Inspect.xyz, an AI-powered L2 for X, has successfully concluded Season 1 of Inspect Rewards, a groundbreaking event in the NFT community aimed at rewarding contributors in the space. The numbers speak for themselves: S1 has seen a 300% increase in the number of AVAX profiles on the platform over the five weeks.
If you have not heard about the Inspect reward system and missed the chance to participate in Season 1, now is the perfect time to learn about the project and prepare for Season 2, even if you do not own a single NFT yet. The Inspect Rewards campaign presents a fantastic opportunity to be incentivized simply for having a PFP on the chain selected by the Inspect team for the upcoming promotional season and engaging with the NFT community. Read this article for more details.
NFT PFP meaning
To grasp how Inspect enables rewards for an NFT PFP, let's begin with understanding the meaning of NFT PFP.
The term PFP stands for profile picture, which serves as an avatar or a graphical representation of a user on various online platforms, particularly social media services. For instance, you may have a PFP for Instagram, a Twitter PFP, a Discord PFP, a TikTok PFP, and so forth.
What type of avatar PFP can you use?
In reality, any matching PFP that features graphics you believe represent your identity can be used. Whether it is a funny PFP, a cool PFP, a cute PFP, a sad PFP, or an aesthetic PFP, the choice is yours. A meme PFP, an anime PFP, game-inspired avatars like Fortnite PFP, and even matching PFPs for couples and friends are just a few of the countless possibilities available.
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What does PFP mean in the NFT context?
Now that you understand the general meaning of PFP, let's delve into PFP NFTs.
Since the definition of PFP is a profile picture used on a social media platform, a PFP NFT is specifically a non-fungible token representing ownership of a unique digital image intended for use as a profile picture. Using a PFP NFT contributes to building a unique digital identity, supported by exclusive ownership of a particular digital asset.
Bored Ape Yacht Club BAYC and other popular PFP NFT projects
Bored Ape Yacht Club (BAYC) NFTs from Yuga Labs stand out as one of the most beloved PFP NFT collections ever seen by social media users. These NFT profile pictures, featuring ape portraits, became some of the most sought-after and expensive PFP NFTs on social media platforms, while the NFT project has built an exclusive community of the NFT PFPs owners.
Yuga Labs, a leading player on the PFP NFT market, has also acquired several other highly popular PFP NFT collections crafted by the Larva Labs NFT PFP project, the creative duo behind Matt Hall and John Watkinson. Among these acquisitions are the renowned CryptoPunk NFT collection and Meebits, both now part of Yuga Labs' portfolio.
While these PFP projects enjoy widespread recognition not only among NFT collectors and enthusiasts but also among those with a passing interest in PFP NFTs, there are numerous other profile picture NFT projects that have garnered significant popularity among social media users who favor NFT profile pictures. Azuki, particularly recommended for anime PFP NFT collectors, alongside Moonbirds, Doodles, CloneX, and CyberKongz, is among the collections featuring some of the most coveted NFT profile pictures.
Using PFP NFTs as a Twitter PFP
X (formerly Twitter) has taken the NFT PFP culture further and expanded the NFT industry by introducing a feature for verifying ownership of NFTs used as profile pictures. If the platform detects ownership of an NFT used as a Twitter PFP by the person using it, it adds a special hexagonal border around their profile to signify authenticity.
In addition to asserting one's rights to the digital artwork and expressing one's individuality and digital identity in a unique way, many X users find PFP NFTs as a way to escape social biases and norms and enjoy a space where their identity is not limited by age, gender, or ethnicity. Furthermore, due to the unique reward system from Inspect, changing your Twitter PFP to an NFT can also bring you rewards.
What is Inspect Rewards?
Let's start with discussing Inspect itself.
"Gain a competitive edge in the ever-evolving world of crypto and NFTs with our advanced and customized multi-platform analytics terminal," says Inspect’s website, promising its users "a seamless integration of data from all your favorite platforms." Among its data-driven analytical capacities, one feature that stands out is the ability to explore real-time social data from the NFT community, aiming to help investors, traders, and collectors "uncover hidden gems in the world of crypto art and collectibles."
Inspect, available as both a web application and a browser extension, enables users to dive into Web3 communities and explore NFT trends without leaving X, helping them stay informed.
