Everything you need to know about PFP NFTs
A social media profile picture, also known as a PFP, can help you stand out on crowded platforms. But getting noticed can be challenging, with so many users vying for attention. That is why owners of non-fungible tokens (NFTs) have a unique opportunity to differentiate themselves by using their NFTs as profile pictures.
So let’s delve into the world of PFP NFTs, explore their popularity and functionality, and highlight some of the most popular projects you won’t want to miss.
What is a PFP NFT?
NFTs are digital artworks stored on the blockchain that provide various financial benefits, including earning passive income, and allow you to showcase your expertise in the cryptosphere. A PFP NFT, on the other hand, is a unique way for creators and collectors to establish their presence in the crypto community by showcasing their art as avatars on social media platforms such as Instagram, Twitter and Facebook.
Typically, PFP NFT collections comprise generative artwork based on an algorithm that features a single protagonist, such as a monkey, bear, cat, or deity. These collections generate different avatars with varying characteristics such as background color, accessories, clothing, body shape, and facial features, making each NFT unique.
To maintain the rarity of an NFT, developers limit the number of NFTs in a collection. In addition, developers categorize the NFTs based on their unique properties, indicating their rarity.
PFP NFTs usually come in the form of 2D images, as seen in projects like Bored Ape Yacht Club or CryptoPunks. However, other projects such as Mutant Shiba Club and Impostors are introducing animated NFTs to the market.
Furthermore, several artists are creating hand-drawn images as NFTs, such as Gary Vaynerchuk’s VeeFriend collection, which sold for $1.2 million, according to CNBC.
How does a PFP NFT work?
The working mechanism of a PFP NFT is similar to any other non-fungible token. These tokens use blockchain technology and are usually minted on the Ethereum network following the ERC-721 token standard. This standard generates a unique digital artwork or collectible.
You have two options to use an NFT as your profile picture: write it through the project’s website or buy the token through an NFT marketplace like OpenSea or Rarible. For both options, you need a crypto wallet with the necessary amount of ETH or other cryptocurrencies to buy or mint NFT.
To display NFT on social media, you need to integrate your crypto wallet into the platform. The process to connect your wallet will vary depending on your wallet choice and the platform you use. For example, you may need a Twitter Blue subscription plan to integrate your wallet to display your digital collectibles on Twitter.
Once you have linked your wallet to the social platform, navigate to your profile picture settings and select Change profile picture option. Then import PFP NFT from your wallet and your collectible will be displayed to the world.
Why are PFP NFTs so popular?
The success of CryptoPunks inspired the growth of PFP NFTs. After the NFT market boom of 2021, PFP NFTs became a massive trend, thanks to the hype on social media and the success of the Bored Ape Yacht Club. Beeple’s $69 million NFT and the rise of numerous NFT collections also helped make it so popular.
But the hype on social media is not the only thing that compels people to invest in a PFP NFT. There are many reasons why people invest in PFP NFTs, including:
- Gives holders voting rights in their favorite NFT projects.
- Using PFPs as avatars in the virtual world.
- Earns holders access to exclusive events and merchandise.
- Allows owners to monetize their assets by creating an item series for the collection.
- Offers various rewards such as items through which you can craft other NFTs.
- Certification of NFT ownership.
While some NFTs can easily be saved as JPEGs, many investors are willing to invest in their digital avatars because of the idea of digital ownership and the various benefits that come with it.
5 Best PFP NFT Projects
CryptoPunks and Bored Ape Yacht Club are the two most popular projects in the PFP genre, without a doubt. But at the time of writing, several other projects are in the process of making their own name in the market.
1. Mutant Ape Yacht Club (MAYC)
MAYC is an extension of the popular Bored Ape Yacht Club project by Yuga Labs. It became popular among NFT collectors due to its unique and eccentric characteristics. The collection consists of 20,000 unique mutant monkeys that can be owned and displayed as a profile picture.
Currently, the MAYC project is ranked third in the market with a capitalization of 253,199 ETH. The floor price for MAYC NFTs is approximately 13 ETH.
2. Azuki
If you’re an anime fan, Azuki might be the ideal PFP project for you. It is one of the projects of Chirru Labs that introduces 10,000 avatars based on anime characters. What sets this collection apart is that the NFTs are hand-drawn and follow a compelling story of the Azuki ecosystem.
The project is among the top five NFT projects, with a market capitalization of around 142,800 ETH. The floor price of the Azuki collection is approximately 14.39 ETH.
3. Meebits
Meebits is an NFT collection inspired by CryptoPunk’s NFTs, but instead of just offering pixelated head portraits, it introduces full character avatars. If you enjoy playing games like Minecraft, Fortnite and similar games, Meebits can be an ideal choice for your social media profile picture.
The collection has become increasingly popular recently, with a total market cap of 52,800 ETH and a floor price of around 2.64 ETH.
4. Moonbirds
Moonbirds is another fascinating addition to the world of NFT profile pictures by Kevin Rose. Launched in 2022, the collection introduces 10,000 adorable pixelated owls perfect for social media avatars. In addition, moonbirds collectors receive a number of benefits, including an entry card to an exclusive NFT holders club.
With a market cap of 31,156 ETH and a floor price of 3.11 ETH, it is one of the best PFP NFT collections.
5. DeGods
DeGods is one of the most popular PFP projects on the Solana blockchain. Unlike many generative collections, DeGods takes a unique approach by introducing avatars with mythical attributes combined with modern outfits. There are around 9,465 NFTs that you can buy to use as your profile picture.
The market value of this popular project on Solana is 92,390 ETH, and the base price is over 9 ETH.
PFP NFTs are the trendy way to show off your NFT collection
As we can see, PFP NFTs are more than just digital collectibles. They have become a new form of expression, allowing collectors to showcase their personalities and tastes through profiles on social media. In addition, PFP NFTs offer various benefits, including access to exclusive events or clubs and the ability to monetize your digital assets.
The popularity of PFP NFTs has increased rapidly and it seems there is no stopping their growth. With more and more creative projects launching regularly, collectors can find the perfect PFP NFT that resonates with them.
In conclusion, PFP NFTs are a unique way to express yourself in the digital world while having a valuable resource. It’s an exciting time for NFT enthusiasts. We look forward to seeing what the future holds for this rapidly growing industry.
