Reddit NFT avatars selling for a premium on OpenSea

Please fol­low and like us:
Pin Share

Sales of recent­ly launched Red­dit blockchain-based avatars are ris­ing on non­fun­gi­ble token (NFT) mar­ket­place OpenSea, out­per­form­ing the platform’s pro­pri­etary store.

Red­dit, the “front page” of the inter­net, plugged into the bur­geon­ing world of NFTs with the announce­ment of col­lectible avatars in July 2022. The avatars became avail­able to users in August and are already gen­er­at­ing thou­sands of dol­lars in sales for artists.

Red­dit users are able to pur­chase a vari­ety of avatars for their pro­files using Vault, Reddit’s cryp­tocur­ren­cy wal­let, with cred­it and deb­it cards accept­ed to make pay­ments for the blockchain-based NFTs.

Red­dit Avatars are cre­at­ed by a num­ber of inde­pen­dent artists that use the plat­form and are mint­ed on pur­chase on the Poly­gon blockchain. Giv­en that OpenSea fea­tures cross-blockchain sup­port across Ethereum, Poly­gon, Klaytn and Solana blockchains, Red­dit NFTs are now being sold at a pre­mi­um on the pop­u­lar NFT marketplace.

NFTs cur­rent­ly avail­able for pur­chase on the Red­dit Avatar store page range from $5 to $49, while NFTs that were list­ed for $50 or more are now sold out. These more expen­sive avatars are still avail­able on OpenSea, albeit for price ranges sig­nif­i­cant­ly high­er than their orig­i­nal list­ings on Reddit.

Two spe­cif­ic col­lec­tions,The Sens­es x Red­dit Col­lectible Avatars and Foustlings x Red­dit Col­lectible Avatars, are promi­nent Red­dit Avatar com­pi­la­tions that are fea­tured on OpenSea.

Relat­ed: Red­dit part­ners with FTX to enable ETH gas fees for com­mu­ni­ty points

Around 1,300 The Sens­es NFTs are list­ed on the mar­ket­place and have gen­er­at­ed a total of 15 Ether (ETH) on Poly­gon, or $25,000, in sales since Aug. 20. The Mouths #12 is the most expen­sive NFT sold in the col­lec­tion to date, sold for 1.377 Poly­gon-bridged ETH ($333) on Sept. 3.

There are some 1,800 Foustlings NFTs list­ed on OpenSea with sales vol­ume total­ing 9.6 Poly­gon-bridged ETH at the time of writ­ing. Rain­bow Foustling #373 fetched 0.348 Poly­gon-bridged ETH ($577) on Sept. 4 and cur­rent­ly ranks as the most expen­sive NFT sold from the spe­cif­ic collection.

The Nat­sukashii, Celes­tial Assem­bly and Wear­ing Your Emo­tions col­lec­tions are slow­ly see­ing trad­ing action, account­ing for 3.7 ETH, 2.4 ETH and 1.5 ETH in Poly­gon-bridged sales respectively.

Red­dit’s ini­tial NFT announce­ment indi­cat­ed that the launch of avatars would pri­mar­i­ly empow­er artists to cre­ate and sell NFTs through its store and on sec­ondary marketplaces.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *