THE DAILY ENCRYPT

October 3, 2022

NFTs – Cryptopunks Overtake Board Ape YC Floor Value by a Few ETH

The floor value of Cryptopunks' non-fungible token collection (NFT) briefly exceeded that of Bored Ape Yacht club (BAYC), on Sunday, August 21, 2022....
board ape bayc and crypto punk
Image by The Daily Encrypt

The floor value of Cryptopunks’ non-fungible token collection (NFT) briefly exceeded that of Bored Ape Yacht club (BAYC), on Sunday, August 21, 2022. Although it isn’t a significant amount, Cryptopunks floor value was 66.45 Ethereum at that time, while BAYC was 64.99 ether.

By flipping BAYC’s floor value, Cryptopunks fleetingly reclaim the throne it held last year
According to cryptoslam.io statistics, non-fungible token sales (NFT), aren’t doing well this week. Sales are 18.75% less than last week’s volume. Bored Ape Yacht Club’s (BAYC), which has $15,087,000,000 million in sales, is the leader this week, an increase of 61.47% over last week.

Cryptopunks is sixth in NFT sales, with \$4,517.133 this week. However, sales are 52.38% lower than last week. Despite this week’s lower sales, Cryptopunks briefly managed to flip BAYC regarding floor value.

Cryptopunks’ floor price was 66.45 Ethereum on August 21 at 1:45 PM (EST) or \$107,000. BAYC’s floor price dropped to 64.99 Ethereum, or \$105,623. For most of the day, the head-to-head battle has been ongoing. Later in the afternoon, BAYC was able to regain the top level.

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The NFT floor values are quite different from what they were 26 days prior to July 26, 2022. BAYC was the most expensive BAYC at that time with 82 Ethereum as its top floor value. The floor value for Cryptopunks NFTs was 73.95 Ethereum on July 26, and they were second. Archive.org statistics show that BAYC holds the top floor value for weeks on end.

Today’s head-to-head contest follows Yuga Labs last week releasing the Cryptopunks & Meebits intellectual properties licenses. These licenses allow Cryptopunks to use their NFTs for personal or commercial purposes. NFT owners can also purchase the company’s BAYC NFTs. However, Galaxy Digital research asserts that the license that covers BAYC, MAYC and BAKC NFTs contains crucial contradictions.

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The floor value of BAYC was temporarily turned by Cryptopunks on August 21. However, the opposite happened on December 22nd 2021. The lowest BAYC value was 53.9 Eth, while the lowest valued Cryptopunk at that time was 52.69 Eth. Although Cryptopunks were flipped by BAYC at the end last year, it still holds the top floor value. The NFT collection PROOF Collective briefly overtook BAYC, except on a few occasions.

After a brief flipping on Sunday afternoon, BAYC regained the top spot. By 4:00 p.m. (EST), BAYC had 68.48 ETH floor, while Cryptopunks’ floor was at 66.45 ETH. At the time of writing, BAYC’s market value is $1.11billion. Cryptopunks’ market value is currently $1.07billion. At 5:45 p.m., BAYC had a floor of 68.48 Ethereum, while Cryptopunks’ floor was at 66.45 Eth.

Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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