The MANTRA (OM) token’s wild crash on Apr 13, 2025, shocked the crypto world. Discover the causes, fallout, and what’s next in MANTRA’s road to recovery.

In the morning and daytime hours of Apr 13, 2025, the MANTRA blockchain's native token, OM, sat at a respectable market cap of $6 billion, making it the third-highest-ranked cryptocurrency in the 

 (RWA) category, the area the platform specializes in. Everything seemed like smooth sailing for the token.

Then, just after 6 PM UTC, the price of the OM token suddenly began to free-fall, declining from nearly $6 to about $0.50 in the space of just two hours.

A project that started the day as one of the top players in the RWA field was now worth 90% less as the evening approached. OM's abrupt, sharp crash immediately caught the market's attention, with speculation of a 

However, MANTRA's CEO, John Patrick Mullin, immediately sprang into action for PR damage control on social media, reassuring the public that the team members weren’t dumping OM tokens at all. Instead, MANTRA's founder and CEO alleged that deliberate actions of some 

 (CEXs) had caused the catastrophic plunge.

As of our coverage date of Apr 23, 2025, this is a developing story. In this article, we’ll establish what actually happened, who's involved and what awaits the OM token in the foreseeable future.

 decentralized network dedicated to RWA tokenization and utilization in compliance with real-world regulatory requirements.

 It features high scalability and low transaction fees. The project is one of the earliest initiatives dedicated to RWA use via blockchain technology. Originally, MANTRA debuted as a 

 (ETH) in August 2020. In October 2024, the project migrated to its own dedicated Layer 1 platform, the MANTRA Chain. The MANTRA blockchain is based on the Cosmos SDK framework, and is part of the wider 

The MANTRA ecosystem's main products include MANTRA DEX, a 

 (DEX); a digital identity (DID) management tool; a compliant token development and management solution; and a comprehensive compliance and permissioning system. MANTRA has also partnered with global powerhouses like Google Cloud, and with DAMAC Properties, one of Dubai's most prominent developers, to propel innovative solutions for 

Starting in late 2024, right after its own dedicated mainnet launch, MANTRA had become a significant player in the RWA corner of 

 (DeFi). By late February 2025, the platform’s native OM token had climbed to a value of nearly $9, with its market cap peaking at around $8.2 billion. Before the fateful events of Apr 13, 2025, OM was the third-highest-capped crypto in the RWA category, trading at $6.27, with a market cap of slightly over $6 billion, according to the CoinGecko portal.

In the evening hours (UTC time) of Apr 13, 2025, OM began to lose its value precipitously, dive-bombing from over $6 to about $0.52 in the space of two hours. The token’s market cap fell to slightly under half a billion dollars — a loss of more than 90%.

CEO John Mullin was quickly online, reassuring the crypto community that no team member had sold their OM holdings, and that this wasn’t a case of the bad ol’ rug pull. Instead, Mullin alluded that after OM tokens were moved to two leading CEXs (Binance and OKX) to use as collateral, the exchanges initiated a cascade of 

 of positions backed by the token. Both exchanges refuted the allegations, and connected OM’s price collapse to its recent unusually high price 

, and significant tokenomics changes made to OM in October 2024 that greatly undermined its value.

As a chain of liquidations took place, the token’s price started to plummet, causing significant panic that quickly led to further price drops. The situation only stabilized closer to the end of the day, with OM’s price remaining under $1. As of Apr 23, it’s trading at $0.5543 — a far cry from its rate of over $6 just two weeks ago.

After investigating, crypto analytics firm Lookonchain concluded that 17 wallets had deposited 43.6 million OM tokens (4.5% of the token's circulating supply) into the implicated exchanges. Two of these wallets are believed to belong to Laser Digital, one of MANTRA's investors. Another investor in the project, Shorooq Partners, is also suspected to be among the 17 wallets. Both Shorooq and Laser Digital have denied the allegations.

Although the price plunge was immediately compared to the 2022 collapse of the 

 (LUNA) blockchain, many analysts point out that the two crashes are fundamentally different. Terra's crash resulted from structural abnormalities in the 

 regulating UST, the project's stablecoin. In contrast, OM's fiasco is suspected to be the direct result of market-driven manipulation by 

, and possibly exchanges. No security breach, disruption to services or data, or other adverse structural events have occurred on the platform.

