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.

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. Despite this week’s lower sales, Cryptopunks briefly managed to flip BAYC’s 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-tohead battle has been ongoing for the majority of the day. Later in the afternoon, BAYC was able to regain the top level.

NFT floor values are a whole lot different than they were 26 days ago on July 26, 2022. At that time, BAYC had the top floor value with 82 ether as it was the least expensive BAYC on that day. Cryptopunks NFTs were in second place that day, as the floor value was 73. 95 ETH on July 26. Statistics from archive.org show that BAYC holds the top floor value for weeks on end.

The head-to-head competition today follows Yuga Labs releasing the Cryptopunks and Meebits intellectual property licenses last week. With the new licenses, Cryptopunks 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. At that time the lowest BAYC was 53.9 ETH while the lowest valued Cryptopunk was 52. 69 ETH. After Cryptopunks was 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.

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. BAYC’s market value at the time this article was written 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 sure the head-tohead battles will last? Comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More