New: Introducing the world's first secure touchscreen hardware wallets

Shop Now

Up your Web3 game

Ledger Academy Quests

  • Test your knowledge
  • Earn POK NFTs
Play now See all quests

PFP Meaning

Jul 8, 2024 | Updated Jul 8, 2024
A PFP NFT is an exclusive digital image-based NFT that acts as an individual’s profile picture or avatar on social media platforms, websites, and online gaming platforms.

What Are PFP NFTs?

PFP is a widely-used internet acronym that stands for “profile picture”. Thus, a PFP NFT, is a non-fungible token (NFT) that is primarily intended for use as a social media profile picture. Beyond that, PFP NFTs can be used as digital collectibles and avatars, or grant access to a particular online or NFT community.

Like any other non-fungible token, profile picture NFTs are minted and validated on a blockchain protocol, which makes them verifiably unique. They are often based on different characters, such as humans, animals, or objects, and range from static images to interactive or animated designs. These unique digital art pieces can also betraded on secondary marketplaces like other NFTs.

Other forms of NFTs can typically be used for different purposes, such as listening to music, items for web3 video games, proof of ownership of luxury goods, and virtual land. However, the primary purpose of PFP NFTs is to allow users to express themselves using their profile pictures, signify affiliation to a particular NFT community, or simply showcase their rare, expensive collection. They also serve as a status symbol for the holder within an NFT community. In addition, unlike other NFTs whose format or style is based on the creator’s preferences, PFPs are designed to fit the brevity of a profile picture.

Examples of PFP NFTs include CryptoPunks and the Bored Ape Yacht Club (BAYC).

X Verification for PFP NFTs

From January 2022, the social media platform X enabled users to use NFTs as their profile pictures. Notably, the platform introduced a mechanism allowing users to connect their wallet to their X account, thus making it possible to verify that a user actually owned the NFT in their profile picture. To that end, the platform also assigned a special hexagonal border to profile pictures with verified NFTs. 

Depeg

A depeg is a phenomenon that occurs when a stablecoin, which is a cryptocurrency whose value is pegged to another currency, decreases or increases in value relative to the asset it is pegged to.

Full definition

Paper Trading

Paper trading is the practice of simulating trades in cryptocurrencies or other financial instruments, like stocks, without investing real money. Paper trading helps users practice trading strategies before investing with actual funds.

Full definition

Ondo Finance

Ondo Finance is a decentralized finance protocol that brings financial products and services on-chain through tokenization.

Full definition