What are the phases involved in generating revenue from PFP NFT?

The process of generating revenue from PFP (Profile Picture) NFT (Non-Fungible Token) typically involves several phases. First, artists or creators design and mint unique PFP NFTs, representing individual profile pictures or avatars. These NFTs are then listed on a marketplace or auction platform where buyers can purchase them. The revenue generation begins when collectors or enthusiasts acquire these NFTs, usually at a set price or through bidding. Once sold, artists receive a portion of the revenue as royalties or commissions. Additionally, as the value of PFP NFTs fluctuates, individuals may sell their acquired NFTs at a higher price, thereby generating profit. This secondary market trading and speculation further contribute to revenue generation. Overall, the phases involved in revenue generation from PFP NFTs encompass creation, listing, primary sales, royalties, and secondary market trading.

This mind map was published on 19 September 2023 and has been viewed 55 times.