Renga Community Launches #rengaweekender PFP Challenge
Renga community members are rallying on Twitter today, using the hashtag "#rengaweekender" to encourage users to change their Twitter profile pictures (PFPs) to Renga NFTs for the weekend.
This call to action is likely in response to the negative feedback against the Renga project that not enough holders are using the artwork for their PFPs. Common chatter in the NFT community is that those who hold Renga NFTs also hold other primary collections already (i.e. BAYC, Azuki), preventing more organic PFP usage. This is also tied to growing guidance from influencers for users not to change their PFPs as it may hurt their brand.
This negative feedback against Renga is backed by data, as NFT social metrics platform nftinspect.xyz shows that Renga is ranked just 74th in terms of PFP usage for the project on Twitter and boasts just 515 unique PFPs. This number is up 59 percent on the month, from 350 in mid-September, but still far below the major collections.
For reference, the leading projects by PFP usage include:
- Clone X (6,518)
- Moonbirds (6,396)
- BAYC (6,290)
- Azuki (5,410)
- MAYC (5,334)
PFP usage on Twitter is a common metric that NFT holders and traders have used in determining collections to invest in over the past year, as this new PFP NFT sector has exploded.
This #rengaweekender rally may also be driven by the recent fall in floor price, as Renga has seen its floor drop from above 3 ETH to 1.95 ETH at the time of writing and has seemingly lost some major momentum.
Will this trick work for Renga? Time will tell.