Secondary sales of Reddit NFT avatars are picking up pace on OpenSea.
Sales of recently launched Reddit blockchain-based avatars are rising on nonfungible token marketplace OpenSea, outperforming the platform’s proprietary store.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.Foustlings x Reddit Collectible Avatars,
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