Previously, we explained different types of NFTs, like NFT tickets, music NFTs, and so on. Now, it is time to focus on PFP NFTs!
In our calendar system, you can encounter different PFP NFT projects, and this circumstance shows that the popularity of this type of NFTs is increasing day by day. Hence, knowing what is PFP and the details of this NFT type can expand the knowledge about this virtual world.
What Are PFP NFTs?
PFP stands for ‘profile picture’; we encounter the notion of ‘profile picture non-fungible token’ when the term of ‘PFP’ is combined with the term of ‘NFT’.
In simple words, a PFP NFT is a kind of NFT, like NFT ticket, and this kind can be used as a profile picture on different digital platforms, such as Twitter and other social media platforms.
In addition to the usage as profile picture, some PFP NFTs can be used as avatars in Metaverse. Therefore, we can say that PFP NFTs are helpful and beneficial for users to show their identities and communities.
These NFTs are considered as NFT collections because they are produced in large amounts with different rarities. For instance, the popular NFT project CryptoPunks is a PFP NFT project which involve a lot of characters with different traits and rarities. Some CryptoPunks characters are male or female while some of them are zombie, ape, or alien. Also, the physical appearance, like hair color and the existence of a glasses, in this Ethereum-based project is changing.
Why Do People Buy PFP NFTs?
As we emphasized above, these NFTs help NFT enthusiasts to show themselves, but these NFTs also offer different advantages.
Some projects have various utilities, like accessing a famous person or participating in a physical event. In other words, some projects present aesthetics with different utilities, so people purchase this type of NFTs. However, before buying these NFTs, people must conduct research into this type of NFT projects because some of the projects do not offer any utility.
In addition to the utility side, some projects’ developers present an amazing idea. With the idea, they expand their community, so other people want to invest in the project to be involved by the community. Shortly, the philosophy/idea behind an PFP NFT project can affect people’s investment desire.
With showing the identity, people can show their ownership in the virtual world via PFP NFTs, so this situation is another advantage of this type of projects.
The Future of PFP NFTs
We can realize that PFP NFTs are very precious, and a lot of people buy them from secondary NFT marketplaces and use them on social media platforms and metaverse platforms. However, every PFP NFT project does not have the same popularity.
For example, Bored Ape Yacht Club and Azuki NFTs are very popular and valuable PFP NFT projects, but what about others? In the NFT space, there are many PFP NFT projects, but every project cannot be successful. Then, these projects lose their communities and become a history.
Moreover, there are lots of scam PFP NFT projects which are trying to swindle NFT lovers. Hence, researching digital projects, especially PFP NFTs, is always a critical issue.
Due to the existence of lots of projects and scamming, we think that PFP NFT projects can be forgotten in the future. Furthermore, we can mention the utility side of these projects at that point. Generally, people prefer NFT projects with more utilities because they want to get both digital and real-world rewards. For example, most of the NFT lovers are playing NFT-based games to earn crypto/NFT, but PFP NFT projects cannot offer the similar circumstance to us.
On the other hand, the popular PFP NFT projects will maintain their popularity in the future because they are developing day by day and increasing their utilities. Also, their high trading volumes are affecting NFT investors’ opinions about the NFT world.
Some Popular PFP NFT Projects
We mentioned Azuki NFTs, CryptoPunks, and Bored Ape Yacht Club as PFP NFT projects above. These three projects are popular projects in the NFT space, so we think that you can encounter them on social media platforms.
With these three projects, we can talk about Worlds of Women, Doodles, Cool Cats, and Meebits. These projects are considered by lots of people in the NFT space for investing.
If you want to show your ownership and identity on social media with a colorful way, like Snoop Dogg, Jimmy Fallon, and Serena Williams, you can consider purchasing a piece from a PFP NFT collection.
Before buying this NFT type, we are suggesting an appropriate and detailed research for not investing in a scam project.