If you’re into crypto and NFTs, then you’ve probably heard about PFP projects. But what are they exactly? What are PFP NFTs? You may have seen the term online or even been approached about it, but what does it actually mean? In this article, we’ll discuss everything you need to know about PFP projects in the world of NFTs.
What are PFP NFTs?
PFP is the acronym for “Profile Picture” and refers to a type of NFTs (non-fungible tokens) that can be used as a profile picture on various social media platforms like Twitter. Basically, these NFTs do not have any specific utility but some perks. So why do people buy these expensive NFTs? The new era of social media injected a disease into everybody of “showing off”. People share their cars, homes, bank balance, and everything they achieve to impress others. So why not a million-dollar profile picture that is unique NFT in the entire digital world and nobody can copy that.
So you might have a question why would I buy an expensive NFT for a profile picture when I can screenshot any NFT and use it as a profile picture on Twitter. So here’s the answer. Twitter recently introduced a new feature so that you can verify your ownership for PFP NFT and you will get a special frame for your profile picture. So people can recognize you as an original holder/owner of that NFT. You can not verify a screenshot of NFT as a profile picture because that doesn’t belong to you.
Example of some PFP NFTs:
Cryptopunks and Bored Apes are the most popular PFP NFTs projects that sold so expensive. Because most celebrities are involved in buying these projects.
CryptoPunks was a project of 2d images that have unique and rare characters of people (Punks) so the audience can relate to these NFTs. This NFTs collection has a limited supply for a lifetime. So people can relate to these digital characters and due to limited supply, this project sold a bit expensive.
Now let’s discuss another most popular PFP NFTs project “Bored Ape Yacht Club” that are monkeys having unique traits and layers to portray a special character so the audience can relate to the NFTs. This project was minted on the Ethereum blockchain. This PFP NFTs collection was sold very expensive because celebrities bought these NFTs and the project got more popular after celebrities purchasing. The floor price of bored apes is still 90.5 Eth, so you can calculate the floor price by multiplying this by the current Eth price. The bored apes have a limited supply of 10,000 apes.
Bored Apes doesn’t offer any special utility to their holders but some perks. Bored apes recently hosted a giveaway and distributed a special serum to holders so holders can mint their own NFTs. The biggest perk of bored apes was a special bored apes event that was held in new york and this event was not a regular event. Only ape holders were authorized to join this party. At the party, holders were wearing a special dress having prints of their apes.
What are the benefits of having a PFP NFT?
There are several benefits of having a PFP NFT. The most obvious one is that you can use it as your profile picture on social media platforms, which makes you stand out from the crowd and shows that you’re an early adopter of this new technology. Secondly, because they are limited in supply, they may increase in value over time, so they can be seen as a good investment. Finally, some PFP projects offer perks and benefits to their holders, such as discounts on other NFTs or exclusive events.
PFP NFTs are a new trend in the world of crypto and NFTs, and they offer a unique way to show off your status and wealth. If you’re looking for a way to stand out from the crowd, then a PFP NFT might be the perfect option for you.
In this post, we have discussed what are PFP NFTs in detail and their benefits. If you have any questions or suggestions do not hesitate to comment below. I would love to answer. Do not forget to share this helpful information with your friends.