Sales of tokens based on the recently launched Reddit blockchain are booming on non-fungible token (NFT) marketplace OpenSea, outpacing the platform’s proprietary repository.
Reddit, the “front page” of the internet, was pinned in July 2022 with an announcement of collectibles in the growing world of NFTs. Avatars became available to users in August and are already generating thousands of dollars in sales for artists.
Reddit users can purchase different avatars for their profiles using Vault, Reddit’s cryptocurrency wallet, with credit and debit cards to make payments for blockchain-based NFTs.
Reddit Avatars are created by a number of independent artists who use the platform and shop on the Polygon blockchain. Given that OpenSea features cross-blockchain support on the Ethereum, Polygon, Klaytn, and Solana blockchains, Reddit NFTs are now being traded at a premium on the popular NFT marketplace.
NFTs currently available for purchase on Reddit’s Avatar Store page range from $5 to $49, with NFTs listed for $50 or more now sold out. These more expensive models are still available on OpenSea, although the price ranges are much higher than their original listings on Reddit.
Two special collections,Sens x Reddit collectible figurines And Foustlings x Reddit collectible avatars, Featured on OpenSea are popular Reddit Avatar collections.
Related: Reddit Partners with FTX to Enable ETH Gas Payments for Community Points
Around 1,300 Senses NFTs are listed on the marketplace and have generated a total of 15 Ether (ETH) per Polygon, or $25,000 per sale since August 20th. Mouth number 12 It sold for 1.377 Polygon-bridged ETH ($333) on September 3, making it the most expensive NFT in the stock to date.
There are about 1,800. Atrocities NFTs listed on OpenSea have a total trading volume of 9.6 Polygon-Bridged ETH at the time of this writing. Rainbow Foustling #373 It earned 0.348 Polygon-bridged ETH ($577) on September 4th and currently ranks as the most expensive NFT traded from a separate set.
of Natsukashii, Celestial assembly And Wear your emotions Clusters are slowly seeing trading action with the Polygon Bridge sale posting 3.7 ETH, 2.4 ETH and 1.5 ETH respectively.
According to Reddit’s first NFT announcement, the launch of avatars will primarily allow artists to create and sell NFTs through the store and secondary marketplaces.