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 ether.
Cryptopunks Fleetingly 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 top sales this week with $15,087,189 million in sales, up 61.47% higher than last week.
While Cryptopunks has the sixth largest collection in terms of NFT sales this week, with $4,517,133 in sales this week, sales are down 52.38% compared to the previous week. Despite the low number of sales last week, Cryptopunks has managed to briefly flip BAYC in terms of floor value.
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. The head-to-head action has been going on for most of the day, and later in the afternoon, BAYC managed to regain the top floor.
NFT floor values 26 days back are completely different as compared to 26th July, 2022. At the time, BAYC had a top floor price with 82 Ether as it was the least expensive BAYC that day. Cryptopunks NFT was in second place on that day, as the floor value on July 26 was 73.95 ETH. In fact, data from Archive.org shows that BAYC has held the top floor price week by week for months.
The head-to-head competition today follows Yuga Labs releasing the Cryptopunks and Meebits intellectual property licenses last week. The new licenses make it so Cryptopunks and Meebits owners can use their NFTs for commercial or personal purposes. 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 the floor value of BAYC on August 21, the opposite happened on December 22, 2021. The lowest BAYC at the time was 53.9 ETH while the lowest value Cryptopunk was 52.69 ETH. After BAYC flipped Cryptopunks late last year, however, it has maintained dominance in terms of being a top floor value. Barring a few occasions, the NFT collection PROOF Collective has briefly flipped BAYC.
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.
