The Different Types of NFTs: A Simple Guide

Profile picture NFTs (PFP for short), are exactly what it sounds like: An NFT that is often used as a digital avatar for a person’s profile picture on social media sites, primarily on Twitter. The first PFP NFTs were CryptoPunks, which were created in 2017 by Larva Labs, which created a set of 10,000 algorithmically generated punks with different attributes. The most famous NFTs in this genre to date are the Bored Ape Yacht Club (BAYC) PFPs, created by Yuga Labs in April 2021. The highest-priced droopy-eyed primate is Bored Ape #8817, which sold for $3.4 million dollars. The BAYC NFT collection is also notable for giving owners the intellectual property rights (IP) of their Bored Apes, thereby allowing holders to have commercial usage rights and monetize their NFTs.