On Sunday, August 21, 2022, the minimum value of the Cryptopunks Non-Fungible Token (NFT) collection briefly exceeded the minimum value of the Bored Ape Yacht Club (BAYC) NFT collection. While not a huge amount, at the time, the Cryptopunks floor was 66.45 ether, while the less expensive BAYC NFT was 64.99 ETH.
Cryptopunks regains the throne it occupied last year by changing the minimum value of BAYC
Non-fungible token (NFT) sales are not doing so well this week, with sales falling 18.75% below the previous week’s sales volume, according to statistics from cryptoslam.io. Bored Ape Yacht Club (BAYC) has the highest sales this week with $15,087,189 million in sales, up 61.47% from last week.
While Cryptopunks is the sixth largest collection in terms of NFT sales this week with $4,517,133 in sales this week, sales are down 52.38% from the previous week. Despite the lower number of sales last week, Cryptopunks managed to briefly switch to BAYC in terms of minimum value.
On August 21, at 1:45 pm (EST), the minimum value of Cryptopunks was 66.45 ETH or $107,866. The minimum value of BAYC fell to 64.99 ETH or $105,623 at the time. Head-to-head action has been going on for most of the day, and later in the afternoon, BAYC managed to recapture the top floor.
As of 1:45 pm (EST), Cryptopunks NFT collection minimum value briefly surpassed Bored Ape Yacht Club NFT collection minimum value. BAYC managed to regain the top position at 4:00 pm (EST) on Sunday afternoon.
The minimum NFT values are very different from what they were 26 days ago on July 26, 2022. At the time, BAYC had the top floor value at 82 ether as it was the least expensive BAYC on that day. Cryptopunks NFTs came in second place that day, as the minimum value was 73.95 ETH on July 26. In fact, statistics from archive.org show that BAYC has held the highest value week after week for months.
Block Crypto popular NFT minimum price chart on Aug 21, 2022.
Today’s head-to-head competition follows Yuga Labs releasing the Cryptopunks and Meebits IP licenses last week. The new licenses make it possible for Cryptopunks and Meebits owners to use their NFTs for business or personal purposes. The company’s BAYC NFTs also have a license for NFT owners, but Galaxy Digital’s investigation claims the license covering BAYC, MAYC and BAKC NFTs contains critical inconsistencies.
While Cryptopunks temporarily changed the minimum value of BAYC on August 21, the opposite occurred on December 22, 2021. At that time, the lowest value BAYC was 53.9 ETH while the lowest value Cryptopunk was 52.69 ETH. However, after BAYC flipped Cryptopunks late last year, it has maintained dominance in terms of being the top floor value. Except for a few occasions, NFT’s PROOF Collective collection has briefly switched to BAYC.
After the brief turn around on Sunday afternoon, BAYC managed to regain the top position and at 4:00 pm (EST), the BAYC floor was 68.48. ETH, while the Cryptopunks floor was 66.45 ETH. While the market valuation of BAYC at the time of writing is $1.11 million, the market valuation of Cryptopunks is now about $1.07 million. At 5:30 pm, the BAYC floor was 68.48 ETH and the Cryptopunks floor was 66.45 ETH.
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