The better world of crypto-collectibles has attracted a lot of players. One of these is NFTs (non-fungible tokens), which are one-of-a-kind digital assets created, purchased, and exchanged on secondary marketplaces. This guide will describe PFP NFTs and the reasons for their recent popularity surge.
Acquaint Yourself with the Metaverse
This is where things begin to go into science fiction territory if this is your first encounter with the metaverse. The term is a combination of the terms "meta" (beyond) and "universe." A word that relates to the intersection of the Internet, augmented reality, and virtual worlds.
You will not access the Internet through a computer or a smartphone; instead, you will be immersed in it. Your working day will have the sense of a video game. While grocery shopping, you'll be able to browse your kitchen. Is this vision of the future becoming more apparent?
NFTs are seeds that will aid in the metaverse's growth. What appears to be a simple JPEG file could become virtual space's next unicorn company.
The Presence of PFP NFTs
A profile picture, or PFP, is a common kind of NFT. They are miniature works of art that you may view as your Twitter profile photo. Celebrities and influencers garner attention for their high-profile purchases. CryptoPunks was the first PFP NFT to launch in 2017.
Over 10,000 unique avatars were developed and given for free on the Ethereum blockchain. Due to the rarity of certain qualities, these avatars were first viewed as treasures. Then, blockchain evangelists used them on social media to indicate their membership in the crypto tribe.
Purchasing a CryptoPunk has become far more difficult. If you can locate one, the price may range from six figures to millions of dollars, varying based on its rarity. Visa paid $150,000 for one recently. Nevertheless, all is not lost since other new projects have adopted the CryptoPunk approach.
PFP NFTs: Why Would You Own One?
This is the point at which we should revisit our previous discussion of the metaverse. Numerous things that we use in the real world will also be required in the virtual world. A CryptoPunk avatar, for example, is a fun way to flex in the metaverse as it's the Lamborghini of the digital world. A means of notifying everyone of your existence.
Naturally, not everyone can afford an exotic car, and not everyone desires one. NFTs enable you to express yourself freely while still being a part of a community that shares your beliefs. Additionally, as they mature, the value of your NFT typically increases.
There is no better example of how a community contributes to NFT value creation than Bored Ape Yacht Club (BAYC). The project followed the CryptoPunks model of minting 10,000 unique avatars that functioned as club memberships.
They collaborated with Decentraland, a 3D Ethereum-based virtual world, to develop their casino hangout. This was a watershed moment, as these communities were no longer confined to Discord and Zoom but instead met in the metaverse.
If that all sounds too good to be true, they also allowed members to adopt a dog from the NFT, also known as the Bored Ape Kennel Club. This is comparable to a membership dividend, as the dogs' value climbed in perfect sync with BAYC's.
Top 10 PFP Projects
CryptoPunks was the pioneer of the NFT boom, and its importance as one of the most popular PFP NFTs on the market continues to grow. This collection was launched by Larva Labs in 2017, and it has been continuously valuable since then, with sales exceeding $11 million. Christie's also auctioned a collection of these NFTs for a total of $17 million. So, CryptoPunks is essentially the gold standard for PFP NFTs.
Other creatures were inspired by the Punks to utilize the same pixel art style in their own NFT collections.
2. Bored Apes
BAYC is not far behind in terms of popularity. In fact, when it comes to ape-themed NFTs, this is the most popular and greatest NFT PFP available.
They, too, held a large auction house sale — one ape was sold for $3.4 million at Sotheby's. DJ Khaled, Jimmy Fallon, and Diplo all own these apes. Additionally, NBA superstar Stephen Curry may be spotted on the BAYC Discord. Also, brands such as Adidas jumped on board to secure a Bored Ape NFT to use in the Metaverse to promote their brand.
The Bored Apes and Mutant Apes, their second most popular collection, are often purchased as long-term investments by DAOs.
3. Fast Food Punks
Fast Food Punks is a collection of 1,000 hand-drawn PFP NFTs. The project's creators intended to create a parody of CryptoPunks. So, they drew inspiration for their boutique line of PFP NFTs from CryptoPunks and the Bear Market Fast Food meme. Previously, Fast Food Punks earned $574K for the Ronald McDonald House Charity.
4. Lazy Lions
Lazy Lions' booming success has undoubtedly been a high point of the NFT frenzy in 2021. So naturally, it is frequently ranked as one of the top PFP NFTs to reach the market. As a top-tier NFT, the collection has amassed impressive figures, including the highest reported sale of 99 ETH. Recently, more celebrities joined, including Latin singer Price Royce and UFC champion Chuck Liddell.
Lazy Lions also boasts a fantastic community with a vibrant Discord channel. By recommending friends to Lazy Lions' discord, you can get certain card collectibles. Also, as a holder, you can look forward to ROARwards, a program designed to recognize the user community.
It's one of the most active communities on Twitter and one of the most often used animal NFTs.
Humanoids is a collection of one-of-a-kind three-dimensional art comprised of over 150 traits. It is, without a doubt, one of the most popular PFP NFTs of 2021. Mike Shinoda of Linkin Park is holding two humanoids. Other than that, the project contributed $20,000 to a charity selected by members of its Discord community. This one briefly took over Twitter, as it was used as an avatar by thousands of accounts.
6. Sappy Seals
Any list of the top PFP NFTs must include Sappy Seals, which are enormously popular due to their adorableness. On Discord, over 27K members celebrate and relate to these cute seals. The project's importance also stems from addressing environmental challenges threatening real seals by soliciting charitable donations for ocean cleanup.
7. Gutter Cats Gang
The Gutter Cats inhabited a post-apocalyptic world in the year 2050; a devoted fan base developed around this lore, making Gutter Cats a popular PFP NFT. The collection is split into different sets that correspond to various types of community memberships. The Gang's basic membership consists of Gutter Rats, Dogs, and Pigeons, while premium membership consists of Gutter Cat owners.
Since the summer of 2021, cat-like PFPs have become quite popular.
8. Doge Pound
Doge Pound is not as well-known as the other PFP NFTs on this list. However, it does take on the characteristics and events of the greater crypto-community. For starters, the collection's central subject is based on the popular Dogecoin meme.
Additionally, Doge Pound owners have access to the Doge Pound Puppies art collection. Dog PFP NFTs, predictably, are extremely popular among NFT collectors.
9. Creature World
Creator World, created by artist Danny Cole, is as enigmatic as it is legendary. According to Lore, these Creatures serve as guides on this spiritual journey toward love and insight, which helps explain why they are also popular as PFP NFTs.
10. Mad Banana Union
On the Ethereum blockchain, Mad Bananas has 6,969 randomly produced PFP NFTs. Bananas have an unusual combination of eyes, mouths, caps, and other features. Holding a Mad Banana entitles you to free stuff, promotions, and an exclusive chess tournament. Banana owners can earn 2.5% royalties on the secondary market when they sell their NFTs.
There is a lot of speculation in the crypto world, but it's vital to realize that PFP NFTs are very difficult to sell. PFP NFTs are analogous to artwork. Selling it quickly is not an option if you need cash. Instead, find a piece that speaks to you and that you can use in your own way instead of looking for something to flip.