Bored Ape Yacht Club (BAYC) is among the most expensive collections of NFTs today. The hype of the unique collection has caused some of the Bored Ape pieces to sell for millions of dollars. Naturally, there are others who wish to cash in on this hype and now it seems they are fighting among themselves to get the bigger chunk.
Case in point, two ripoffs of the Bored Ape Yacht Club have been fighting each other for which one is legit. On one side, there is the Phunky Ape Yacht Club or PAYC, which launched earlier this month. On the other, PHAYC, satirical use of the word "fake," launched later in December. Both have one thing in common - they thrive off BAYC.
Both the projects comprise NFTs which are exactly the same as those in BAYC, only flipped horizontally. Meaning they simply flip the right-facing Bored Apes to face the left and sell them as their own line of NFTs. While some might wonder who would pay for that, know that both the projects sold out within hours of launching.
Though the collections have been facing bans from marketplaces ever since. Recently, NFT marketplace OpenSea banned both PHAYC and PAYC, on grounds of copyright infringement. Now the projects are looking for safe marketplaces where they can be traded without scrutiny.
Interestingly enough, the competing collections don't seem to be much concerned about this. What they are busy establishing right now, is that who is better among the two.
A Twitter war has been going on for the same. PAYC or the Phunky Ape Yacht Club recently adopted the hashtag #PHAYC on Twitter to troll the other project. PAYC's founder referred to PHAYC as a "cash grab fraud project." The reason being that PHAYC charged people to mint its apes. Coindesk notes that this allowed PHAYC to rake in around 500 ETH (over Rs 14 crore). In contrast, PAYC earned only about 60 ETH (about Rs 1.7 crore) from its paid sales.
In terms of the NFT arts, the two collections are largely similar. Though some differences can be seen in what they have set out to achieve. As a report by The Verge points out, PAYC is meant to mock the Bored Apy Yacht Club, claiming that the collection is just a gimmick of the rich. In doing so, it attempts to give a fresh chance to the market at the bored ape NFTs.
PHAYC, on the other hand, mocks the very notion of NFTs and goes by the tagline "Phayc it till you make it" a wordplay with "fake." Both the collections have 10,000 ape NFTs, just like BAYC.
Yuga Labs, the copyright owner of BAYC has not yet taken legal action against any of the two. Though it will be interesting to see what happens if it decides to do so since the world of NFTs has largely been bereft of regulations.
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