Learn how to join Bybit's VIP Program, where you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades up to $10M.

With the Bybit VIP Program, you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades, Bybit Card cashback and more. Joining the ranks of the very best traders on the platform will boost your profitability, raise your limits and offer access to VIP-only perks.

 and guides you through the steps to become a VIP trader and unlock exclusive benefits. Let's get started!

 is an exclusive club for the most esteemed traders in the crypto market. It’s designed to provide members an enhanced Bybit experience with numerous VIP-only benefits and perks. The program aims to reward avid traders who have high volumes, account equity levels and borrowing activities.

The Bybit VIP Program offers a multitude of benefits for members. These range from discounted trading fees and high limits for withdrawals and application programming interface (API) trades to priority Bybit customer support access, relationship managers and exclusive VIP events and meetups. You can find the full list of VIP exclusive benefits 

Requirements to Become a Bybit VIP Trader

You’ll need to fulfill a specific level for one of the criteria below to become a VIP trader on Bybit:

Bybit's VIP Program features six distinct tiers: 

. Each successively higher tier offers greater rewards, and also comes with more stringent qualification requirements. For instance, as a 

 trader, you’ll enjoy reduced trading fees, such as 0.03% for makers and 0.045% for takers in the spot market. To qualify for this exclusive tier, you must meet at least one of the following criteria:

Once you become a VIP trader, you must continuously meet the above criteria to maintain your Bybit VIP status and keep enjoying the benefits. 

However, this doesn't mean your account will immediately lose its VIP status and revert to standard after a single day in which you don’t meet the requirements. Bybit offers a 14-day grace during which you can continue enjoying VIP perks and benefits, even if you no longer meet the program's conditions. If the criteria are not met by the end of this period, your VIP status will automatically be revoked. However, if that occurs, you can regain your status by fulfilling the requirements for any VIP tier either during or after the grace period. When this happens, Bybit will grant you a new 14-day grace period.

How to Sign up to Become a Bybit VIP Trader

In the following section, you'll find a step-by-step guide that shows you how to join the Bybit VIP Program.

The first step to becoming a VIP trader is to open a Bybit account (if you haven't already done so). Simply 

 and fill out the form with your details. After registering, you’ll need to verify your account to enjoy the platform's full functionality.

Next, fund your Bybit account with crypto or fiat currency.

You can deposit cryptocurrencies by using the 

 menu. On the page, choose your desired coin and the blockchain where you'll be depositing the assets. To avoid any loss of funds, please always ensure that you're transferring crypto from the correct chain.

Next, copy-and-paste the wallet address displayed on the page, or scan the QR code with your smartphone's camera, and initiate the deposit from your wallet. After a few confirmations, your cryptocurrencies will be credited to your Bybit account.

To fund your Bybit account with fiat currency, click on the 

 button and select one of the available services (e.g., 

 service, choose a fiat currency, the deposit amount and one of the available payment methods. After clicking on 

, follow the instructions displayed on the next pages to initiate the transaction. Your funds will be credited to your Bybit account, with processing times varying according to your chosen service and payment method.

After you have a verified Bybit account funded with either crypto or fiat, perform eligible activity on the platform until you qualify for VIP status (see table below).

You can achieve VIP status by fulfilling a minimum level of VIP 1 in either of the following categories (

After becoming a VIP trader on Bybit, don't forget to maintain your VIP status to continue enjoying the exclusive perks and benefits.

If you have active VIP status at another crypto exchange, or your total MT5 trading volume meets Bybit's VIP criteria, you can apply for a VIP+2 upgrade. This upgrade will grant you VIP status on the platform — and instantly elevate it by two levels. (Please 

 that Bybit only considers 10% of any MT5 forex trading volume.)

 and submit your 30-day trading volume on your current exchange. Bybit’s VIP team will review your application, and a Relationship Manager will contact you if you're eligible for the VIP upgrade.

How to Get Started With a 20-Day Bybit VIP Trial

Another way to qualify for VIP status on Bybit is through a 20-day trial. Instead of fulfilling the requirements of the VIP 1 level, simply fund your account with $50,000 to enjoy the exclusive benefits of the program for 20 days with a VIP Trial Card (issued one day after your deposit). The VIP trial offer is available to users who haven't used a trial within the past two months.

