The NFT is a cryptocurrency which stands for Non-Fungible Token. These are the digital assets that power CryptoKitties, Digital Pets, and many other games like them. Depending on how these video game collectibles evolve in popularity, they will become one of the biggest trends to hit blockchain gaming this year.

Cryptopunk is a decentralized blockchain platform that enables the creation and management of digital collectibles. It allows users to create, trade, and monetize their digital assets without any middlemen. Read more in detail here: cryptopunk.

Apes and Punks Battle it Out for NFT Domination

A conflict has been silently raging in the blockchain’s upper reaches. Fans watched in fascination as Punks competed against Apes for undisputed crypto dominance, while fans watched in awe as the inevitable changing of the guard took place.

Throughout December, pundits predicted a “flippening,” or the moment when the Bored Ape Yacht Club’s floor price would exceed that of the long-time champs, the CryptoPunks. Then it occurred on December 22nd. According to NFT marketplace OpenSea, the Bored Apes have become the most valuable item in town.

CRYPTO PUNKS were just flipped by bored apes.

Wow, the tweet we didn’t see coming 6 months ago. pic.twitter.com/K84UppAlg7 https://t.co/qOANMIkt82

December 22, 2021 — Loopify (@Loopifyyy)

Owners were ecstatic, fireworks lighted up the sky, and champagne corks sailed through the air recklessly. The Bored Ape floor price was 53.9 ETH, while the CryptoPunks were stuck at 52.69 ETH. The battle had come to an end, or had it? Despite BAYC’s dominance, the CryptoPunks outsold the Bored Apes by a factor of two, with floor prices within a whisker of each other. The Punks then took out the ace card.

As of this writing, there is no floor price for CryptoPunks since none are available for purchase. Unlike the Bored Apes, who are plentiful, the CryptoPunks have achieved Valhalla and represent an asset of unfathomable worth. When you look at the genesis Cyberkongz, you’ll see that BAYC aren’t even the most costly Apes in town. This fight isn’t done yet.

 

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NFTs are a type of cryptocurrency that can be created and traded on the Ethereum blockchain. They are often referred to as “Non-Fungible Tokens.”. Reference: what are nft tokens.

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