It's not every day that the hottest two projects in an explosive asset class merge together. That's what happened on March 11th when Yuga Labs, the company behind Bored Apes Yacht Club (BAYC), announced the acquisition of the intellectual property rights of CryptoPunks. 

The market responded as dramatically as you'd expect. Bored Apes' floor has jumped 18% to almost 90.0 ETH, while Punks' is down 6% to 72 ETH.

The two projects were within less than one ETH of each other on the day of the announcement, with BAYC's floor set at 76 ETH and CryptoPunks' at 76.34, according to a Dune Analytics dashboard. At $1.4 billion, according to CryptoSlam, BAYC has the second-largest sales volume of all-time, trailing only CryptoPunks, which is $2.1 billion. 

Yuga Labs also acquired Meebits' IP as part of the deal; both Meebits and CryptoPunks were created by Larva Labs. The BAYC creator is now drafting new terms and conditions for its two new collections per the company's announcement of the acquisition.

(All information was provided by The Defiant)

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