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Byadmin September 23, 2022September 23, 2022Write a Comment on Users Snapped Up Reddit NFT Avatars For $5,000 Each2 min read
NFT avatars from Reddit have been sold for $ 5,000 (4 ETH) each, signaling a growing demand for this kind of digital asset.
The Senses collection, NFT #16 and #46, which sold for $5,000 each, was the highest-grossing Reddit NFT avatar collection ever. The minimum value of an NFT from the Senses collection created by Reddit user Rojom is 0.93 ETH.
One of the Reddit community members, Imalittlestitious86, enthusiastically reacted to the news about the sale of tokens at this price:
“NFTs just got traded for 4 ETH, how is that possible lol.”
“This is some kind of game,” he added.
The user also wondered if the sales volume of these tokens could rise to six figures.
Imalittlestitious86 noticed that Foustlings’ other collection of NFT avatars was doing quite well and was probably sold for the same amount.
“The market has really skyrocketed this week as classic Foustlings NFTs are selling for $400,” a user said, acknowledging the significance of Reddit ’s NFTs .
“It’s insane to remember that before this [-Reddit] sub was a passionate hater of digital assets,” noted Imalittlestitious86. ” Reddit is changing hearts and minds with these digital doodles.”
A longtime crypto-friendly environment that has been accepting cryptocurrency for in-app purchases since 2013, Reddit has begun offering NFT-style avatars to users.
The social network has collaborated with many independent artists to create more than 90 designs, and the total number of available NFTs from the social network exceeds tens of thousands. Those who buy them are granted licensing rights to the purchased NFTs, allowing them to use the avatar outside the platform.
Reddit offers several types of NFTs, including those created by independent creators and CryptoSnoos, the social network’s proprietary NFT collection featuring its symbol.
Reddit is also known to be giving away NFT avatars as airdrops. While the criteria for receiving free tokens is unknown, many believe that the recipients are Reddit users with higher rankings on the platform.
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