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.
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.
Commenting on the matter was Bobby Ong, the Co-Founder, and COO of CoinGecko, who outlined three reasons for which he believes this happened.