While this development is unprecedented for the project, MANTRA has been embroiled in other controversies throughout its history. One of these was its 

, first announced in August 2024 and then delayed multiple times. Around 50% of the wallets believed to be bots were cut off from the airdrop list. However, many considered the bot-culling process to have been conducted without much proof.

There have also been reports of vote rigging in the project's governance system in a bid to obscure MANTRA’s centralized model of profit allocation. Additionally, some analysts have accused the project of "forced bridging" to manipulate the market price. Platform users had to migrate their Ethereum-based OM tokens to MANTRA's native OM tokens via 

, which would increase gas fees and allow the project team to control the token's circulation pace.

How is MANTRA (OM) headed toward recovery?

MANTRA’s CEO rapidly reassured users that the team is now working hard to jump-start the token’s recovery. On Apr 14, 2025, Mullin unveiled plans to initiate a buyback scheme, along with the intent to burn all OM tokens held by the project team. The team's supply totals 300 million tokens, representing about 17% of the total supply.

He also denied factually incorrect assertions circulating online that the team effectively controls 90% of OM's supply. Mullin further assured the public that no large-scale selling events by investors have occurred.

As OM’s value has stayed firmly under $1, it remains to be seen how these PR efforts — as well as the planned buyback and burn — will affect the token’s future.

 as a swap pair with USDT, or on the Derivatives market as the 

Naturally, given the ongoing situation with the OM token, buying OM is at your own discretion, as right now the token is truly for the adventurous and brave at heart.

As of Apr 23, 2025, the OM token is trading at $0.5543, 93.8% lower than its ATH of $8.99 on Feb 23, 2025, and 3,138.8% higher than its ATL of $0.01726 on Oct 12, 2023.

Curiously, most crypto price prediction portals are optimistic about the OM token's long-term prospects. DigitalCoinPrice 

 of $1.81 in 2027 and $2.82 in 2030, whilePricePrediction 

It's hard to verify all the allegations flying around regarding the involvement of exchanges and key investors in the MANTRA OM incident. What matters at this stage is that the project team has been quick and proactive in injecting transparency and clarity into the situation.

The free fall in the token's price seems to be over by now. In fact, OM’s decline was over within hours of the incident. Moreover, unlike Terra's LUNA and UST coins, OM hasn't become worthless. All these factors point to potential stabilization and recovery ahead. The question now is: Will the pace and magnitude of the recovery be enough to save the project in the long term? At this early stage after the collapse, few people could answer the question with confidence. We'll eagerly await the developments over the next few weeks to see if MANTRA finds its way out of the woods. 

Intermediate

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MANTRA (OM): Understanding its wild ride and road to recovery

In this article, we explore WalletConnect's features, its native token (WCT) and how you can trade WCT on Bybit Spot and Futures.​

WalletConnect is an open source bridging protocol that facilitates secure connections between digital wallets and 

 (DApps). With over 38 million unique active wallets and 57,000 supported apps, it’s getting noticed by the crypto community. In this article, we explore WalletConnect's features, its native token (WCT) and how you can trade WCT on Bybit.​

 protocol that allows users to connect their mobile wallets to DApps via QR code. This eliminates the need for browser extensions, and enhances security by keeping 

The protocol supports a wide range of wallets and DApps, making it a versatile tool for users navigating DeFi and web3.

 is essentially a decentralized infrastructure that facilitates a uniformed way for users to easily connect their crypto wallets with thousands of DApps. It operates through a network of

 that relay messages, ensuring reliable and secure connections. The network's design emphasizes scalability and resilience, catering to the growing demands of DeFi. 

When a user initiates a connection between their wallet and a DApp, WalletConnect establishes a secure session through a relay server that enables encrypted communication, allowing users to interact with DApps directly from their wallets. 

The network's architecture ensures that messages are transmitted efficiently, maintaining a seamless user experience.​

The WalletConnect ecosystem comprises various stakeholders, including node operators, wallet providers and DApp developers. Node operators play a crucial role by maintaining the network's infrastructure and relaying messages. 