Inspect uses various metrics to assist its users in exploring Web3 communities. One of these is the unique PFP count, useful for estimating the trendiest NFT communities and collections. In addition to these metrics, Inspect collects data about NFT floor prices, community reach, and Twitter profile global reach. The latter is a core metric used to estimate the contribution of particular Twitter profiles to the NFT community.
Global reach and NFT market
"Global Reach represents how popular a Twitter profile is relative to other profiles using an NFT as their PFP, determined by what Inspect users view most," Inspect explains its metric, which is based on a seven-day period. In other words, "This is a proxy for how popular an account is on NFT Twitter over the last 7 days."
This particular metric has become the foundation for Inspect's new feature known as Inspect Rewards, aiming to usher in a new era of NFT participation where a broader community can get recognized and incentivized.
Before the introduction of Inspect Rewards, the focus had been on NFT whales who were primarily among those most likely to benefit from holding digital collectibles. However, the Inspect team believes that many talented and active contributors continuously building the NFT ecosystem are not necessarily large NFT investors or regular traders. Many of them are content creators, passionate about discussing NFTs and sharing their experiences with the community, which is essential to support its expansion and helps the industry of digital collectibles thrive.
Inspect Rewards Season 1 for Avax Twitter PFP holders
On March 8, Inspect began delivering NFT keys to participants of its first edition of the Reward campaign, organized in collaboration with Avalanche and Looty. Based on the global reach metrics described above, NFT enthusiasts received tradeable and redeemable keys in one of three categories: Silver, Gold, and Platinum, which are required for opening loot boxes with rewards.
Gamification and rewards with Looty
To enhance the gamification experience, Looty associated each type of key with a different probability of receiving rewards from different tiers, which can include NFTs, AVAX, and other prizes. While Silver keys have the smallest odds of bringing their owners the highest-tier rewards, there is still a possibility of earning more with these keys. The odds can further increase if an owner does not open the crate immediately after its delivery. As the redemption time will be limited, and the supply of rewards will change based on the remaining prizes, the key rarity can also alter.
According to an update from Looty, the top ten profiles on the Global Reach ranking received Platinum keys, whereas the top forty profiles from the eleventh position onwards were rewarded with Gold keys. Meanwhile, the remaining top one hundred profiles had to mint through the Looty website for a random chance to receive keys from all three tiers.
Season 1 - AVAX PFP NFT projects
As mentioned earlier, Season 1 was dedicated to the AVAX NFT ecosystem. Therefore, only X users with an AVAX NFT as a Twitter PFP were eligible to participate in the campaign. The good news is that an AVAX Twitter PFP was the only requirement for eligibility to take part in Inspect Rewards. However, participants also needed to connect their wallets to their Inspect accounts to make it technically possible.
While a strong presence in the NFT community increased participants' chances of earning high-tier rewards, it was still possible for members who had never owned an AVAX Twitter PFP before or had not been exposed to the NFT community at all to achieve a higher ranking.
As previously explained, the global reach metric assesses the popularity of Twitter accounts in the NFT space, thus engaging more with the NFT community was required to boost the ranking. The key to success was consistency throughout the season rather than causing short-term spikes in popularity followed by periods of zero engagement.
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How to earn rewards for your NFT Twitter PFP with Inspect Rewards?
As you can see, there are ways to earn rewards for having an NFT Twitter PFP even if you are not a massive collector or active trader. Content creation and community engagement are highly valued by reward systems like Inspect Rewards, and you can benefit from them. Although the first season of Inspect Rewards has already concluded, its team is open to repeating the event, especially considering the success of the AVAX PFP campaign.
Likely, most of the rules used in Season 1 will also apply to Season 2. However, there may be certain changes. What is known for sure is that the Inspect team will be partnering with another blockchain, as their initial plan is to dedicate their reward campaigns to different NFT ecosystems.
Undoubtedly, the opportunities to rank higher will depend on the chosen ecosystem. In its February X space, Inspect mentioned relatively low competition in the AVAX NFT community. Back then, a global reach of 2% was reportedly sufficient to reach the top one hundred Twitter profiles for the AVAX NFT ecosystem. At the time of writing, the Inspect Global Reach ranking showed that a global reach estimated at 4.2% across all chains tracked by the platform was the threshold to enter the top 100.
