Thread by @equ1l1br1um_

🧵 The #EightBitMe PFP Movement

1/ Lots of people think that @eightbit pumped just because of the @kevinrose connection. What a majority of people missed is the history behind it, which is way bigger than that.

What I am about to prove is : ...

#eightbit

2/ that #cryptopunks is not the first PFP widely used by crypto people on social media.
And most importantly, not even the first PFP on the blockchain.

3/ The #eightbit app (NON-NFT) is available from 2010 or 2011. People were creating avatars through the generator and using them as their profile picture on social media websites like twitter, github, instagram.

So the app was made purposely for PFP usage

4/ Mentioning at this point these were not NFTs, not on the blockchain.

People were actually tweeting about this back in the day

5/ The best part is that many crypto developers and people from the crypto space are using or have used one in the past. This makes it the first known project PFP (non-nft) used in the space.

Some examples :

https://twitter.com/gregisenberg/status/28046527421

https://twitter.com/akopec/status/27089322481

6/ Other people from web2 or/and web3 that used a eightbit as their PFP back in the day

Of course @kevinrose is one of them

readwrite.com/eightbitme_is_…

pcworld.com/article/495256…

7/ Designer at Google - Matt Hunter twitter.com/mh

https://twitter.com/rachelryle/status/50173253720879104

https://twitter.com/rachelryle/status/1515419062951505924

@dtrinh who works at snap

@akopec works at instagram, currently rocking a moonbird PFP

8/ There were at least 2 articles back in the day about it's popularity and seems it was play to earn, so expecting a play to earn game in the future from the founders on the NFT collection.

The articles were on VICE and PCWorld

vice.com/en/article/aej…

web.archive.org/web/2011082712…

9/ All the points till now prove that it was the first popular PFP project (non-nft at that time), used on popular social media websites. And more importantly for us, in the crypto space.

But what is coming next will shake some people beliefs in the NFT space...

10/ The key moment for the crypto space PFP collectibles was in 2014 and 2015, when some users, not the founders of eightbit, started registering their eightbits on the @Namecoin blockchain through the onename service.

11/ All of these people that did that are from the crypto space, obviously.

This is the moment those eightbits became the first PFP NFT's on the blockchain. Not as a project, because individual users added them, but from a already existing project outside crypto.

12/ You can read more about the above subject here :

https://twitter.com/snow_nft/status/1439873899953487874

@snow_nft did a very well job presenting some good information

Another good point was made by @SummerTimeFor3 in this thread :

https://twitter.com/SummerTimeFor3/status/1517307188045393920

13/ We also know at least one of the @larvalabs founders was an active user on namecoin-onename

So taking into account that the eighbit generator is older, the resemblance and the above fact, we can speculate that cryptopunks are actuyally inspired from eightbits

14/ What we can't speculate on, because it's already a proven fact on-chain and off-chain, is that #cryptopunks are not the first PFP used on social media in the crypto space, like we do nowadays, but not even the first PFP's on-chain.

15/ On march 30 2022, the founders behind @eightbit , decided to transition to NFT's, by launching a new collection.

These NFT's are from 2022 and nobody is making a claim that these are historical. But what is historical is what I presented to you earlier in this thread..

16/ And it makes #EightBitMe a new mint with historical ties as the first popular PFP in the crypto space. And most importantly that a limited number of eightbits from 2014-2015 are the first PFP on chain.

17/ Big collectors aren't buying the new collection just because they know the founders from IRL. Some also know some of these details and the history behind it. Some do, some don't, so this will be a nice surprise for them also.

https://twitter.com/garyvee/status/1517936906608205824

opensea.io/Pranksy/eightb…

18/ Some important notes on the project :
credits to @Poseidon_SF

- The founders are doxed, have good connections and known as very creative people. They have been active in web2 for more than 12 years.

- There are more than 3k holders and 30% of those are blue chip holders

19/

- The Twitter account has existed since 2010 and has more than 30k Followers

- The biggest flops happen when team over promise, that's why the EightBit team choose to Under Promise and Over Deliver.

20/
- Launched in a semi-bearmarket

- Mint price was 0.05 ETH when average project mint price was over 0.2 ETH

- Low Royalties - Just 5%

- Everyone was given the chance to get in on whitelist and after mint considering the price stayed there for weeks, even went lower

21/ The founders are currently working on the builder and many more things to come.

DYOR and don't let people FUD you out of the next possible blue chip project

Big thanks to @0xWodan for providing a part of the information outlined in this thread.