What do pfp mean ? Role of NFTs in PFP

What do pfp mean ? Role of NFTs in PFP
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Profile Picture (or) PFP is the first thing people upload when they start using Facebook, TikTok, Instagram, Twitter, Snapchat or whatever social media website out there. It dates back to the early internet age where people upload pictures of themselves to represent us on the internet. 

Profile Pictures is a representation of ourselves on the internet. We can post specific stuff on the internet to flex our wealth, beauty (or) whatever we are proud of. People start using filters, fake images (or) edited images to prove themselves great on the internet.

PFPs are profile pictures, but for people in cryptocurrency, it is an identity and a place to show off their wealth, character, & ability to the world.

How does NFT offer a clean solution?

Since the launch of crypto punks in 2017, no one imaged that people would go crazy to buy them for millions of dollars. Yes, these millionaire PFPs are worth millions of dollars since they are verifiable on the blockchain. 

These punks are a representation of a person on the internet. If someone owns a punk, it is indirectly saying that he/she is worth millions of dollars. However, this time, we can verify it from a trusted source, the blockchain.

Are these PFPs worth it?

Are the Rolex watches & Gucci belts worth it? Yes, of course, they bring in the validation of who we are and what we are capable of. However, on the internet, it does not worth a penny. 

However, these NFT PFPs are valid on the metaverse, the upcoming universe where we all co-exist in the internet world. 

So all these NFTs are provided with full rights over the image, so if someone owns them, they can show the world that they are the real one who owns it. Each NFT has metadata, the information related to the NFTs and are stored on the decentralized filesystem called IPFS.

Suggest some PFPs to flex wealth on the internet

Not just limited to these, but we can buy something on opensea.io with a strong community behind to flex our wealth.

How to validate these NFT PFPs?

  1. Check for the community. Some can buy Twitter followers, so check out their discord and find out how active the NFT you are planning to buy is.
  2. Liquidity - Check the number of offers on each NFT in the collection & the slippage between market price and these offers.
  3. The volume of Trades - Check the daily volume of trades.
  4. Holders/Owners - Larger the number of owners, the larger is its ability to become a significant wealth creator.

If you want to show the metaverse (or) the internet world that you are a person of significance, you do not need to buy a Rolls Royce and post videos of you travelling in it. It is 2021, and the way you show it is by owning a costly community NFT.