To incentivize participation, the network implements a rewards mechanism whereby node operators earn WCT tokens, based on their performance and contribution. Prominent organizations like Consensys, Ledger and Figment are among the network's node operators, underscoring its robustness and reliability.​

 is the native utility and governance token of the WalletConnect network. It has a total supply of 1 billion, 

Initially, WCT is nontransferable to ensure that tokens remain within the WalletConnect ecosystem, supporting its focus on network functionality and development. Based on discussions within the community, transfers will be enabled based on community consensus and future governance decisions.

Where to buy the WalletConnect token (WCT)

 on Bybit Spot, and as a Perpetual contract with up to 75x 

. Bybit provides a secure and user-friendly platform for buying and selling WCT, allowing users to participate in the WalletConnect ecosystem. 

How to trade the WalletConnect token (WCT) on Bybit

Bybit's platform ensures efficient execution and provides various tools to assist users in their trading journey with ease.​ 

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WalletConnect (WCT): Bridging web3 beyond wallets and DApps

Circle has launched the Circle Payments Network (CPN), a global payment solution designed to streamline cross-border transactions using stablecoins like USDC and EURC for real-time settlement. 

The S&P 500 rose 2.51% as investor confidence improved following President Trump’s support for Fed Chair Powell and hints of easing U.S.-China trade tensions, despite tempered optimism and Tesla’s earnings miss. Gold rebounds toward $3,400 as the US Dollar weakens and investor caution lingers over US-China trade and Fed concerns. Technicals suggest a possible pullback, with focus shifting to upcoming S&P Global PMI data. The Coindesk Indices, which tracks the broader crypto market, rose 7.46%, with Bitcoin and Ether up 4.68% and 7.70%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is DEEP, up 122.1%, following the launch of DeepBook v3.1 on Sui, which unlocks permissionless pools, enhanced balance management, and cost-efficiency for DeFi.

DeepBook (DEEP), launched on July 12, 2023,  is Sui’s native liquidity layer, using a central limit order book to enable high-throughput, low-slippage, and low-fee trading. 

, introduces several key upgrades: permissionless pools, revamped fee mechanics, and enhanced balance management. These changes make DeepBook more accessible, composable, and cost-efficient for DeFi users. Permissionless pools allow anyone to create custom trading pairs, while the enhanced balance manager supports third-party liquidations and improves protocol stability and user experience.

Check out the latest prices, charts, and data of 

, a global payment solution designed to streamline cross-border transactions using stablecoins like USDC and EURC for real-time settlement. CPN offers faster, programmable, secure, and always-available money movement for financial institutions. It supports services like invoice payments, remittances, treasury services, and payroll payouts. Over 20 design partners, including dLocal, WorldRemit, and BVNK, are contributing to building a more efficient global payments infrastructure.

Yesterday, Bitcoin spot ETFs saw $719.2M in total inflows, with $654.1M from non-GBTC funds and $65.1M from GBTC.

 its incentivized testnet, allowing users to earn $SO tokens by testing its cross-chain lending platform. By supplying and borrowing assets across chains and completing quests, participants earn "Seeds," which will convert to $SO at TGE. Powered by LayerZero, Soul aims to unify liquidity across blockchains.

Beginner

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Circle launches Circle Payments Network for faster, secure global transactions using stablecoins

VeChain (VET) is a blockchain platform focused on sustainability, using eco-friendly technology to support green initiatives across industries and drive a more sustainable future.

Sustainability is now the name of the game across many industries. The blockchain industry is one of them, with several projects aiming to reduce the energy impact of their operations or support green causes in other ways. However, on closer inspection, sustainability has received much less attention in the world of blockchain technology than many people may assume. Indeed, the industry's two leading data portals, CoinGecko and CoinMarketCap, have no "Sustainability" or similar category, despite coming up with hundreds of other classifications.

