Rising from its modest minting price of 0.08 Ether (ETH), Bored Ape Yacht Club (BAYC) has climbed to nonfungible-token (NFT) stardom, competing with one of the earliest examples of Larva Labs CryptoPunk NFT.
Given its steady but amplified growth, BAYC has many crypto natives speculating that its collection will eventually “flip” CryptoPunks, and there are several reasons to back it.
Tip-toeing around which collection is the top NFT contender, the competition between these two collections is driven by several factors. With an existing divide between mainstream media adoption and the IP rights granted to its owners, the BAYC and CryptoPunks collection also have a disparate amount of unique holders. This is important because the amount of unique holders is often indicative of a wider spread of owners, meaning it’s less at the mercy of a single sale dictating the projects overall or floor value.
Let’s take a look at some of the factors NFT advocates and traders are talking about in regards to the BAYC project flipping the floor price of CryptoPunks.
Two different labs and visions
The stagnation of CryptoPunks in comparison to the dynamic marketing nature of BAYC leaves many speculating that a “flippening” is inevitable. To add fuel to fire, although there are many copyright options given to creators, the “no rights reserved” option is not one given at LarvaLabs.
As such, many have taken to Twitter to comment in support of the speculation. One particular now-former CryptoPunk #4156 was sold for 2,500 Ether on principle and contention regarding Larva Labs’…