The floor price for Bored Ape Yacht Club NFTs has flipped that of the famed Crypto Punks.
Yesterday, we saw the floor price for NFTs from the Bored Ape Yacht Club (BAYC) collection surpass that for the famed Crypto Punks for the first time.
The Flippening
Data from OpenSea shows that yesterday, the floor price of the BAYC NFT collection was at 54 ETH, while the floor price of an NFT from the CryptoPunk collection was 52.8 ETH.
In other words, we witnessed the first-ever flippening in the world of NFTs, where the most expensive collection officially was the Bored Ape Yacht Club.
Here’s Why
Commenting on the matter was Bobby Ong, the Co-Founder, and COO of CoinGecko, who outlined three reasons for which he believes this happened.
The second reason is pretty straightforward – plenty of celebrities have shown support for the project. FT superstar Stephen Curry purchased a Bored Ape NFT for $180K back in August, and he is just one of the famous people who’ve been involved.
Last but not least, Ong mentions that BAYC, unlike Crypto Punks, has “teased a token to go with the NFT.” The announcement came from BAYC during October this year and said that they are looking at the first quarter of 2022 for the launch.