Some smaller-cap projects outside of the top 100, such as 

 (IOTA), do focus on supporting environmental causes. But in the entire list of top 100 cryptocurrencies by market cap, only one project can confidently be described as having sustainability as its key pillar — 

With a market cap of $2 billion (as of the time of writing on Apr 22, 2025), VeChain stands head and shoulders above any other crypto project in the sustainability niche. The project has been fully operational since 2018, and is among the oldest environmentally focused blockchain initiatives. In short, if we talk about sustainability and blockchain, it would be disingenuous not to mention VeChain and its 

Having championed green blockchain causes since 2018, VeChain announced a significant upgrade initiative in late 2024 to be rolled out in stages during 2025. Called Renaissance, it’s envisioned to further solidify VeChain's position as the leader of eco-friendly blockchain use and introduce a host of technical improvements. In fact, 2025 is the year of the most fundamental upgrade to this notable industry player in its entire history on the market, so it's precisely the time to revisit this project in our coverage.

VeChain (VET) is a decentralized project designed to support sustainability-focused blockchain use cases across various industry verticals.

 The company was first conceptualized and founded as a blockchain project in 2015 by Chinese technology professional Sunny Lu. It launched its Layer 1 network, VeChainThor (VTHO), in mid-2018, becoming one of the first decentralized initiatives to support eco-friendly applications on-chain. The VeChainThor network features low transaction fees and high levels of scalability.

For years, the VeChain blockchain has remained probably the leading decentralized platform in the niche of sustainability. As of April 2025, it retains the leadership position, and is ranked 56th among all cryptocurrencies, with a market cap of $2 billion.

VeChain's sustainable blockchain technology

Many blockchains claiming to support environmental causes typically use the 

, which is indeed much more energy-efficient than the power-hungry 

 (BTC). By using PoS, these blockchains have boldly announced that their energy use is much lower than Bitcoin's. While this is true, these platforms are essentially general-purpose networks that don't specifically design their operations with any particular sustainability use case in mind.

Instead of these two typical consensus mechanisms, the VeChainThor blockchain uses 

 (PoA), touted to be even more energy-efficient than the standard PoS employed by 

 chains. In a typical PoA consensus, a smaller number of validators with "authority" — i.e., a history of reliable behavior on the network — are entrusted to process blocks. This is in contrast to PoS, whereby many validators take part in the staking contest to outperform each other in terms of token holdings. They then receive the right to validate the next block, and have to constantly align their consensus process with other 

As a result, PoS is usually less energy-efficient than PoA. VeChain's PoA model elegantly combines efficient processing, minimal energy use and high levels of enterprise-grade security.

The VeChainThor blockchain network's processing engine also features compatibility with the 

 (EVM), making cross-chain communication with the Ethereum world much easier for VeChain developers and 

PoA block validation isn’t the only sustainability-minded feature of VeChain. Unlike many other popular chains, VeChain also directly enables sustainability use cases, primarily by utilizing its tamperproof and transparent data-tracking mechanism. Thus, enterprises across different industries can track and reliably verify the origin of goods and their sustainability status for eco-friendly supply chain management. For instance, supermarket chains can use the platform to track and verify the carbon footprint of the produce they source; logistics companies can calculate the overall emissions generated along their supply chains; and fashion brands can track sustainable sourcing of materials used for their product lines.

Besides its own blockchain, the project also offers a blockchain-as-a-service (BaaS) platform, VeChain ToolChain, to help businesses integrate VeChain's technology into their business processes via standardized smart contract services.

To further position itself as a champion of sustainability, VeChain launched 

 represents an on-chain ecosystem of DApps that reward VeChain users for completing various eco-friendly tasks, such as using reusable coffee cups, shopping for organic products, picking litter off streets and more. VeBetterDAO is the project’s foray into the individual consumer side of environmentalism, which complements the VeChain platform’s long-standing sustainability features for the enterprise world.

In late 2024, VeChain first announced its planned multi-stage upgrade, Renaissance, to make the platform even more efficient. Its changes are envisioned to take place gradually throughout 2025, and possibly beyond. The Renaissance upgrade touches many parts of the platform, with three key areas involved — a new VeChain staking and node model, technical updates and changes to the dual token mechanism. We'll cover the first two areas below, and the changes to VeChain’s tokenomics in the next section.

