Punk6529 on the Significance of Bored Ape Yacht Club and CryptoPunks

We're 1/8000th of the way there from getting the whole planet into NFT world, and the idea that the most important thing one would do with a piece of interesting art and culture is make a baseball cap is a bizarre failure of imagination. We're going to be in digitally composable spaces.

The success of the Bored Apes reset, in many ways, what is now the market standard for PFP collections. I have a fairly aggressive view of this: I believe, now, the only two viable choices for a PFP collection are either commercial rights, like the Bored Apes model, or the whole collection goes into the public domain.

NFTs have basically three main categories: PFPs, generative art (on-chain generative art), and one-of-one art ... The first successful collection in two of those three categories was the same two guys, which is an incredible legacy. I mean, even if they retire tomorrow, never did anything else, it's an incredible legacy.

Whether on purpose or by accident, the CryptoPunks have set the base model for what a PFP (profile picture) collection looks like—that it's around 10,000 pieces, that there are dominant hierarchy traits... and that there is a generative aspect in how those various traits are randomly given to each individual punk.

For the first time in Punks' history—and this is going to be a little controversial, I'm going to get yelled at later in the Discord—the Punks are actually in control of their own destiny, because the Punks can do whatever they want now, either individually or in groups.

There is a 9.1% overlap between Punk holders and Bored Ape holders.

It's an amazing time to be in NFTs, because many things: It's a combination, not just of a new crypto art movement, which it is, but also a new technology for transporting intangibles, which is an unbelievably big topic, because societal intangibles are a multi-deca-trillion-dollar asset class.