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Quantfury Daily Gazette

Profile pictures worth a Lambo

by
Pavel Tsyn
Quantfury Product Communication Team

Animated profile pictures (PFPs) were relatively popular at the early stages of Facebook (NASDAQ: FB) or Twitter’s (NYSE: TWTR) rise, when sharing the identity on the social web was somewhat of a new concept for the general public. Movie characters, comics superheroes, even simplistic emojis could be seen on the profile picture of every third pioneer of social media. PFPs in some way tells a story about the person and their interests at least that was in the past – nowadays animated PFPs associated with its rarity, collection and “flex” amount that is measured in crypto, especially Crypto Punks.

We all get it, it’s not “cool” anymore to show off the Lambo on the profile picture due to the association with negative sarcasm and stigma that surrounds it. Way cooler is to set a minimalistic animated PFP which resonates with the crypto and NFT (non-fungible token) community. From Hollywood stars – to anonymous personas – Crypto Punks are the ultimate and most recognizable NFT profile picture anyone can have, or animated profile pictures in general, that creates a topic of discussions and controversies.

As if putting a Crypto Punk profile picture is not enough – some mention their number of owned Crypto Punk(s), and other tier 1 NFTs. To give an example of how much resonance the Crypto Punk ownership provides – consider a post of a picture of guy in a Lambo that would’ve been ‘relevant’ a few years ago. Now post the same picture with a Crypto Punk covering the face and get blown away from the amount of engagement from NFT communities. Such types of posts create ‘an island’ for others to share, shill and discuss other projects that circle in the world of non-fungible tokens.

Aliens, zombies, monkeys and humans – in the Crypto Punk community not only have different meanings, but also rarity and of course a price tag going from all the way to half a million dollars, and even up to tens of million dollars for rare ones. Just for the image, you would ask? No, but for the status and access to the like-minded, closed and powerful community of punk holders. Still, it’s an image which can be copied, saved and used by others, but retains its value as well as opens the door to the higher circle of people in the NFT community. Might be the most expensive ticket to the VIP club, if you ask me.

On another hand, regardless of the rarity of the piece – the prices fluctuate significantly. At the end of the day, beauty is in the eye of the beholder, even when it comes down to the pixilated NFT art. Will history repeat itself and mainstream adoption of animated PFPs in the form of NFTs be a major trend as it was before?

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