VeChain’s PoA block validation model uses a group of 101 trusted Authority Masternodes (AMs) who will fully transition to Validators under the new Renaissance model by December 2025. Each Authority Masternode is approved by the VeChain Foundation. These nodes are responsible for generating transaction blocks. You’ll need to 

 at least 25 million VET to participate in block production, which occurs in fixed 14-day cycles.

Under the platform’s pre-Renaissance model, there are two more types of specialized nodes — Economic and X-Nodes — who stake their tokens to a selected AM/Validator and participate in 

 on the platform. After the Renaissance upgrade is fully rolled out, Economic nodes and X-Nodes will be replaced by a tiered system of Delegator nodes.

Delegators will need to stake a certain amount of VET tokens to mint Delegator 

, which will entitle them to different grades of staking reward multipliers. The more you stake, the higher grade of NFT you receive, and the higher your staking rewards will be. When blocks are produced, AMs/Validators will receive 30% of the total block reward, with the remaining 70% going to holders of the Delegator NFTs.

The image below shows the new Delegator NFT–tiered model, with minimum VET staking requirements and reward multipliers.

While the VeChainThor network is EVM-compatible, there are still differences between its technical parameters and the standard EVM used by Ethereum. For this reason, the Renaissance upgrade aims to reach full EVM compatibility, including implementing the JSON-RPC (

remote procedure call) extensively employed within the Ethereum blockchain.

As part of the Renaissance upgrade, the project will also introduce a new set of tools to achieve more seamless cross-chain capabilities. This will involve integrating new 

The VeChain token model has always been based on two cryptocurrencies: VET and VTHO. VET is the 

 that acts as the main means of value storage and transfer on the platform, while VTHO is used to pay for gas. Now, the Renaissance upgrade also changes the way the dual-token mechanism operates.

Before the upgrade fully kicks in, VTHO is still generated by simply holding VET. After the Renaissance, only staked VET will generate new VTHO for the holder. This should better align VTHO with the active participation of users on the platform. VTHO's inflation rate will also be cut by over 70%, as its issuance will be aligned to a new emission model that considers the total amount of VET staked on the platform.

To further reduce the inflationary properties of VTHO, 100% of all base transaction fees on the network, which are all paid with VTHO, will be 

VET is the platform’s value transfer and storage token. It’s also used for governance and access to various features and apps on the network. VET is a supply-capped token with a max supply of just over 86.7 billion. These properties will not change following the Renaissance upgrade.

VTHO, which is used to pay for gas fees on VeChainThor, is an inflationary token with an uncapped supply. It currently has a total supply of almost 88,7 billion. As noted above, after Renaissance, VTHO will be generated via staking only, and will feature a burn mechanism to reduce its inflation rate.

 as a swap pair with USDT, and on the Derivatives market as the 

In addition, you can take advantage of Bybit’s event dedicated to the VET token to grab a share of a 

. New users can earn VET rewards by accumulating a deposit volume of at least 5,000 VET, or by depositing at least 100 USDT and trading 100 USDT worth of VET via their first Spot trade using their Bybit account. Meanwhile, existing users can also qualify for rewards by trading at least 500 USDT worth of VET on the Bybit Spot market. The event runs through Apr 28, 2025, 9AM UTC.

As of Apr 23, 2025, the VET token is trading at $0.02576, which is 90.8% lower than its ATH of $0.281 on Apr 19, 2021, and 1,243.2% higher than its ATL of $0.001917 on Mar 13, 2020.

Long-term price forecasts for VET are mostly bullish. DigitalCoinPrice 

 of $0.088 in 2027 and $0.14 in 2030, while PricePrediction 

In the long term, VET might even rise to $1, at least according to PricePrediction’s forecast. Its portal is highly optimistic, estimating that VET will hit the $1 mark in 2034.

You might consider investing in the VeChain token VET based on the following:

When Sunny Lu created VeChain in 2015, his vision focused on sustainability issues. VeChain's work in this area has led to the creation of the first decentralized network truly dedicated to making a tangible environmental impact. The entire VeChain ecosystem — including the VeChainThor blockchain platform, VeBetterDAO and VeChain Toolchain — continues to serve as a significant enabler of sustainable technology in the business world.

Now, with the Renaissance upgrade being rolled out for the duration of 2025, VeChain aims to solidify its leadership in this sphere. With the Renaissance upon us, it's hard to see any blockchain platform that could challenge VeChain in the area of sustainability anytime soon.

