A profile picture, or PFP for short, is an NFT collection that is created to be used as an online identity or alias – like the CryptoPunks and Bored Apes that have recently taken over crypto Twitter.
Launching back in 2017, CryptoPunks were generated and distributed for free on the Ethereum blockchain and are widely considered to be the first PFP NFT collection. As such, they have become a widely sought-after asset, with CryptoPunk #7523, one of 9 “Alien” CryptoPunks, selling for a record $11,754,000 on auction at Sotheby’s back in June.
This year, demand for CryptoPunks and NFTs, in general, has soared. For example, on the 1st of January 2021, 3 CryptoPunk’s were sold for $73,854. Eight months later, on the 28th of August, 307 CryptoPunks were sold for a total of $142,197,930.
One of the other NFT collections that have risen to prominence is Bored Ape Yacht Club. The apes were released in April 2021 and were mintable for less than $200 per NFT. The floor price is now roughly $130,000.
Like CryptoPunks, Bored Apes feature a host of different traits. The second most expensive Bored Ape sale ever occurred this week, with Ape #8585, ranked 308 out of the 10,000 collection, selling for 696 ETH. This ape has the notable ‘Trippy’ fur (0.73%) and King’s Crown hat (0.71%) traits.
Source: https://www.cryptocompare.com/email-updates/daily/2021/oct/27/
