Flipped NFTs depicting various cryptopunks and bored ape crypto art.

Flipped NFTs

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Updated Dec 30, 2021 at 03:52PM EST by Philipp.

Added Dec 30, 2021 at 12:17PM EST by Owen.

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About

Flipped NFTs refers to an NFT movement based on mirroring or flipping recognizable crypto art imagery like CryptoPunks and Bored Ape Yacht Club in order to resell them. The first flipped NFT collection was founded in June 2021, seeing a notable spike in late 2021 among controversy on Twitter.

History

CryptoPhunks

The first flipped NFT project launched on June 14th, 2021 (called CyrptoPhunks), based on the preexisting CryptoPunks collection.[10] The collection consists of CryptoPunk imagery but flipped so that the "punks" are facing left. The creators of the collection originally tried to mint their NFTs on OpenSea, but according to a statement[1] released by them, their collection was banned from all major NFT platforms, resulting in them moving their CryptoPhunks to their own website called Not Larva Labs[2] in reference to Larva Labs, creators of the original CryptoPunks.

Additionally, the CryptoPhunks creators minted a "Letter to Larva Labs" on the platform Foundation[3]
(shown below). Within the statement, they outlined how the collection actually aimed to cement the strength of blockchain technology in regards to authenticity. They argued that their bootleg collection only solidified the CryptoPunks legacy instead of hindering it and that their criticism and censorship of it was unwarranted because of this. They also uploaded the letter to their website.[3]


Phunks poked fun at those who were applying the "old-school" rules of art into this new frontier of NFTS. Deceptive and fraudulent copycats should be mitigated, JULY 20, 2021 but Phunks has been clear parody from the F PHUNK start with no reported cases of a this project's short user buying a Phunk thinking it was a Punk. In lifespan thus far, Phunks have brought in attributes and history. Some even went on over 1,000 holders who learned about the Punks' new to buy a Punk. Others are IS PUNK just happy to have joined and accessible community that a new embraces the philosophies that web3 was built on. Larva Labs: have you entertained the perspective that altpunk A LETTER projects create incremental value for Punks by perpetually solidifying their legacy? Where do you draw the line on what is deemed spoken with various attorneys parody and what is not? We’ve "parody" and "satire" currently stand unclear in light of lawsuits involving Andy Warhol's Do you believe that Warhol's iconic Campbell's Soup Cans and who have agreed that are legal areas that TO LARVA то work. the commentary it generated crossed the line as well? Additionally, Larva Labs has not addressed their community's own LABS questions regarding IP ownership of Punks. Do Punk owners have commercial rights to their Punks? Can Punk owners permit the Phunk of their Punk to exist? Is Larva Labs planning to wipe bunch of a altpunk projects off of OpenSea now that they are a $100m+ company? The NFT space, Punk Holders, and Phunk Holders need clarity, collaboration, and forward thinkers to pave the way for a decentralized future. To Larva Labs and the NFT community: It's time for an awakening in the NFT community. It’s time to stand up to censorship resistance, for change beyond our pervasive web2 In the words of your co-founder Matt Hall, the blockchain "provides a systems, and for true decentralization. Phunks stand for these layer of trust that removes the need for lawyers and middlemen." But principles. What is truly punk can not be stopped. Long live Phunks, over the last several weeks, we've that your actions speak on the blockchain, forever. seen louder than these words. You have called for lawyers and have ignored our public and private requests for an open dialogue regarding the "If you don't believe me or don't get it, I don't have time to try to DMCA issued to OpenSea requesting the delisting of CryptoPhunks. convince you, sorry. Satoshi This letter aims to bring public attention to the issue(s) at hand. During these formative times in the NFT space, CryptoPhunks aims to Yours Trustlessly, push boundaries in order to set the foundation for a future where The Phunks NETS can leverage blockchain technology for its strengths: provenance and authenticity.

PHAYC

Another flipped NFT collection was launched in late December 2021, called PHAYC in reference to the Bored Ape Yacht Club (BAYC) collection. The creators of the project launched a page on Rarible,[4] as well as a Twitter[5] account in December 2021. The collection sold its highest-selling NFT on December 29th, 2021, for roughly $14,900.

Online Reactions

Reactions to the PHAYC NFTs following their launch in December 2021 were both negative and positive across platforms like Twitter. For instance, Twitter[6] user kerneltrader posted a tweet (shown below, left) on December 29th, reiterating the hatred centered on the BAYC community, citing that sentiment as the project's success. Twitter[7] user end0xiii also posted a PHAYC-related tweet on December 29th, showing off that they'd purchased the PHAYC version of their BAYC because "i see both sides like Chanel." Their tweet (shown below, right) received 374 likes in one day.


T end @endOxii i bought the #phayc version of my #bayc cause i see both sides like Chanel

Other users started posting memes about PHAYCs on Twitter, like lmfaoscav,[8] who referred to the "A Toofpick Changes Everythang" meme as "all you need to know about BAYC vs PHAYC." The tweet (shown below) gained 432 likes on one day, as well as being retweeted by the official PHAYC Twitter account.


Scav @lmfaoscav this is all you need to know about BAYC vs PHAYC A TOOFPICK CHANGES EVERYTHANG SPICEADAMS

Twitter discourse between BAYC buyers and PHAYC buyers continued to ramp up going into the rest of December 2021. Users from the PHYAC side started to troll BAYC Twitter users in subsequent threads. One example was reposted by Twitter[9] user cryptoskullx on December 29th (shown below). The screenshot shows users arguing over whose "ape" is fake and whose is not based on which side it's facing.


ICE BAGZ @DaRealMilkBagz · 20m I've spent way more than that there 15 crydolphi.eth @cryptodolphi · 15m and? pwnlord69 @pwnlord69 · 8m why is your ape facing the wrong way? 13 Ponzi Trader (happy,newyear) @buyerofblood · 5m Why's his ape look like that lol lil nutterbutter @peanurtt - 41s Must be a knock off ape Imao

Search Interest

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External References

[1] CryptoPhunks – statement

[2] Not Larva Labs – Not Larva Labs

[3] CryptoPhunks – cryptophunks.com

[4] Rarible – PHAYC

[5] Twitter – @phaycbot

[6] , Twitter – @kerneltrader

[7] Twitter – @end0xiii

[8] Twitter – @lmfaoscav

[9] Twitter – @cryptoskullx

[10] Not Larva Labs – History

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Top Comments

pinkiespy - goat spy
pinkiespy - goat spy

Let me make something clear: there is nothing punk about NFTs. NFTs have the inexplicable capability of being against any and all forms of punk spanning decades of history and transcending genre and media. Your damn AI-sharted pixel art and all the infrastructure involved with maintaining it and stealing for defenseless small artists is literally the least punk thing I can imagine.

Call me when you blockchain a list of names and addresses of PAC donors. Or something. Anything. You're literally just techbro bullshit and the facade lasted a quarter of a second before the first right click joke was said.

+61
KoimanZX
KoimanZX

Not only is the emperor naked, but his penis is flapping in the wind for all to see.

Now I just have to look and see if any of my work was turned into on of these abominations. While I oppose copyright, the idea that my work could be turned into an environmentally-destructive scam doesn't sit well with me.

+40

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