1/ Rethinking the Comercial Value of PFPs:
This is not going to be a popular thread.
People have invested with the expectations of profit, and anything that threatens those expectations are oft seen as a personal insult.
Hear me out (or not) and save yourself some pain.
This is not going to be a popular thread.
People have invested with the expectations of profit, and anything that threatens those expectations are oft seen as a personal insult.
Hear me out (or not) and save yourself some pain.
2/ Your Monkey isn't Hello Kitty
Evergreen IPs are far and few between.
The majority of character IPs, regardless of their initial popularity, have a limited lifecycle.
You can count the # of evergreen character IPs with the digits on your two hands.
Evergreen IPs are far and few between.
The majority of character IPs, regardless of their initial popularity, have a limited lifecycle.
You can count the # of evergreen character IPs with the digits on your two hands.
3/ They all look the same
The lack of differentiation among PFPs within a single project makes commercialization of "characters" impossible.
There are only 39 characters in the Sanrio-verse and 898 in Pokemon...
And the differentiation of characters is not a different hat.
The lack of differentiation among PFPs within a single project makes commercialization of "characters" impossible.
There are only 39 characters in the Sanrio-verse and 898 in Pokemon...
And the differentiation of characters is not a different hat.
4/ The "Infinite" Supply
We've already seen this.
With the lack of other commercial opportunities beyond the initial 10k mint, project IP owners are forced to create derivatives of derivatives of derivatives to remain relevant.
Where have we seen this before?
We've already seen this.
With the lack of other commercial opportunities beyond the initial 10k mint, project IP owners are forced to create derivatives of derivatives of derivatives to remain relevant.
Where have we seen this before?
5/ What use case?
Wen WL?
Wen airdrop?
Wen token drop?
Wen celebrity pump?
The primary use cases of PFPs are a financial one.
People talk about "community" but hey, the Beanie Babies collectors are and continue to be a community too.
Wen WL?
Wen airdrop?
Wen token drop?
Wen celebrity pump?
The primary use cases of PFPs are a financial one.
People talk about "community" but hey, the Beanie Babies collectors are and continue to be a community too.
6/ Niche and Rigged Market
The primary holders of PFP projects are from a crypto origin and highly unlikely to scale.
The addition of star power has been professionally orchestrated in the world's easiest pump.
Show your mother your monkey and ask for an opinion.
The primary holders of PFP projects are from a crypto origin and highly unlikely to scale.
The addition of star power has been professionally orchestrated in the world's easiest pump.
Show your mother your monkey and ask for an opinion.
7/ Conclusion
Don't get me wrong, there is a personal value to PFPs, whether that be for individual or community identity.
However, the likelihood of mass market is slim to none.
Even the Beanie Baby craze lasted for a decade. I just wouldn't bet your child's education on it.
Don't get me wrong, there is a personal value to PFPs, whether that be for individual or community identity.
However, the likelihood of mass market is slim to none.
Even the Beanie Baby craze lasted for a decade. I just wouldn't bet your child's education on it.
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