To unlock the 20-day VIP trial, head to the 

 menu on Bybit and use one of the available payment methods to fund your account with $50,000 in assets.

With VIP Level-Up Tasks, you can earn generous bonuses as high as 6,000 USDT. You can claim rewards for Level-Up Tasks for five VIP levels (VIP 1, VIP 2, VIP 3, VIP 4 and VIP 5), with higher tiers offering greater bonuses upon completion.

If you're eligible, you’ll see a pop-up window with VIP Level-Up Tasks after you log into your account. To claim your rewards, complete the specified trading volume requirement within 14 days of receiving the task, and click on the 

 page. You can learn more about Bybit VIP Level-Up Tasks

Exclusive Trading Benefits Offered to Bybit VIPs

As a member of the Bybit VIP Program, you can unlock exclusive benefits to supercharge your trading experience. Among these are discounted trading fees (which can significantly boost your trading revenue), profitability and chances of winning trades.

In addition to discounted trading fees, you’ll also enjoy substantially higher API trading and withdrawal limits. While the former is restricted to 10 trades per second for non-VIP users, you can take advantage of up to 120 API trades per second as a VIP trader. Simultaneously, your daily withdrawal limit is increased from the basic 1 million USDT to as high as 12 million USDT.

 is an exclusive club that provides an enhanced service experience for the most esteemed traders. As a member, you can access a multitude of exclusive benefits and perks, such as the following:

Are you ready to supercharge your trading experience? 

Intermediate

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How to Become a Bybit VIP: Your Guide to Exclusive Benefits

LETSTOP is a drive-to-earn mobile app that monitors phone distractions while driving. Learn more about how it works in this article.

Smartphone distractions have created an unprecedented road safety crisis worldwide. 

: texting behind the wheel makes drivers six times more likely to crash than drunk driving does — yet millions of drivers still use their phones while operating vehicles.

This article explores how LETSTOP is transforming safe driving into rewarding experiences through blockchain technology. We'll examine its drive-to-earn model, reward system, tokenomics and potential as both a road safety solution and an investment opportunity.

 is a drive-to-earn mobile app that monitors phone distractions while driving. Users earn STOP tokens for phone-free driving through a gamified system that transforms daily drives into rewarding experiences.

A life-changing car accident caused by a distracted driver running a red light inspired LETSTOP co-founder Almog Nissan to reimagine road safety. Together with co-founder and CEO Dor Levy, they envisioned rewarding safe driving, rather than just punishing dangerous behavior.

The founders built a platform that combines automotive technology, cryptocurrency and AI to revolutionize road safety through rewards. This innovative approach has quickly gained traction, with over 50,000 users logging over 3 million kilometers of safe driving since the app’s launch.

Distracted driving claims thousands of lives annually, with 

, of which 9% are directly linked to phone use. LETSTOP aims to tackle this crisis as follows:

Each of these objectives works harmoniously to support LETSTOP's ultimate mission of transforming road safety into a rewarding experience that benefits both individual drivers and society.

The LETSTOP app operates through a sophisticated system that monitors and rewards safe driving through the following apps and features:

The result is a dynamic system in which better driving habits unlock greater earning potential.

The following five core features power LETSTOP's drive-to-earn ecosystem.

LETSTOP uses a dynamic 40-level system to make safe driving rewarding. As drivers earn XP through distraction-free journeys, they advance from Level 1's 2% bonus toward Level 40's 70% boost. Through this gamified approach, daily commutes become opportunities to climb the ranks while building safer driving habits.

LETSTOP Credits are the core currency of the platform, earned directly through safe driving achievements. Earning rates directly scale with user level, vehicle type and subscription tier as follows: PRO subscribers enjoy unlimited earning potential, while PLUS and LITE tiers are capped at 300 and 150 monthly credits, respectively.

In the STOP Store, users invest their earned credits into virtual cars with unique earning multipliers. From the basic model's 2% bonus to the Jazzster GN's 150% boost, each vehicle offers different strategic advantages for maximizing rewards.

