“Can someone explain to me why NFT ‘clones’ are selling for so much?” asked Redditor LittleDoofus a couple of months ago.
NFT clones cash in on successful NFT collections by releasing similar or even identical copies of the art under similar sounding brands. LittleDoofus wanted to know how we have suddenly ascribed so much value to NFTs, let alone mere copies of celebrated NFT artworks?
LittleDoofus’ post continued:
“Ok so I kinda understand how someone might see the CryptoPunks or Ether Rocks projects as valuable digital collectibles, but what’s going on with the craze over the clone projects? I see so many lazy CryptoPunks clone projects (no affiliation to Larva Labs) with no-name ‘artists’ behind them selling for a lot.. why? Is it just scammers trying to scam each other?”
It’s a good question: Where do NFT clones fit in open-source crypto culture? I decided to ask long-time crypto developers and the clone creators themselves for their thoughts.
First, by “clones” I’m referring to exact copies of well known projects: Think of CryptoPhunks, which simply flipped the images and literally mirrored the original iconic NFT CryptoPunks series that now sells for millions a piece. CryptoPhunks sell for a little less than an Ether.
Clones also exist across different blockchains. SolPunks, for example, was built on the Solana blockchain and “is in no way affiliated with Larva Labs and/or CryptoPunks” built on Ethereum. But, the punks look the same.