On the NFT marketplace OpenSea, sales of newly released Reddit blockchain-based avatars are rising. The NFTs are being sold on the marketplace with more than double their price on the original listing on reddit.
Reddit entered the expanding field of NFTs with the release of its NFT avatars in July 2022. The avatars were made accessible to users in August and have already generated thousands of dollars in sales for artists.
Reddit users may utilize Vault, Reddit’s cryptocurrency wallet, to purchase a choice of avatars for their profiles, with credit and debit cards allowed for purchases for the blockchain-based NFTs.
Reddit Avatars are developed by a variety of freelance artists who utilize the platform and are minted on the Polygon blockchain upon purchase.
Reddit Avatars NFT are available for purchase on the Reddit Avatar store page which has prices from $5-$50
According to Reddit’s first NFT announcement, the introduction of avatars will primarily enable artists to make and sell NFTs through its shop and on other marketplaces.
Editor’s Note: This article by The Mega Maxi is not a financial advise.