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Bittime - What is anNFT? How to create and organize it? Why are NFT profile pictures so popular and valuable? This article will answer these questions and discuss the phenomenon of NFT profile pictures, also commonly known as NFT avatars.
What Is an NFT Profile Picture?
NFT profile pictures are digital assets used as profile pictures on social media, such as Twitter, Facebook, Instagram, or Reddit. NFT profile images differ from regular profile images because they are non-fungible tokens (NFTs), meaning they are unique and cannot be exchanged with other similar assets.
NFTs are digital assets that represent ownership of unique, non-fungible assets, such as works of art, music, videos, or items found in videos and games . NFTs are authenticated on the blockchain network, which ensures a transparent and immutable record of ownership.
NFT profile images typically feature a variety of designs, ranging from static to animated or interactive, often depicting characters, animals or abstract shapes. These are usually head and shoulders portraits, with some collections offering full body or even animated versions.
The rise of NFT Avatars
The NFT profile picture phenomenon emerged along with the development of NFTs in recent years. NFTs have changed the crypto landscape, revolutionizing the way people view and value digital assets. NFTs have created a new market for digital art and crypto collectibles, attracting interest from artists, collectors, investors and enthusiasts.
One of the first NFT collections to catch the public's attention was CryptoPunks, which was launched in 2017. CryptoPunks are 10,000 pixel art images depicting punk characters with various attributes, such as hair, accessories, or backgrounds. CryptoPunks is considered one of the first generative avatar projects, that is, a project that involves randomly generating NFT profile pictures using an algorithm.
Since then, many other generative avatar collections have appeared, such as Bored Ape Yacht Club, Pudgy Penguins, Cool Cats, Mutant Ape Yacht Club, and others. These collections offer unique and interesting NFT profile images, with a variety of themes, styles, and features. Some collections also offer additional utilities, such as access to exclusive clubs or communities, the right to create derivatives or variations of an NFT profile image, or even the right to generate revenue from an NFT profile image.
Popularity of NFT Avatars
NFT avatars have become a very popular feature on social media for several reasons, as they allow individuals to establish ownership and provenance in the digital world. By owning an NFT as a profile image, individuals can assert exclusive rights to a unique work of digital art, with blockchain technology ensuring a transparent and immutable record of ownership. This aspect of digital ownership has attracted individuals by offering a tangible, verifiable way to own and display digital assets.
Additionally, NFT profile pictures also provide a way for individuals to express their identity and personality uniquely and creatively. By choosing an NFT profile image that reflects their interests, style, or values, individuals can show who they are and what they care about in the online environment.
NFT profile images can also help individuals to interact and connect with people with whom they share similarities or affiliations, such as members of certain NFT communities or fans of certain digital art.
In addition to their personal and social aspects, NFT profile pictures have also attracted individuals due to their investment potential. The market for NFTs, including profile images, has experienced rapid growth, with some profile images selling for significant prices. According to data from Cryptoslam.io, in 2021, NFT sales volume reached 17.6 billion US dollars, an increase of 21,000% from 2020.
Some NFT profile picture collections, such as CryptoPunks and Bored Ape Yacht Club, have reached market values of more than 1 billion US dollars. While investing in NFTs carries risks, the potential for financial gain has attracted individuals who view NFT profile pictures as assets with appreciating value.
Also Read How to Buy Crypto:
How to Create an NFT Profile Picture
The process of creating an NFT profile image includes several stages, starting with the creation of the artwork itself. Anyone can design their own unique piece of digital art or commission an artist to create it for them. The artwork should reflect their personal expression and identity, taking into account visual elements, aesthetics and overall concept.
Once the artwork is complete, the next step is to convert it into an NFT using the appropriate platform. There are many platforms available to create NFTs, such as OpenSea, Rarible, Mintable, or Foundation. These platforms typically allow people to upload their artwork, add metadata such as name, description, or attributes, set a price or auction mechanism, and choose which blockchain network to use, such as Ethereum, Binance Smart Chain, or Polygon.
Once the NFT is created, the final step is to showcase it as a profile image on social media. This can be done by downloading the NFT image and uploading it to the desired social media account, or by using special features provided by some social media platforms, such as Twitter.
How to Set an NFT Profile Picture
Twitter was one of the first social media platforms to officially support NFT profile pictures. In January 2022, Twitter launched a feature that allows users to link their crypto wallets to their Twitter accounts and display the NFTs they own as profile pictures. This feature also provides a custom hexagon frame for the NFT profile image, as well as further information about the NFT when the profile image is clicked.
To set an NFT profile picture on Twitter, users need to fulfill several requirements, namely:
- Have the Twitter app on their phone, as this feature is not yet available on the web or desktop.
- Subscribe to Twitter Blue, which is a paid service that offers additional features such as undo tweets, folder bookmarks, and reader mode. Twitter Blue is available in several countries, such as the United States, Canada, Australia, and New Zealand, and costs a few dollars per month.
- Have a crypto wallet supported by Twitter, such as MetaMask, Coinbase Wallet, Rainbow, or Trust Wallet. Crypto wallets are applications that allow users to store, send, and receive cryptocurrency and NFTs.
- Follow the transaction verification process to confirm wallet ownership.
- Select NFT from wallet as profile picture.
- Twitter will automatically update your profile with the selected NFT and add a hexagon frame.
- This process may vary depending on updates from Twitter.
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Also Read:
Getting to Know the NFT Ecosystem: A Comprehensive Guide to NFT Investments in the Metaverse
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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