Beyond vehicles, the store features mystery boxes containing rewards from 10 to 450 credits, as well as car upgrades and subscription boosts. Users can also access a voucher marketplace to redeem credits for real-world rewards through LETSTOP's partnership network.

LETSTOP's triple-boost system combines vehicle multipliers for immediate earnings acceleration, a level-progression system for sustained growth and a 5% referral program for community expansion. Premium membership unlocks enhanced benefits across three tiers, while special events create time-limited opportunities for increased rewards.

The platform's comprehensive rewards system operates across three membership tiers, each one tailored to different user needs. LETSTOP PRO (at $9.90 monthly) offers unlimited credit earning potential and exclusive benefits. The PLUS tier provides a balanced option at $4.90 monthly with a 300-credit earning cap, while the free LITE tier allows users to earn up to 150 monthly credits.

Beyond direct earnings, the rewards system incorporates partner vouchers, cryptocurrency conversion options and community features, such as leaderboards. Achievement rewards recognize milestones in users' safe driving journeys, while the upcoming cryptocurrency integration will allow users to convert their efforts into tradeable STOP tokens.

LETSTOP has shown consistent progress, with the following key milestones already achieved:

Looking ahead to 2025, LETSTOP plans to implement the following key developments:

These developments aim to strengthen LETSTOP's position as a leader in drive-to-earn while furthering its mission to enable safer roads worldwide.

STOP is an SPL token built on the Solana network. It’s designed to bridge safe driving behavior with cryptocurrency rewards. The STOP token implements an annual halving mechanism to ensure long-term value preservation, similar to Bitcoin's model, but accelerated to align with the project's growth trajectory.

STOP has a max supply of 100 million tokens, to be distributed in the following manner:

The growing adoption of LETSTOP's drive-to-earn app and its impact on road safety directly influence STOP's price trajectory. While cryptocurrency forecasts remain speculative by nature, multiple price analysis platforms project the following for STOP:

These forecasts suggest a positive long-term outlook for STOP, driven by the growing drive-to-earn sector and LETSTOP's innovative approach to road safety. However, STOP's future value will ultimately depend upon user adoption, platform development and broader market conditions.

Looking to trade LETSTOP tokens? Bybit now offers the STOP/USDT Spot trading pair. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

STOP shows promising potential in the drive-to-earn sector, though investors should carefully weigh both its strengths and potential risks before making investment decisions.

While STOP's innovative approach to road safety and its strong initial traction distinguish it in the market, potential investors should 

 and invest no more than they can afford to lose.

As smartphone distractions continue to endanger lives on roads worldwide, LETSTOP offers an innovative path forward. Through its innovative drive-to-earn model and STOP token ecosystem, the platform transforms daily commutes into safer roads and user earnings opportunities, showing how digital innovation can effectively “drive” positive behavioral change.

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LETSTOP (STOP): Turning Daily Rides Into Profitable Journeys

FDUSD, a stablecoin from First Digital Labs, is now live on Sui as a native token, joining other stablecoins like USDC and AUSD.

The S&P 500 ended flat amid mixed earnings and geopolitical concerns, as investors awaited Thursday's data and Fed commentary. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 2.01%, with Bitcoin rising by 1.91% and Ether dropping by 0.59%, in the past 24 hours.

Today's top performer is LUMIA, which surged 16.1% following the announcement of its partnership with Cobox to bridge real-world assets and virtual ownership.

Lumia (LUMIA), founded in 2024, is a Layer 2 blockchain solution leveraging the Polygon CDK to enhance scalability, liquidity, and interoperability. It addresses challenges like data availability and cross-chain interactions by incorporating AvailDA for decentralized data and Polygon AggLayer for cross-chain functionality, enabling efficient and flexible dApp development. 

 to integrate real-world assets (RWAs) into its immersive, player-owned universe. This collaboration aims to enhance asset liquidity, trading, and gameplay experiences, bridging digital and physical realms for more tangible and vibrant virtual ownership.

Check Out the Latest Prices, Charts, and Data of 

, a stablecoin from First Digital Labs, is now live on Sui as a native token, joining other stablecoins like USDC and AUSD. This launch reflects growing institutional confidence in Sui, which has seen significant growth in TVL and DeFi volume. FDUSD, backed by reserves in Asian banks and US Treasury debt, offers DeFi users a reliable, US Dollar-pegged stablecoin, bridging traditional finance and cryptocurrency ecosystems.

