Cryptopunks and BAYC Floor Values Go Head-to-Head, as the Punks Briefly Surpass Bored Apes – News Bitcoin News

On Sunday, August 21, 2022, the floor value of the Cryptopunks non-fungible token (NFT) collection briefly surpassed the Bored Ape Yacht Club (BAYC) NFT collection’s floor value. While it’s not by a huge amount, at the time, Cryptopunks floor was ​​66.45 ether, while BAYC’s least expensive NFT was 64.99 ETH.

Cryptopunks Reclaims the Throne It Held Last Year by Flipping BAYC’s Floor Value

Non-fungible token (NFT) sales are not doing so well this week as sales are down 18.75% lower than the week prior’s sale volume, according to cryptoslam.io statistics. Bored Ape Yacht Club, (BAYC), holds the highest sales with $15,087 million, which is 61.47% more than last week.

👀 pic.twitter.com/NOprcn7Vja

— Nick Tomaino (@NTmoney) August 20, 2022

While Cryptopunks is the sixth largest collection in terms of this week’s NFT sales with $4,517,133 in sales this week, sales are down 52.38% lower than the week prior. Cryptopunks is able to briefly flip BAYC in terms floor value despite the low number of NFT sales.

On August 21, at 1:45 p.m. (EST), Cryptopunks’ floor value was 66.45 ETH or $107,866. BAYC’s floor value slipped down to 64.99 ETH or $105,623 at that time. For most of today, the head-to-head battle has continued. Later in the afternoon BAYC was able to regain top floor.

NFT floor prices are quite different from what they were on July 26th, 2022. BAYC, which was then the lowest-priced BAYC at the time, had the best floor value of 82ether. As the floor value on July 26, at 73.95ETH, Cryptopunks’ NFTs came in second. Statistics from archive.org show BAYC actually has maintained the top floor value over weeks for several months.

After Yuga Labs released the Cryptopunks, Meebits intellectual propriety licenses last Thursday, today’s head to head competition follows. With the new licenses, Cryptopunks or Meebits can now use their NFTs to commercially or personally. The company’s BAYC NFTs also have a license for NFT owners, but Galaxy Digital research claims the license covering BAYC, MAYC, and BAKC NFTs contains critical contradictions.

While Cryptopunks temporarily flipped BAYC’s floor value on August 21, the opposite took place on December 22, 2021. That time, the lowest BAYC floor value was 53.9ETH and the lowest valued Cryptopunk 52.69ETH. Although Cryptopunks were flipped by BAYC at the close of the last year, the value of the top floor has remained the same. The NFT collective PROOF Collective briefly overtook BAYC, except on very rare occasions.

Following the brief flippening early Sunday afternoon, BAYC managed to regain the top position and by 4:00 p.m. (EST), BAYC’s floor was 68.48 ETH, while Cryptopunks floor was 66.45 ETH. While BAYC’s market valuation at the time of writing is $1.11 billion, Cryptopunks’ market valuation is now roughly $1.07 billion. At 5:30 p.m., BAYC’s floor was 68.48 ETH and Cryptopunks floor was 66.45 ETH.

What do you think about Cryptopunks briefly flipping BAYC’s floor value on August 21, 2022? Are you positive that the head-tohead battle will continue? Comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for Bitcoin.com News, with over 5,700 articles on the most disruptive protocols currently in development.