The Meteoric Rise of PFP Based NFT Projects

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By Danielle Davis

We are currently witnessing a proliferation of PFP ( Profile Picture)/generative NFT projects launching in the last couple of weeks. In fact, there are people jumping from one to the other and flipping NFTs full time.  In this brief article, we will take a deeper dive into some of the popular projects.

We can’t have an article about PFP projects without first talking about Cryptopunks (also known as Punks). They were one of the first-ever iterations of a PFP project.  In 2017, at the time of mint people paid only gas to claim their Punk.  

10,000 were minted at a time when a marketplace did not even exist for NFTs (they created one on their site). It wasn’t until recently they started gaining value so quickly, with the current floor punk at about 10.5 ETH.  

By the way, in case you didn’t know,  a ‘floor’ NFT is just a non-rare/common NFT that’s listed at the lowest end of the price scale.

Here are a few examples: 

Bored Ape Yacht Club or BAYC, is currently around a 3-month-old project where we have seen the floor prices at times hit 8.5 ETH. So what makes this project so special?  Namely that it offers utility beyond simply a profile picture to use for your Twitter. Members receive exclusive merch, NFT drops of Bored Ape Kennel Club NFTs, not to mention a lot of members-only parties all over the globe.  

Fame Lady Squad is a project that just launched a week ago and has seen some amazing success. This is the first PFP project created and curated by an all-female team, portraying only female avatars. Over 1,300 ETH in secondary sales happened within one week of launch, not to mention some big names in the field being active Lady fans. This includes Gary Vee, Artchick, Wendy O.  Oh, and regular donations to charities.

Top Dog Beach Club is another project that launched fairly recently. And while their sales haven’t been quite as amazing as Fame Ladies over that amount of time, they have some really interesting new utilities coming down the pike soon.  While the ability to name your NFTs has always existed, the first time ever you can give them a backstory! 

Dogs are split into 4 packs, with members assigned to a pack to compete as a team on puzzles and contests.  The dogs also have 2 sections of traits — one section of physical traits ( eye color, skin color etc.) with the other section corresponds to behaviors (loyalty, aggressiveness).  

The team has hinted towards boosting the amount of breeding and gamification in the future. 

 One thing you will notice with all of these projects is the strong community they have. Once you change your profile picture over to a punk/ape/lady/dog,  people from that community start engaging with you.  It’s a nice way to get involved with the community as well as show an artistic representation of who you are as a person. That is if you are able to find the right one!

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