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What is VeChain (VET): Building a sustainable future for all

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Spotted NFT profile pics on social media and wonder what they're all about? Make sure to read our guide to NFT PFPs to find out more.

Non-fungible token profile pictures (PFP NFTs) have taken the art world by storm, offering unique and exciting opportunities for creators and collectors alike. The term PFP has been used widely in the NFT or crypto ecosystem recently in different contexts, especially as more investors or art lovers have begun to display their profile pictures or avatars in the form of NFT art. This begs the question — what exactly are PFP NFT collections?

In this guide, we’ll explore the popularity of NFT profile pics, their communities, what makes them special, their integration into social media — and their place in the future.

The term “PFP NFT” refers to a non-fungible token profile picture, most commonly used to display the ownership of an NFT in the form of an avatar or character within or beyond the crypto realm.

 gained substantial momentum in 2021, with Punks PFPs including characters that can be zombie, ape or alien. Later, 

 and several other popular projects emerged with PFP NFTs. BAYC includes various cartoon apes that truly look bored, the Meebits features algorithm-generated voxel characters, and 

 creates powerful, diverse cartoon women. 

The popularity of PFP NFTs has continued to grow in the world of social media. People who are fans of certain NFT profile pic projects use avatars of their favorite NFT characters to show their community affiliation or ownership of a PFP NFT collectible they’ve purchased. The NFT project creators who use PFP designs typically have a community structured with its own values, culture or exclusive benefits. Due to their widespread growth, crypto PFPs have quickly become mainstream.

PFP NFTs vs. Normal NFTs: The Differences

Collectors of PFP NFTs use them to express their creativity and personal identity in the digital realm. Demonstrating their interest in digital art with proof of ownership recorded on the blockchain guarantees the authenticity and rarity of the artwork that they own.

Compared to traditional profile pictures, PFP NFTs function like an NFT collection: they’re unlikely to be duplicated due to their exclusivity, and they can be neither forged nor duplicated for resale. Their proof of authenticity and ownership adds to their desirability and value. In addition, owning a PFP NFT often grants individuals access to exclusive communities, events and perks.

On the other hand, PFP NFTs help artists monetize their creativity in the emerging NFT space. The decentralized nature of NFT projects empowers artists with greater control over their innovations, and incentivizes them to keep the ecosystem flourishing.

All humans are unique. Each person has different combinations of character traits, hobbies, looks and much more. PFP NFTs allow people to represent themselves with unique identities because of the advanced technologies and talented artists behind them. One factor that all crypto PFP projects share is a strong focus on the concept of unique identity. NFT profile pic project creators can achieve unique identity goals by creating unique crypto profile pics with varying attributes or traits.

Creators of projects must be careful to keep their characters unique or risk their future. For example, there’s a popular new PFP NFT project called 

, featuring chilled-out bears with a positivity-focused NFT community. A copycat project emerged (called the “Not Okay Bears”), featuring similar bear characters that looked grumpy instead of chill. If the copycat project had proceeded, it would likely have been unsuccessful because of its lack of originality and unique identity.

Many PFP NFT creators use algorithms to generate unique characters with different combinations of traits. In this way, they offer people the value of having a unique or rare identity in the digital world. In addition, people often gravitate toward projects that they relate to or like because of their characters’ stories, communities or utilities. 

Because the world of PFP NFTs is growing so rapidly, the value of a unique identity is something that’s key to all successful projects.

In addition to the unique identity appeal that PFP NFTs offer, there are other reasons for their current popularity. Following are some of the main factors contributing to the popularity of NFT profile pics.

In June of 2021, anyone who didn’t follow PFP NFTs closely and only relied on mainstream news would have believed that the virtual tokens were nearly dead. However, their popularity skyrocketed later that summer — and left many people wondering why. One well-known investor who purchased a CryptoPunks PFP NFT for $2.7 million expressed immense confidence in the asset. 

 pointed out that people may have once thought paintings by now-famous artists were worthless investments, comparing his punk to a Jackson Pollock painting. Crypto PFP project creators offer exclusive community access to token holders, who can connect with other like-minded people.

