Ethereum Name Service (ENS) domains made headlines after they hit 1 million registrations with a 113% surge for the first time in history. But are they here to stay? Or was it just an impact of the NFT Summer?
While ENS domains are propelling the NFT and Web 3.0 movement, Profile picture NFTs (PFPs) are here to stay. PFP NFTs consist of algorithmically generated art collectibles from a limited edition series and have been largely lucrative for their owners. Besides, PFP NFTs are gaining recognition from corporates around the world.
Twitter Blue allows users to display their PFP NFT. Facebook and Instagram are following suit and are rolling out PFP NFT integration this week! These factors are extremely conducive to the explosion of PFP NFTs this NFT Summer.
There is no denying that ‘22 NFT Summer, much like the last years’, will be a PFP NFT Summer. We have put together a list of the most exciting NFT collections below. This list only includes PFPS, so it doesn’t include “The Otherside” metaverse land that has been trending all week.
Top 5 Trending PFP Collections For NFT Summer
1. Moonbirds
Founded by Kevin Rose and Justin Mezzell, PROOF Collective released 10,000 Moonbirds NFTs at a mint price of 2.5 ETH. Since then, the value of the NFTs has taken off and reached an all-time high of 40 ETH at one point. Currently, the volume traded stands at 135,400 and the floor price is at 25 ETH.
The blue-chip PFP initiative comes with a host of perks that can be availed through ownership and “nesting”. Nesting is the process of retaining ownership of the NFTs and unlocking benefits over time. Moonbirds’ holders are also given access to the NFT-gated Discord server that provides valuable information about drops, events, nesting, and more.
2. Okay Bears
Okay Bears is a Solana-based NFT collection consisting of 10,000 algorithmically-generated bears. Holders get access to exciting utilities including exclusive IRL events, merch drops, outdoor campaigns, and other opportunities powered by collaborations with global brands.
The total transaction volume for Okay Bears has reached 1 million in less than a month since its release. The floor price has increased from the initial offering of 1.5 SOL to 128 SOL. Okay Bears has beaten multiple records including generating $18 million in sales in a day and became the first Solana-branded project to top the Open Sea charts.
In April 2022, the NFT collection recorded more than $12 million in secondary sales and helped Solana reach an all-time high sales volume of $2 billion. Okay Bears are a major reason for Solana keeping pace with Ethereum and emerging as a viable alternative.
Given its massive success, Okay Bears is pegged to be the BAYC of Solana. Solana recently announced their intent to collaborate and help expand the Okay Bears metaverse. The roadmap includes an exclusive marketplace and member-only NFT drops among other things.
3. Murakami Flowers
Murakami Flowers is the brainchild project of Takashi Murakami, a well-known Japanese contemporary artist. The collection is representative artwork, flowers, are expressed as dot art inspired by Japanese TV games created in the 1970s.
Takashi Murakami’s work is well recognized in the fine arts community and in commercial spaces and Murakami Flowers is expected to be a new feather in his cap. His famous flower motif is about to be released as an NFT collection soon. The project is said to feature 11,664 flowers.
The project was to be released at the end of March 2021 but the artist pulled back stating he needed a better understanding of the NFT space. Murakami Flowers launched with a floor price of 6.5 ETH and currently has a transaction volume of 45,700.
4. Beanz Official
Azuki’s Beanz NFTs seem to be creating a unique trend in the marketplace. The BEANZ collection comprises 19,944 NFTs meant to be a tribute icon for the Azuki brand. Where most NFTs eventually face a slowdown in sales, Beanz enjoys continuous growth. The highest floor price was at 6.8 ETH on May 3rd. The collection of 20,000 NFTs has already seen a trading volume of over 54,200 ETH and currently has a floor price of 1.49 ETH.
Owners are granted access to an exclusive Discord channel, merchandise, and collectibles. The project is still shrouded in mystery as the creators have yet to reveal the full plan for the little Beanz sidekicks.
5. PXN Ghost Division
The PXN Ghost Division collection consists of 10,000 NFTs of anime design. The creative team behind PXN Ghost also founded Nanopass, another NFT project. While the two projects are not directly related, they do share the same universe. Each NFT provides the owner with access to the PXN Phantom Network and generates utility tokens to use within the ecosystem.
Since its release, PXN Ghost Division has had a trading volume of 23,400 ETH. At this time, the floor price is at 4.7 ETH, the highest as of yet.
