BAYC Co-founder Responds to Controversy Over "BAYC Ruined NFTs": The Real Issue Is the Proliferation of Copycat Projects

On October 5, NFT whale Pranksy posted on the X platform claiming that "BAYC ruined NFTs." The underlying NFT technology itself was overshadowed by profile picture projects like BAYC, with the public eventually equating NFTs solely with "ape projects," which led to a surge of copycat projects in the market over the following years.

In response, BAYC co-founder Greg Solano stated that Pranksy had sold BAYC assets originally worth $500 million for merely millions of dollars while continuing to promote numerous "copycat projects." He founded multiple NFT-related companies, but all of them have since been removed from his profile. Greg Solano also fired back, saying, "Either be the change you wish to see, or enjoy the wealth brought by BAYC."