One good example of community popularity is BAYC. Members have access to an exclusive Discord channel, and a few notable NBA stars are members and hang out there. Also, there’s a wall (quaintly titled “the bathroom”) where BAYC members can create their own artistic contributions or express themselves. 

These are just a few examples. Every project has its own unique community structure. The communities often attract people who are searching for places where they feel comfortable. For instance, Okay Bears created a community in which people are encouraged to support each other, share positive content and even create positively-focused fan art.

Crypto PFP project creators choose a variety of attributes or characteristics for NFT profile pics. These traits potentially appeal to buyers for two main reasons. First, while investors may buy NFT profile pics based on rarity, fans most likely buy them based on attributes they can relate to. Most tokens show a breakdown of characteristics or attributes and their rarity. For example, cyborg eyes are especially rare with BAYC characters, and a king's crown (hat) is also rare.

However, bored eyes are common. Rarity can also be found in background color, clothing styles and other avatar features. With the Okay Bears, backgrounds that are purple are the rarest. Buyers who feel connected to the community may choose crypto PFPs based on attributes that seem to represent themselves, their feelings and/or their own personal taste.

A road map gives an indication of what a project plans to launch, how many tokens there will be, what utility members will receive and what people can expect from community participation. Some of the most successful projects have used road maps to help generate hype, working to build a frenzy even before their initial sales. Road maps also demonstrate to investors that the project is staying on track with its goals. For example, a quick scan of the BAYC road map indicates that it’s reached 100% of its goals.

 profile pics sold out in three minutes. Why? Simply because the creators decided to spread the word about the project on social media before launching. By creating a rebellious skateboarder vibe with cool anime characters, the project's four anonymous co-founders built a lot of interest. Moreover, they partnered with a conceptual artist who designs exclusive merchandise and more. The project hopes to have such a large presence that it may eventually include exclusive games, a miniseries and more. Azuki's road map is called the Mindmap. It demonstrates the creators' mission and values, metaverse information, future plans, community resources and real-world benefits for members.

 succeeded in building hype with its road map (which it called a blueprint). The crypto PFP project's 10,000 NFTs sold out in a day, bringing in a daily record $18 million in sales volume. Before the launch, the creators built hype on Twitter by offering spots for their closed Discord channel, along with ways for people to earn a WL (whitelist) spot if they spread the word on social media by changing their profile picture and sharing key hashtags.

With celebrities joining the crypto PFP trend, it’s no surprise that real-world fashion brands are also scouting opportunities. Some top fashion designers are looking to dress NFTs. 

One example is MIRL, the first decentralized metaverse fashion brand. Currently, more than 4,500 MIRL personas 

, which is the metaverse safe haven for the fashionable characters that are unbound from society. The project appeals to people who don’t see themselves or society the same way many others might. MIRL invites them to create bold versions of themselves with the exclusive fashion brand. 

While people may feel attracted to projects that match the values or characters with which they identify, MIRL gives them the opportunity for even more customization.

Much as businesses strive to create competitive advantages or unique value propositions that their competitors cannot replicate, NFT profile pic crypto projects seek to create unique benefits for members that extend beyond community values or culture. Becoming a community member of an PFP NFT project means access to some benefits beyond exclusive member chats. People often choose communities based on these privileges or benefits. For instance, World of Women holders can attend an annual gala, receiving access to exclusive raffles and enjoy special discounts, and Okay Bears offers its members access to real-world events, along with clothing and other exclusive collectibles.

The Meebits project offers a 3D model utility, which could be a powerful benefit in the future if the metaverse merges with the Meebits as social media and crypto PFPs continue to integrate. With CryptoPunks, there’s not a long list of utilities. However, the social capital gained from owning one of these pioneering characters is a coveted privilege. Think of them as the Rolls-Royce of PFP NFTs. Investors often look at the unique values and ongoing popularity potential of projects when they decide which ones to buy. CryptoPunks has proven that NFT profile pic projects can build and maintain popularity.

Following is a general guide on how to use PFP NFTs.

 Select an NFT marketplace or platform on which PFP NFTs are available for purchase. Popular platforms include Bybit NFT Marketplace, OpenSea, Rarible and Foundation.

