From Lil Baby Ape Club to Lil Baby Cool Cats, we have seen a flurry of copycat baby NFT collections of some of our favourite blue-chip projects. These copycat versions have gained traction over the past week, with Lil Baby Ape Club reaching a current floor price of 0.23 ETH.
About the CopyCat Baby NFT Collections
These collections are not affiliated with the original collections. And, to be fair to them, they do state that in their Twitter bio. However, these projects could be detrimental to the original projects for outsiders looking in. For example, imagine one of these baby NFT collections are involved somehow in a scam or rug pull, or some form of discrimination (which has been discovered). This could look bad for the blue-chip project whose name is in the title of these collections. As the artwork looks the same. For those looking in from the outside, it makes it seem like something that one of the blue-chip projects like Bored Apes or Cool Cats has done, despite no involvement whatsoever.
Are There Any Positives?
The hype currently is huge, it’s never been bigger, but why? Are people just not caring about copying? The one argument that can probably be made is the price for what you’re getting. ‘Why spend 30-40 ETH on a BAYC that is out of reach when I can get a baby version for 0.2?’ is the question that many people are probably considering when ‘aping’ into these projects. The soaring value of blue-chip NFTs could add to this. With the prices being way out of most normal people’s budget. Users are looking for ways to get in, at the floor, of a great community. They may feel these baby versions are the way to do that. Not to mention, these projects are more likely to include rug pulls or scams. So as always if you’re investing just do your own research, and be careful.
Surely it won’t be long until we see Baby Punks get started, or Baby Doodles or Creatures for that matter.