What are PFP NFT Collections? The 2D avatars are taking over Twitter

From Bored Ape portraits to pixelated ones CryptoPunks2D avatar NFTs – often referred to as PFP or profile picture NFTs – have come to dominate the NFT market.

Non-fungible tokens (NFTs) are unique blockchain tokens that mean ownership, but for many the term NFT is synonymous with PFPs such as Bored Ape Yacht Club and CryptoPunks.

However, these PFPs are actually different from blockchain token they are connected to. PFP images – such as of a Bored Ape, for example – are actually the associated metadata linked to NFTs.

What is a PFP NFT?

In short, it is an image, typically static and two-dimensional, that can be bought and sold as an NFT. Usually they take the form of a head-and-shoulders portrait depicting an animal, person, or other such anthropomorphized creature.

PFP NFTs typically have a randomized set of attributes, with varying degrees of rarity (such as color, accessories such as hats and sunglasses, and other more esoteric features). The rarest traits can make a PFP valuable; there are only nine Alien CryptoPunks, for example, and they have traded hands for tens of millions of dollars.

How does a PFP NFT work?

PFP NFTs can either be minted from the NFT collection website or purchased on a secondary NFT marketplace such as OpenSea or Magical Eden. Once purchased, the NFT will appear in the user’s supported cryptocurrency wallet (such as MetaMask or The Phantom) as well as on their profile page on the NFT marketplace where they purchased the asset.

Ethereum PFP NFT owners can link their crypto wallets to theirs Twitter blue accounts to verify the NFT’s profile picture for a “hexagon” shape, or showcase the NFT on Instagram or other social media accounts.

What can PFP NFTs be used for?

Not all PFP NFTs are created equal. Some, for example Mfers or Goblintown NFTs, emphasize that they offer few benefits to holders other than the images purchased; they are often released either in the public domain or under Creative Commons licenseswhich means that everyone can reuse the NFT’s images regardless of ownership.

Other PFP NFTs, such as Moonbirdspromises specific benefits to holders that extend far beyond just the use of the artwork purchased, such as stakes for token rewards, exclusive merchandise, and Discord community access.

And some PFP NFTs are dynamic NFTsmeaning their avatar images may change over time depending on community events or changes in lore.

How are PFP NFTs different from other NFTs?

PFP NFTs primarily center around the fact that each NFT is an avatar that can be used as one’s internet alias rather than a personal image. But an NFT can be associated with many other types of metadata beyond just 2D art.

For example, blockchain-based metaverses such as The sandboxYuga Labs’ The other sideand Decentralized country sell virtual land as NFTs, and PROOF Collective has been selling NFTs that don’t offer art, but instead act as a membership card to access other types of benefits.

Why are PFP NFTs important?

PFP NFTs arguably started the wider NFT cultural phenomenon and are often the first thing that comes to mind when one thinks of an NFT.

They are a starting point for NFT technology and give the crypto-curious a glimpse of what the technology can offer in the future.

The future of PFP NFTs

While game character NFTs for Axie Infinity is the most traded pool of all time by volume according to CryptoSlam data, the PFP NFT pools of Bored Ape Yacht Club (BAYC), Crypto Punks and Mutant Ape Yacht Club (MAYC) fill out the remaining top four spots, with billions of dollars in total traded volume.

But do PFP NFTs have a future? Some believe that the avatar craze is just a fad, and will eventually be replaced by virtual land in the metaverse, membership cards, blockchain games or other benefit NFTs.

But for now PFP NFTs act as a badge of membership to an exclusive club; Bored Ape Yacht Club NFT holders count such as Snoop Dogg and Madonna among their peers, and enjoy access to special events such as Ape Fest.