- PFP Collection
The next option is buying an Avatar or PFP and expanding its use cases beyond a mere 2D profile picture by animating it to create content.
As mentioned above, this is popular on Twitter. We can also see celebrities spending hundreds of thousands of dollars on a PFP, flexing it as their profile picture on social media and making it a norm by the day.
Rationalizing the use of PFPs for content creation
Why might using PFPs be of most projected relevance in the creator economy?
Having brushed through the categorization of avatar types, we now explain the grounds for why PFPs could eventually be a favored avatar type for the new wave of content creators.
The prime benefit comes from the community engagement extended to content creators, now part of the same clique. Using a PFP NFT as your avatar sends out an instant public signal that you are part of their respective community. The common “Follow for Follow” trend within the same community is a strong enabler to building an audience from scratch. Content creators can even choose to go for the PFP NFT whose community will most consume and enjoy their creations. Using an avatar from a PFP collection also implies that the content creator gets to leverage the brand name of that PFP. The content creator’s implicitly linked reputation to a particular PFP nevertheless comes with potentially associated downsides – the BAYC controversy and failure of Azuki’s founder are such examples.
While we might think that the PFP community would be too small and larger audiences need to be acquired for content creators to make a living, in the new creator-to-fan model in which creators are being paid directly by the fans, they only need 1000 True Fans (a now often invoked concept) versus millions of fans. Besides, a community can feel incentivized to spread the word about the project (through retweets for instance) when PFP holders use avatars from their same collection to create content – a matter of pride in themselves being holders of that collection.
Content creators opting for PFP avatars would largely be recognized through their PFP ownership. In that case, save for creators with an already established reputation in real life, it might not highly matter to link the content creator’s real identity to that of the avatar. This could largely drive the adoption of PFP Autonomous avatars by all other clusters of content creators.
This is why in the long run PFP avatars could mushroom in mass popularity, mainly among Gen Z:
- No discrimination: Creators can publish content without the obligation to reveal their faces or identity publicly; they get judged purely on their content quality.
- Convenience: Creators save ample time and resources, enabling them to focus on their content creativity, by eluding having to set up a home studio and getting dressed up before facing the camera.
- Creativity: Avatars allow creators to portray themselves in their desired way, allowing them to experiment with different looks, genders, and identities.
To truly express ourselves and identify with our virtual selves, we need to have ownership of our digital identities. This is implicitly achieved when representing the latter by a PFP given NFTs allow for digital ownership. Content creators also get to carry their avatars across different apps and virtual worlds via NFTs.
Co-creation, on the other hand, is honed by web3 acting as a facilitator to pool different skills and collaborate seamlessly online, whereby DAOs, NFTs, and Social Tokens all enable collective groups to co-create content. This again pieces together our predictions of PFPs intersecting with the creator economy.