 Set up a digital wallet compatible with the platform you've chosen. Common wallets include MetaMask, Trust Wallet and Coinbase Wallet.

: Add cryptocurrency funds (typically ETH) to your wallet to purchase NFTs.

: Explore marketplaces for PFP NFTs that align with your preferences. When you find one you like, follow the purchasing instructions on the platform. The process usually involves placing a bid or directly buying the NFT.

: Connect your digital wallet to social media platforms that support the display of a PFP NFT, such as Twitter or Discord.

: Access your wallet and select the PFP NFT you want to use. Most wallets can set the chosen NFT as your profile picture.

: Depending upon the platform, you may have options to crop, resize or adjust the PFP NFT to fit the platform's profile picture requirements. Once customized, your PFP NFT will be visible on your profile.

: Participate in communities or platforms dedicated to PFP NFT owners. Engage in discussions, share insights and connect with fellow NFT holders, collectors and enthusiasts.

: Some platforms offer verification features to authenticate and verify the ownership of PFP NFTs. Explore these options to enhance credibility and showcase the legitimacy of your PFP NFTs.

: If you decide to trade or sell your PFP NFT, you can list it on compatible marketplaces. Follow the marketplace's instructions for listing and pricing, and for completing transactions.

Remember that the specifics of using PFP NFTs can vary based on the platform and wallet you choose. It's essential to familiarize yourself with the features and guidelines of each platform to make the most of your PFP NFT ownership.

Curious about how PFP NFTs work when it comes to social media? 

Top social media platform leaders are well aware that crypto PFPs are advancing quickly, and that owners want to display them. Because social media platforms must keep up with current trends in order to remain competitive, they’re working on ways to offer the legitimization of NFT profile pics for users who want to display them. Twitter led the innovation plans by offering crypto PFP holders the ability to turn their profile pictures into verified pictures.

Why is this important? Today, it’s easy for people to see a picture they like and save it or simply take a screenshot of it to use on their own. Although there are reverse image search tools online to help NFT owners find people who may be using their valuable virtual property, nobody has the time to continually search for offenders. With a verified profile picture, a crypto PFP owner can prove ownership and stand out from wannabes, imposters or thieves.

In early May 2022, Instagram launched the test of a feature similar to what Twitter offers. It allows digital wallets to let users connect the NFTs they own and want to display. Meta may eventually offer something similar for Facebook. 

Instagram's original plans were to potentially allow users to mint their own NFTs as well. However, that plan received mixed reactions, with many Twitter users pointing out that the NFT culture was born on Twitter and thrived there. Therefore, it seems unlikely that NFT enthusiasts will be thronging to Instagram anytime soon.

NFT profile pic projects have grown immensely. While there have been a few that didn’t deliver on promises, such as 

, many have succeeded in reaching their goals. Some projects, such as Okay Bears, also strongly encourage ongoing brand awareness and brand equity projects from owners. Clever strategies like these help fuel future interest in communities and the utilities offered by NFT profile pics.

While there is some skepticism about crypto PFP projects, it’s important not to underestimate the draw of a strong community, unique utilities, integrations and rarity. Experts point out that NFT profile pics are suffocating the crypto art market. Although there is some truth to that assertion, many digital art NFTs simply don’t have the same attractive benefits that appeal to buyers of crypto PFPs. Investors know that and make decisions based on hype and speculation.

For many, the investments are worth it. Year-over-year, NFT market trading volume grew 38,000% and reached a total of $10.7 billion in 2021. Trends appear to be continuing to pick up steam in 2022. One consistently important detail is the need for originality in utilities for NFT profile pic projects that want to attract larger crowds.

PFP NFTs are growing and evolving every month. The creators of some NFT profile pics are seeing collections sell out within hours. With the recent addition of social media, metaverse and real-world integration, PFP NFTs have proven that they’re capable of much more than people assumed they were a few years ago.

NFT PFPs: The Rise of NFT Profile Pictures on Social Media

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NFT PFPs: The Rise of NFT Profile Pictures on Social Media

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Compete for 2,500 USDT Every Week

Grab Up to 5,000 USDT in Rewards