There was a time when posting an image of your real face on social media was common practice. A vacation photo, a photo ID, a photo of you and your pug; these were all common ways of presenting oneself to the world. But that time is over and a new era of social signage has begun.
Non-fungible tokens (NFT) are one of the most innovative creations in the crypto industry. Here, artists and communities are constantly pushing the boundaries of art and property. A popular use case for more expensive NFTs that has emerged in this space is NFT profile pictureor PFP.
What is a PFP NFT?
The PFP NFT began when a collection of 10,000 pixelated characters called CryptoPunks. The collection launched for the first time Ethereum in 2017. At the time, Ethereum holders could get them by paying a small gas costs to generate a single punk.
Each person who did so received an algorithmically generated NFT character, each with their own random set of traits of varying rarity. If you want to learn more about how the rarity of different NFTs can be measured, you can check out the Kraken Learn Center article What is an NFT rarity ranking?
As the NFT craze peaked in 2021, everyone wanted their own CryptoPunk NFT due to its enduring prestige as the premier Ethereum PFP collection.
The surge in demand for the collection’s limited supply has caused CryptoPunk’s prices to skyrocket. Currently, the floor price of CryptoPunk NFT is 65 ETH (~$106,000). Only a few crypto enthusiasts own one, and as a result, they have a unique level of prestige.
It didn’t take long before people started replacing their Twitter profile pictures with their CryptoPunk NFT personas to establish themselves as early adopters and express their punk personas. This trend paved the way for holders of other popular NFTs to follow suit, and before long, PFPs became mainstream.
Nowadays, a variety of NFT collections fall into the PFP category. Bored Ape Yacht Club is another important collection featuring portraits of monkeys sporting unique facial expressions, accessories and clothing. The designers then produced two additional spin-off collections – Mutant Monkey Yacht Club And Bored Monkeys Kennel Club. All three collections are often featured as profile photos on social media platforms.
doodles is another popular collection of colorful cartoon characters that are easy to spot on social media platforms. Some OG NFT collectors choose to feature smaller collections such as SlimHoods, lazy lions, And Force 0N1 than their social profile pictures.
How to use an NFT as a PFP
Twitter is the main social media platform that supports NFT PFPs. Any NFT can be used as a PFP, the options are limitless!
To officially post your NFT on your Twitter profile as a PFP, you must first:
- Pay for a Twitter Blue subscription (~$8-$11 per month).
- Download the Twitter mobile app (free).
Next, you will need to head to your profile on the mobile app, tap on your profile picture > “Edit”. Three options will appear, including “Choose NFT”. Click this option to access a screen prompting you to connect your crypto wallet which stores the NFT. Be very careful when connecting a crypto wallet to a third-party website or application and verify the URL and security certificate before proceeding.
The social media platform currently supports multiple wallets, such as:
- Ledger Live
- Trust Wallet
Once logged in, you will be able to select the NFT you want to display as your new profile picture.
Twitter crops all PFP NFTs in a hex fashion to differentiate them from normal profile pictures.
Beware of counterfeits
While blockchain technology allows you to prove to the world that you are the true owner of an original media file, it does not stop people from copying PFP NFT images and creating their own NFTs for themselves.
Some may pose as legitimate NFT holders to round up followers, mislead people, or commit fraud – something to keep in mind when navigating the minefield that is “Crypto Twitter”. If you want more tips on how to protect your crypto and NFTs, be sure to check out our Crypto Security 101 Video Series.
Why buy an NFT PFP?
Not only can a PFP serve as a visual extension of the digital identity you wish to create for yourself, but it can also demonstrate your commitment to the cryptocurrency movement and your appreciation of digital art.
Holders are also finding new ways to increase the utility of their NFT PFPs by creating exclusive communities, selling physical merchandise emblazoned with their NFTs, and providing early access to new NFT collection launches. When it comes to the practical benefits of owning an NFT, things are changing – and getting better – every day.
These materials are for general informational purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell or hold any digital asset or to engage in any specific trading strategy. Some crypto products and markets are unregulated and you may not be protected by government indemnities and/or regulatory protection schemes. The unpredictable nature of crypto-asset markets can lead to loss of funds. Tax may be due on any return and/or increase in value of your Crypto Assets and you should seek independent advice on your tax position.