 10,000 unique 24×24 pixel art characters, each with distinctive traits and attributes.
    • Historical Significance: CryptoPunks hold historical significance as one of the first NFT projects on the Ethereum blockchain. They were initially given away for free but have since become valuable assets in the NFT market.

      Collectible Appeal: The appeal of CryptoPunks lies in their scarcity and vintage aesthetic. Traits such as rare accessories, backgrounds, and certain expressions contribute to their desirability among collectors.
    • Record Sales: Some CryptoPunks have fetched jaw-dropping prices at auctions, with a few selling for millions of dollars. The digital art world recognizes these pixelated avatars as a symbol of the NFT movement.