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PFP NFTs Explained – Are They A Terrible Investment?

 



PFP NFTs Explained – Is NFT a Good Investment?



Let's face it: most individuals purchase PFP NFTs with the intention of eventually selling them.


PFP NFTs are perhaps one of the most limited applications of NFTs, albeit it all depends on the owner.



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To see if buying a PFP NFT is worthwhile, use the criteria and questions below.



When You Use a PFP NFT, You Lose Your “Uniqueness”


The fact that you no longer have a distinct appearance, or "you," on social media is the number one reason I despise the concept.


Everyone with an NFT PFP seems to be a bot while scrolling through Twitter. Duck, cat, dog, rabbit, ape.


My eyes have now glazed over them.


When I see someone I want to follow's one, real, unique PFP, I get excited.


Do you like the artwork at all?


Do you like art at all? This is a personal preference, but why own something you don't like?


Many projects, such as Bored Ape Yacht Club, are 10,000 photos containing common, unusual, and extremely rare traits.


They're all ugly in my opinion. I'm not interested just by glancing at it.


Do they have any unusual characteristics?


In a series of 10,000 NFTs or any other predetermined limit, some people will favor features that are extremely unusual. Some qualities are widespread, while others are uncommon, and yet others are extremely uncommon. This might give any PFP NFT a great rarity - something that some people might want.


Is There An Active Community – And Do You Even Care?


Some of the finest communities in the world began with one person and grew to 10,000 over time. Chemistry and rapport are established over time in sports, music, gaming, and hobbies as a genuine leader grows and spreads their impact.


BAYC swiftly climbed to 10,000, thanks almost entirely to the NFT buzz. Do you recognize anyone in the neighborhood? Would you want to hang out with the folks that come up to an elite BAYC party?


These questions are impossible to answer since you joined a group of individuals who were most likely all trying to flip an ape. In many situations, they all joined at the same time.


Huge Rug Pull Risk


PFP NFTs are vulnerable to a rug pull since anybody may submit a slew of "unique" generated rubbish art and then demand payment.


1 ETH for it.


Simply set up a Twitter account and a Discord server for the project. Promote. Lie about the advantages of having one, then vanish. It occurs frequently.





Yes, not all of them are rug pulls, but they do necessitate additional caution while inspecting.


In the end, NFTs can be fantastic, but PFPs seem to be all hype and have little substance. Just make sure you like the work and the community before you buy anything!


 

            
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