For convenience, Inspect has included a green badge next to the profiles eligible for Rewards Season 1. As of the current publication time, most eligible Twitter profiles have a global reach below 1% and are ranked between positions 2000 and 3500. Meanwhile, Toly Us, the most active X account in the AVAX ecosystem according to Inspect, had a global reach of 10.9% at the time of the press.
Naturally, you will need to set your Twitter PFP to an NFT minted on the chain covered by the next Rewards campaign. This process can be easily completed through the X app on both Android and iOS devices.
How to set PFP NFT as profile pictures - Twitter short guide
Using an NFT as a Twitter PFP is straightforward, but it is important to be cautious when connecting your wallet to avoid phishing attacks.
All you have to do is go to X and tap "Edit Profile." You will then be prompted to select a profile picture, and X will suggest choosing an NFT as one of the options. Next, you will need to connect your wallet and complete the signing request. Take your time while completing this stage and ensure you check the domain carefully. Once the wallet is connected, you will be able to select the NFT you want to use as your PFP, and after confirmation, it will appear on your profile.
How to rank higher and track your progress with Inspect?
One of the simplest ways to expand the exposure of your Twitter profile to the NFT community is to start by promoting your NFT PFP. Tweets about the NFT itself, such as the backstory of the artwork or the entire collection as well as your purchase experience, can help engage with the NFT space. Remember to use relevant hashtags and increase the visibility of your profile by mentioning the NFT artist or project behind your Twitter PFP.
If you are willing to prepare for Season 2, familiarize yourself with the Global Reach metrics provided by Inspect.xyz. Set the ranking type to Twitter profiles and sort the leaderboard by chain. This will display a list of all profiles tracked by Inspect, along with related information such as the number of followers, the average number of tweets posted per day, as well as the influence rank, and the global reach metrics. While the latter has already been discussed, it is also useful to understand the Influence Rank metrics.
Influence Rank
"Influence Rank is inspired by Google's famous PageRank algorithm" to indicate profiles "followed by accounts with significant reach and audience," explains Inspect, emphasizing that "This process intuitively tries to understand who 'influences the influencers,' not by ranking by number of followers."
For instance, according to the most recent data from Inspect available at the time of publication, Benas BlockGames had the greatest global reach of 16.6% across all tracked chains, while the profile’s influence rank was estimated at 12,550.
For higher transparency, Inspect also displays changes in global reach on its leaderboard. For example, in the case of the AVAX Twitter leader, Toly Us, Inspect reported a 4% decrease in global reach, despite the profile moving up one position.
Inspect profile
For more detailed information, click on "inspect profile." This will redirect you to a page with statistics, including four graphs: Global Reach Rank, Global Reach, Followers, and Follower Rank. You can customize the period for all of them, setting it for seven days, twenty-eight days, or the entire period of the Twitter profile's existence.
On the same page, you will also find Follow Data, which focuses on Twitter profiles following the inspected profile as well as the profiles followed by this person. Primarily, Inspect detects the activity of followers and followed profiles across different chains and NFT collections.
Moreover, with Inspect, you can check all profiles that are using the PFP visible as the profile picture of the inspected profile.
To highlight certain achievements of the profiles it ranks on the leaderboard, Inspect uses special badges. One of them is the Loyalty Badge, which is given to profiles regarded as "loyal" to their current NFT collection. NFT whales can earn a Whale Badge if they own at least ten NFTs from the same collection. Meanwhile, ecosystem builders receive special Builder Badges.
Although the next chain to participate in the Inspect Rewards campaign was not revealed at the time of publication, you can already contribute to your favorite NFT community with your content and start climbing the Global Reach leaderboard.
How else can you earn rewards for an NFT Twitter PFP?
There is no one unified strategy that will guarantee bonuses for setting an NFT as a Twitter PFP, as much depends on particular projects. For instance, some creators and NFT projects are eager to incentivize collectors to use their NFTs as profile pictures on social media. The same is true for NFT platforms and marketplaces that sometimes arrange special offers for NFT owners willing to use specific digital artworks as Twitter PFPs.
NFT communities also love special events and contests which may incentivize your NFT Twitter PFP. Make sure to keep track of developments in the ecosystem, and monitor the updates from your favorite PFP projects, as this may provide more opportunities to convert your PFP NFT into profit.
