  For a connected smooth proper rigid space $X$ over a perfectoid field
extension of $\mathbb Q_p$, we show that the \'etale Picard functor of $X$
defined on perfectoid test objects is the diamondification of the rigid
analytic Picard functor. In particular, it is represented by a rigid analytic
group variety if and only if the rigid analytic Picard functor is.
  Second, we study the $v$-Picard functor that parametrises line bundles in the
finer $v$-topology on the diamond associated to $X$ and relate this to the
rigid analytic Picard functor by a geometrisation of the multiplicative
Hodge--Tate sequence.
  The motivation is an application to the $p$-adic Simpson correspondence,
namely our results pave the way towards the first instance of a new moduli
theoretic perspective.
