Among the great trends of the NFT market of 2021 there was a real explosion for the NFT Avatar or PFP project.NFT avatars are digital characters in a ‘profile picture’ format generated by an artist’s algorithm.
Each NFT avatar is individually unique, community-driven and intrinsically valuable as a form of digital identity, investment, and provider of community perks. In the last few months, NFT avatars have become synonymous with their oen identity and reflect a status along with the position held within the crypto community.
The PFP or NFT avatars have become the most valuable projects in the ecosystem and on the secondary market, also going beyond crypto borders and reaching mainstream characters – as happened for the host and comedian Jimmy Fellon who announced the acquisition of a Bored Ape. – who, following the addition in his wallet, then changed his avatar on social media profiles.
These communication channels are the ones that first allowed the generation of Millennials and then Gen. Z to build their own brand identity based on the avatar chosen on the profiles in order to communicate their personality or creativity. Now, thanks to the use of non-fungible tokens, we have become the real owners of that image used as an avatar: this is a great paradigm shift for digital identity, taking on a great value in contemporary society.
Among the first projects that have been very successful in the crypto community are the CryptoPunks, whose possession has become a real status symbol, followed by the Bored Ape Yacht Club.
Among the most important characteristics of the NFT avatar it is important to consider the issue linked to the rights of use of the image itself, which precisely following the acquisition, offer the opportunity to use the image of one’s avatar in all ways.
Just this year, a more unique than rare case is the one linked to the acquisition by VISA of its first NFT as a form of investment and it is no coincidence that it was one of the CryptoPunks series.
Among the first actions carried out by VISA’s Marketing and Communication Team, even better than a classic press release, was the change of the profile photo on Twitter, the most important social media in the crypto community.
A real stance to all effects that has achieved the desired results: with an “investment” of a few hundred thousand dollars, the news went literally around the world, conquering the pages of every economics and finance magazine but also the ones of culture, crypto and general news.
WHY DO PEOPLE AND BIG COMPANIES USE NFT AVATARS?
1 – TO BECOME PART OF THE NFT COMMUNITY
Owning the NFT avatar of a particular project allows you to be recognizable as part of the large NFT community. On a social level, people all want to be part of a community to share its values, distinguishing themselves from the crowd by building their own unique identity marked by the traits or personality that the avatar communicates.
2 – AFFIRMATION AND RECOGNITION OF DIGITAL IDENTITY
An NFT avatar represents the digital identity of its owner. Owning a CryptoPunks or a Bored Ape means giving life to a unique way of building one’s own identity, a synonym of investment given by the price, but also by the phenomenon that spins around the acquired PFP project.
In fact, there is no lack of trend for some NFT avatar projects that are stronger and with more hype around called “follow-for-follow where all those who, through their avatar on social media, demonstrate that they own one of a particular project, all those who are part in that project will support each other on social networks like Twitter or Discord, following each other.