Yesterday, the total flow into Bitcoin Spot ETFs is $146.9 million, with $0 million in GBTC and $146.9 million in non-GBTC products.

: the Spotlight Badge, which requires minting through the Spotlight Protocol and joining a Spotlight circle; the Impossible Finance Badge, which involves completing social tasks, claiming the TIDIA faucet, staking TIDIA on Impossible Finance, and then claiming the badge; and the SNGLR Badge, where users connect their wallet, follow artists, mint IP assets, tweet, and provide personal details to claim their badge. More badges are coming soon!

Beginner

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FDUSD Launches as Native Stablecoin on Sui, Strengthening DeFi Ecosystem

Morpho (MORPHO) is an efficient Ethereum-based protocol revolutionizing decentralized lending with customizable peer-to-peer and pool-based solutions.

Liquidity pools have revolutionized decentralized lending and borrowing by offering a wide choice of product options and significant liquidity levels. For several years, protocols like 

 (COMP) have been lauded as true innovators that introduced a real game-changer: pool-based lending and borrowing. However, a closer look reveals that things aren’t as efficient and smooth as they may seem within the world of crypto lending. The problem is that lending pools on decentralized protocols often have mismatches between lenders and borrowers, with the former substantially outnumbering the latter. As a result, lenders earn only meager 

s, while borrowers pay exorbitant fees to access funds via these pools. Another critical problem is the lack of customizability in lending and borrowing products, with many protocols adopting a one-size-fits-all approach.

Morpho (MORPHO) is a decentralized protocol on 

 (ETH) that aims to improve the efficiency and flexibility of crypto lending and borrowing by offering a unique model that combines the elements of 

 (P2P) and pool-based matching of lenders and borrowers. To be precise, one of Morpho's essential products, Morpho Optimizers, specifically focuses on P2P matching, with pool-based lending and borrowing used as a fallback option. Morpho also offers users an excellent level of customization for creating new lending markets through its core protocol.

With its innovative lender-borrower matching mechanism and highly customizable and flexible markets, Morpho greatly improves capital allocation and transaction efficiency in the 

 (MORPHO) is an Ethereum-based decentralized lending protocol that offers a unique P2P order matching mechanism to improve the efficiency and affordability of 

 The platform also enables users to create efficient lending markets with highly customizable lending and borrowing parameters. Additionally, it offers a product, Morpho Vaults, for curated lending at varying risk levels.

, a France-based software development company founded in 2021 by Merlin Egalité and Paul Frambot. It's also supported by the nonprofit 

As its first major product, the project launched Morpho Optimizers on the Ethereum blockchain in 2022. Morpho Optimizers is designed as an add-on solution for lending pools on Aave and Compound to help match individual lenders and borrowers. The transacting parties can benefit from a more efficient lending process than with the default pool-based mode.

In January 2024, the project launched Morpho Blue, later rebranded to Morpho, a solution to help users create highly flexible lending markets with custom parameters and options. Morpho acts as the backbone of the Morpho ecosystem, and the project team has turned its focus to promoting and further developing this product. At the same time, Morpho Optimizers remains an integral part of the platform's core offering, albeit in a less prioritized state than Morpho.

The Morpho protocol consists of three main products — Morpho, Morpho Vaults (based on the underlying protocol) and the legacy Morpho Optimizers. Morpho allows users to create individual lending markets by specifying their preferred options for the following key attributes:

All these parameters are highly customizable, with minimal interference from the Morpho governance mechanism. Some parameters do have to conform to certain requirements; e.g., the IRM and LLTV must be from the list approved by the protocol's governance.

