BAYC NFT prices shoot up 18 per cent, after acquiring CryptoPunks, Meebits

Days after Bored Ape Yacht Club (BAYC) non-fungible-token (NFT) creators announced acquisition of NFT collection CryptoPunks and Meebits from Larva Labs, the ape avatar collection have soared in price over 18 percent.
On March 11, when the Yuga Labs, creators of BAYC NFTs announced the acquisition, a single piece of BAYC NFT was being sold at $1,85,363 (roughly Rs 1.41 crores) or 73 Ethereum in cryptocurrency. However, after the announcement the price soared to 89 Ethereum which is $22,5991 (roughly Rs 1.72 crores), according to CoinGecko market cap tracker.
Yuga Labs now owns 423 CryptoPunks and 1711 Meebits. For the uninitiated, BAYC is a popular collection of 10,000 unique bored NFT apes created Yuga Labs. It has generated more than $1 billion in total sales amid celebrities flocking into the NFT bandwagon.

Bored Apes and CryptoPunks NFT collections are the most sold NFTs. Both the collections hold a combined worth at a minimum of some $3.6 billion at current prices. “We’ve long admired CryptoPunks, and the work of the project’s founders, Matt & John. They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga,” a tweet from the Yuga Labs Twitter account reads.
Meanwhile, this acquisition does not mean that co-founders of CryptoPunks and Meebits are joining Yuga. They’re going to continue running Larva Labs and will keep doing what they are doing.
BAYC NFT is owned famous celebrities, such as basketball icon Steph Curry, music art Post Malone, and even American TV host Jimmy Fallon. More recently, rap art Eminem is the latest to jump into the NFT craze with his first BAYC purchase that cost 123.45 Ether worth $452,000 (Rs 3.36 crore approx.).
Earlier, in December, someone makenly sold a BAYC NFT worth Rs 2.27 crore for Rs 2.27 lakh. The NFT sold for $3,000 was supposed to be led for 75 Ethereum (ETH) about $300,000. However, the owner of the NFT, who goes the username maxnaut, ended up with a typo error and entered a ling price of 0.75 ETH rather than 75 ETH.