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Scott Kominers
@skominers
Like, recast, and drop your favorite pfp(s) in the comments for a chance to win a copy of ππ‘π ππ―ππ«π²ππ‘π’π§π ππ¨π€ππ§ π! Then read on to learn why @nftbark's and my NFT business framework helps explain the success of the pfp model. ππ
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Scott Kominers
@skominers
NFT-based brand building starts with πΌππ»π²πΏππ΅πΆπ½ of digital assets as a way to give people a stake in the brand, and supplements that ownership with πππΆπΉπΆππ as a way of reinforcing the sense of value people get from affiliating with the brand through the asset.
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Scott Kominers
@skominers
A big part of the payoff of that, from the business's perspective, is that it drives holders to integrate the brand into their personal πΆπ±π²π»ππΆππ, especially as manifested in digital space.
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Scott Kominers
@skominers
In the best-case scenario, individual identity extends into π°πΌπΊπΊππ»πΆππ identification β people who own a given NFT come to think of themselves as similar to and connected with other holders of that NFT, and potentially even work with them to drive the brand forward.
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Scott Kominers
@skominers
Fashion is a core part of the way people express their identities. And pfps are a form of virtual fashion particularly optimized to speedrun the identity- and community-formation steps.
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Scott Kominers
@skominers
They give the owner a way to imagine themselves as a character reflecting their own personal aesthetics and aspirations (hacker extraordinaire? chill panda? @farcats?).
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Scott Kominers
@skominers
Moreover, because pfp images themselves are optimized for use as social media profile pictures, they make it easy to identify other people with similar affinities.
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Scott Kominers
@skominers
(If you're the type of person who self-identifies with the the @farcats aesthetic, how could you not want to be friends with other people who are drawn to the same β and join in the /farcats conversation?)
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Scott Kominers
@skominers
And when it comes to outsiders considering joining in NFT community for the first time, the pfp provides a simple proxy that people can use to intuit which communities are likely to share their interests.
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