The “front page of the internet” makes good on its new “dive into anything “ slogan
New NFT tokens have come to light from Reddit. The social network has seen some of its NFTs sell for about 4 ETH ($5000) showing a rise in the demand for the digital assets and possibly more acceptance of the technology as a whole.
The collection is called “Senses”, focusing on the five senses of the body,sense and so far has been very lucrative among the Reddit Collectible Avatar NFT pool. The floor of the project is now 2.75 ETH with the most recent highest sales being of Hands #16 and Hands #46 each being sold for 4 ETH each.
The Senses collection has proven to be the most lucrative yet with creator Reddit user Rojom still in shock at how amazing things are going. Rojom started his collection as part of the Reddit Avatars Creator program.
Many are amazed at how well the platform is doing when it comes to building NFTs on the platform. Currently if you go on your reddit app you can click on your profile to create an avatar. You are then taken to a marketplace where you are able to purchase different versions of the cute reddit avatar, each is different and each is an NFT.
There are many new collections on the marketplace each with its own aesthetic , surely there is something for every redditor. Another collection titled Foustlings also seems to be doing well with some members noting that it is primed to rise and possibly sell for the same amount as Senses. The NFT market is a very special one, it is hard at times to decide which projects will do better than the other. Currently there are no real utilities offered with the NFTs other than being able to stand out when you make a comment.
The Reddit platform has been crypto and NFT friendly for some time now, having accepted cryptocurrency for in-app purchases since 2013. The current offering of NFT avatars is available starting at a price below $10 with some going as high as $100. The team at Reddit has stated that the avatars can be used on and off reddit as they wish with the licensing rights given to them by Reddit. Users are also able to build and create their own avatars in the marketplace. The NFTs are kept on the “vault” which is Reddits very own wallet and all of the assets are kept on the Polygon blockchain.
The project has turned the hearts of some of the staunchest anti-nft naysayers on Reddit with one user making the statement “Reddit out here changing hearts and minds with those digital doodles”. True enough the platform is seeing more adoption of the NFT avatars daily.