Morpho's high level of customizability is a significant departure from the typical model used on decentralized lending and borrowing platforms. On most other protocols, there are fixed parameters governing the lending and borrowing process; e.g., only certain collateral assets, lending assets or LLTV rates are allowed. In contrast, Morpho lets you customize all of these options, giving lending market creators an unmatched degree of freedom. The protocol offers the following key benefits to users, developers and market operators:

While Morpho is currently the platform's flagship product, the legacy Morpho Optimizers continues as a key offering in the platform's product line. Morpho Optimizers are add-on layers to the Aave and Compound lending pools. They can be used to facilitate a peer-to-peer match between lenders and borrowers. Since typical lending pools — including on platforms like Aave and Compound — are often heavily skewed with more lenders than borrowers, both parties end up paying excessive fees. Borrowers have to confront high costs due to the need to service the many lenders in the pool. In turn, lenders fight for the meager scraps left over from insufficient numbers of borrowers.

By using a P2P matching mechanism, Morpho Optimizers effectively takes the lender and borrower away from pool-based interaction and establishes a direct relationship between them. This allows users to borrow assets at cheaper rates, while also delivering better APYs for lenders. If either party withdraws from the direct lending relationship, both parties have the option to use the standard lending pools on Aave and Compound as a fallback.

The platform's third core product, Morpho Vaults (covered in more detail below) utilizes the underlying protocol and provides a way to lend through carefully curated market options at different risk profiles. This can suit lenders who are less proficient in using fully customized markets, but still prefer to take advantage of the lending opportunities offered by Morpho.

In order to create a custom lending market on Morpho, you need to have some technical proficiency and, preferably, knowledge of Solidity, the programming language that the protocol uses for its smart contracts. As noted earlier, developers can create a custom market by supplying five base parameters — a collateral asset, an asset offered for lending, an oracle, a preferred IRM and an LLTV. The first four of these normally require an Ethereum smart contract address to be specified. For the collateral and lending assets, these are the addresses for the tokens' contracts. The selected oracle is also usually established via a pointer to its smart contract address, although oracle-less hard-coded prices for the collateral and lent assets are acceptable. Morpho also maintains Ethereum addresses for each IRM whitelisted by the protocol's governance; developers can use these when choosing a preferred IRM.

The last value, LLTV, is a hard-coded figure that defines the threshold beyond which a loan becomes unhealthy due to its poor 

. Liquidators on Morpho are protocol actors who are incentivized to cover bad debts in return for collateral, similar to the method used on many other lending platforms. They’re allowed to liquidate up to 100% of the debt. In return, liquidators receive the debt's collateral, as well as an additional incentive for their work.

Since Morpho is an oracle-agnostic protocol without a built-in oracle, each market can have its own oracle that sources prices for the collateral and lending assets from external sources. Developers are completely free in that regard, and can even hard-code asset prices for the market if they don't wish to use a price oracle at all. Naturally, an oracle is preferred for maintaining the most up-to-date and dynamic pricing information.

The IRM used is the only base parameter with which developers are somewhat restricted in their choice, as only whitelisted IRMs are allowed for a market. As of mid-November 2024, there’s just one whitelisted IRM that market creators can specify — the 

. This model dynamically adjusts interest rates to maintain the proportion of borrowed funds to supplied funds at close to 90%.

Morpho Vaults are a tokenized vault product that offers curated lending opportunities with varying pre-programmed risk parameters. Each vault is associated with a single loan asset, and can allocate deposits across multiple Morpho markets, thereby leveraging the overall liquidity available on the Morpho protocol. Morpho Vaults suit lenders who prefer predictable risk management over the uncertainty of completely custom markets. Each lender can earn APY rates commensurate with their chosen 

There is no limit on the number of vaults you can open on Morpho. Thus, you might even allocate funds to different vaults with significantly different risk levels to diversify your exposure.

Morpho Vaults' curated nature eliminates the need for users to spend time researching and evaluating individual markets' risk levels and return opportunities, as risk exposure is actively managed by the vault.

Since the vaults are connected to the underlying protocol, and source liquidity from it, they’re dynamically rebalanced, which helps optimize yields. Thanks to their permissionless and immutable nature, the vaults are also completely transparent. Moreover, they’re noncustodial, granting users full control over their deposited assets, which can be withdrawn at any time.

