Bored Ape Yacht Club is arguably the most famous NFT arts and is valued very highly by early adopters. They have been wildly popular amongst people and many people who do not follow NFT trends also know of them. In short, currently, they are the poster boy for NFTs.
But recently, a new project called the Phunky Ape Yacht Club has caused controversy for being highly inspired by BAYC itself. They are also ape-based arts that follow the art style and aesthetic of the former.
As of now, the Opensea NFT marketplace has removed the Phunky Ape art due to copyright infringement. Essentially these images were slightly altered or mirrored as compared to the others. PAYC launched 10,000 NFTs that came under heavy fire by the people.
About 8,500 of these were sold within minutes. Bore Ape Yacht Club has a significant amount of unflattering copies, but PAYC were the ones that were the closest to their product. In this, they had the same color schemes and also had the same aesthetics.
Cryptopunks (CP) complained about this and said that the BAYC NFTs and artworks are copyrighted. They filed a legal DMCA claim, and later on, PAYC was removed from the marketplace. CP has amassed over $2.98 billion, while BAYC NFT has collected over $1.04 billion in all-time volume.
If you have wanted to get in on the NFT craze, right now is the best time to do so. Not only is it still new, but the rate of growth is also exponential and you can be there when it reaches its full potential.