Well, it happened. The Bored Ape Yacht Club, which just launched in April 2021, have “flipped” the legendary CryptoPunks, still the highest valued NFT collection.
Flipping means that the last, lowest sales price for BAYC is higher than the same indicator for CryptoPunks. Back when BAYC first launched in April 2021, the NFTs were selling for $300. We haven’t seen the data on what the floor for Punks was then, but The Block’s graph suggests that it may have been around 20 ETH, a relatively low number. It wasn’t until late August when Punk opened up a huge gap over BAYC by what appears to be about 80 ETH.
The Block reported at 10:33 AM EST: “The current floor price of a BAYC NFT is 53.9 ETH ($215,350), whereas the floor price of a CryptoPunk NFT is 52.69 ETH ($210,515).”
Today, at 6:33 AM CST, the flip has flipped back: The floor for BAYC is 52.2 ETH, while for CryptoPunks it is 53 ETH ($208,813.63 USD).
The floor has recently been dropping for CryptoPunks. It does show weakness at the low end. But it tells little else.Check out our analysis here.