A lender deposits an asset into a Morpho Vault and receives shares of the vault as confirmation of their investment. The vaults themselves are tokenized products utilizing Ethereum's 

 standard, designed to represent tokenized vaults for yield-bearing assets. Each vault may be owned by a 

 (DAO), an individual DeFi expert or some algorithm maintained by a DeFi platform. A vault can be owned by only one entity. The owner may specify additional roles/entities for managing the vault. These roles can include one curator, one guardian and multiple allocators.

The curator is a party who sets certain limits, rules and boundaries for the vault, such as specifying asset supply limitations and enabling/disabling specific markets. Curators are instrumental in maintaining appropriate risk levels for their vaults. Assets that lenders lock in a vault are supplied to the protocol's underlying markets, based on curators' whitelists. There can only be one curator for each vault.

The role of guardian is a key vault position. A guardian protects the integrity and security of the vault. Guardians can revoke any action by the vault owner (or other entities) if they consider it to be against the interests of vault lenders. Each vault can only have one guardian, typically a DAO consisting of vault depositors.

Allocators are protocol actors whose job is to rebalance the liquidity utilized by Morpho Vaults to optimize interest rates and accessible liquidity. An allocator’s job is to rebalance and optimize the total liquidity, either manually or using bots, to best meet the needs of Morpho borrowers.

Morpho Vaults' operations aren't regulated by the protocol's governance mechanism. Each vault owner is responsible for their vault's governance model. Specific roles, such as the curator and the guardian, are designed to help in establishing transparent and secure governance procedures for a vault.

What Is the Morpho Crypto Token (MORPHO)?

The platform's native cryptocurrency, MORPHO, is envisioned as a 

. Holders of MORPHO have the right to participate in decision-making on the platform's future direction, general rules, deployment of smart contracts and allocation of funds from the treasury. Although Morpho promotes lending and borrowing markets that operate with minimal interference from the protocol's governance community, there are some general guidelines and rules through which the community needs to establish certain standards, minimum requirements or whitelists. MORPHO token holders are instrumental in this process.

The original MORHPO token was launched on Ethereum in June 2022 with a supply cap of 1 billion. However, there were limitations to the original token contract that negatively affected its functionality. Specifically, the token wasn't designed to facilitate efficient on-chain voting. As a result of these limitations, the project decided to relaunch the token, now on an upgraded contract. The new reincarnation of MORPHO will offer better functional capabilities, including more efficient on-chain governance processes. 

As of the time of writing on Nov 17, 2024, the project team has yet to deploy the new token. The new MORPHO will also be a supply-capped crypto, with a maximum and total supply of 1 billion. The token's supply distribution shares are shown in the chart below.

 token before its market launch. Bybit Pre-Market Trading is an over-the-counter (OTC) trading platform that provides access to promising new cryptocurrencies before their listings on the Spot market. The key advantage of the platform is the ability to access cryptocurrencies at desirable rates before the broader crypto market affects their prices.

Bybit's carefully designed curation process ensures that only crypto assets with solid potential and fundamentals are whitelisted for Pre-Market Trading. This saves you the time required to investigate each cryptocurrency, and reduces the risk of investing in scam projects. Naturally, you’re also encouraged to 

 on crypto assets you might consider purchasing through Bybit Pre-Market Trading.

Morpho represents a unique and potentially highly effective approach to DeFi lending and borrowing. The platform's facilitation of isolated and highly customizable lending markets gives DeFi users unmatched freedom in terms of choice and variety. In addition, users who prefer the stability of curated and well-defined risk profiles can take advantage of Morpho Vaults for more predictable yields. The use of the overall underlying protocol liquidity along with entities such as allocators makes Morpho Vaults particularly effective at optimizing lending and borrowing costs.

While custom lending markets launched via the protocol are now Morpho's key focus, the legacy Morpho Optimizers also continue to offer value. P2P matching of lenders and borrowers as an add-on to the standard pool-based mechanism is a functionality many DeFi users will find helpful. Morpho Optimizers can offer lenders and borrowers active on Aave and Compound an alternative and highly effective way of conducting their operations.

With this arsenal of innovative and unique products, the Morpho protocol is quickly shaping up as a leading platform in the lending niche of the DeFi industry.

Advanced

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Morpho (MORPHO): Leading Efficient, Permissionless Crypto Lending

Bybit Learn

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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