Reddit’s limited-edition NFT avatars selling for a premium on OpenSea

Reddit’s limited-edition NFT avatars selling for a premium on OpenSea

Sales of recently published Reddit NFT avatars on the non-fungible token (NFT) marketplace OpenSea is rising faster than those of the platform’s internal store.

When it debuted collectible avatars in July 2022, Reddit, the “first page” of the internet, entered the burgeoning NFT sector. The avatars have aided artists in earning thousands of dollars since they were made available to consumers in August.

Using Vault, Reddit’s bitcoin wallet, users can purchase a number of avatars for their profiles. The blockchain-based NFTs allow payments through credit and debit cards.

Reddit NFT Avatars are made by numerous independent artists who use the platform and are generated by the Polygon blockchain. Because OpenSea provides cross-blockchain support for the Ethereum, Polygon, Klaytn, and Solana blockchains, the cost of Reddit NFTs on the popular NFT marketplace has gone up.

The pricing range for those NFTs on the Reddit Avatar store page is $5 to $49. NFTs that were offered for $50 or more are no longer available. These more costly avatars are still available on OpenSea, even if their price ranges are substantially higher than their initial Reddit ads.

The Senses x Reddit Collectible Avatars and Foustlings x Reddit Collectible Avatars are two separate collections that are promoted on OpenSea.

1,300 or so The Senses NFTs have been sold for a total of 15 Ether (ETH) on Polygon, or $25,000, since August 20. They are advertised on the market. The Senses NFTs, which number around 1,300, have sold 15 ETH (Ethereum) for a total of $20,000 on Polygon since August 20. The Mouths #12 is currently the most costly NFT in the collection after being sold for 1.377 Polygon-bridged ETH, or $333, on September 3.

As of this writing, approximately 1,800 Foustlings NFTs are up for grabs on OpenSea right now, with a 9.6 Polygon-bridged ETH sales volume as of this writing. The most costly NFT from that specific collection to have been sold at auction was Rainbow Foustling #373, which sold on Sunday for 0.348 Polygon-bridged ETH, or $577.

Trading activity is steadily developing for the Natsukashii, Celestial Assembly, and Wearing Your Emotions collections; according to Polygon-bridged sales, each represents 3.7 ETH, 2.4 ETH, and 1.5 ETH.

The introduction of avatars, according to Reddit’s initial announcement of the NFT, will primarily allow artists to create and sell NFTs through its shop and on other markets.

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