The earlier you are into an NFT collection, the better
The collections “BAYC” and “CryptoPunks” are bright examples of why it’s essential to buy-in early
It is no secret that the earlier you are in something that is growing and involves money, the better. This is true for stocks, crypto, and even sneakers. Of course, this applies to NFTs too.
Below, we will briefly talk about 2 of the most notorious and expensive NFT collections, Bored Ape Yacht Club and CryptoPunks.
Spoiler alert: they both have strong communities behind them.
Bored Ape Yacht Club
BAYC is a collection created by Yuga Labs, and it contains 10,000 Bored Apes. Each Bored Ape gives you access to the exclusive Yacht Club and grants you full commercial rights for your Ape. The project was minted on the 23rd of April, 2021, for 0.08 eth (around $200) and was not ultimately sold out by early May. To give you a perspective of how mindblowing is the fact that BAYC was not sold out for several weeks, the floor price now is $180,000, and the total trading volume is ~$500,000,000 in the last 7 months!
CryptoPunks
The collection CryptoPunks was created by Larva Labs in June of 2017. It contains 10,000 uniquely generated characters. Each artwork is 24x24 pixels and “live” in the Ethereum blockchain.
Lavra Labs planned to offer 9,000 characters for free and keep 1,000 for the creators as the “Punk Devs.” Yes, CryptoPunks were free. After Mashable published an article about the project, the characters were gone in 24 hours. At the time of writing, the floor price of CryptoPunks is ~80 eth ($304,000).
That is all, folks. The conclusion is simple: The earlier you are into an NFT collection, the better. If you have any questions, don’t hesitate to contact us here.
Visit Watchen | Request access
