FxBrokerReviews.org – The social media platform, Reddit has been a huge supporter of cryptocurrencies for a long time now. Through a method of in-app payment, Reddit has been encouraging its followers to shift to digital currencies. With the recent launch of its collectible NFT Reddit avatars, the platform has shown a complete shift into the NFT marketplace.
Since its debut, some of the NFT avatars have skyrocketed in value and earned a position in the top 10 NFT collectibles in the Polygon blockchain. The Reddit NFT avatars, though minted on the Polygon blockchain have eased their way into popular marketplaces like Opensea, selling for a premium amount.
Reddit NFT looks promising, as more and more investors are placing their trades in the marketplace. But as their popularity has grown, so has the number of questions about where to find them, how much they cost, and more.
This guide will take you through all the aspects of Reddit NFT and provide information about how to invest in NFT Reddit, where to buy them, and more!
Quick Facts
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What is an NFT Reddit?
A Reddit NFT is a type of avatar NFT, launched by the popular platform Reddit. These NFTs can be purchased on the Reddit NFT marketplace. Minted on the Polygon blockchain, these tokens are described as limited-edition avatars made by independent artists, in partnership with Reddit. Like the mainstream NFTs that include videos, music, VR and more Reddit Avatars are mainly artworks, that users can either store or use as Profile pictures. These avatars are easily available on popular marketplaces.
What is a Reddit Avatar?
Reddit has launched its NFT tokens in the form of NFT avatars. These avatars are artworks, that can be used for digital identity and additional utility benefits on the Reddit platform. Each Avatar can be customized with various gears and accessories.
The artwork for each Reddit Collectible Avatar is created by a variety of independent artists these creators are paid for each avatar that is sold on the Reddit platform, in addition to the royalties on secondary market transactions.
At the time of writing, there are more than 2.93 million Reddit Collectible Avatars that have been sold across 61 different collections. Currently there are2.84 million holders of the avatars. Moreover, to encourage the entry of more and more users, Reddit provided them with the ability to create their crypto wallets, called Vaults, within the Reddit platform.
What is the Reddit Vault?
It goes without saying that If you are interested in trading NFTs and you want to learn how to make NFT Reddit, it is important to understand the concept of Reddit Vaults. The vault facilitates the storage and initiation of transactions of digital tokens based on blockchain for Reddit users, including collectible avatars. When your vault is created, you will be given a public address, and you need to keep it safe. This public address is the key to accessing the Collectible Avatars that only you control.
Remember, that only you can open your vault, so never share the password with anyone else or even respond to messages claiming, Reddit Vaults access. No Reddit employee will ever ask you for your Vault password. Read below to learn how to claim Reddit NFT in the vault.
Where can I get Reddit NFTs?
Initially, Reddit opened up the possibility of trading their NFTs through their own Reddit NFT marketplace. The platform launched in July 2022, allows users to buy, sell, and trade its NFT avatars. To trade in the marketplace all users are required to open a Reddit Wallet to store and purchase tokens. The NFTs available on the platform consist of a wide range of designs and expressions. In the marketplace, users can use buy the NFTs and use them as profile pictures.
Moreover, Reddit , airdropped several NFTs and even allowed users to pay for them using fiat currencies which ranged in price from $10 to $100. Although the marketplace is now sold out, you can buy avatars from secondary NFT marketplaces like OpenSea.
Why are Reddit NFTs so popular?
Reddit NFTs are soaring in popularity which might have got you wondering : what is it that makes it so valuable?
Like popular avatars of the Bored Ape Yacht club or the crypto kitties, Reddit NFT avatars also have a huge fanbase. Reason? A digital identity. The factor that drives the value of these NFTs is an attempt to earn status in the NFT marketplace. You probably would have seen celebrities going crazy for the apes, by the Bored Ape Yacht club. Another factor that adds to the value of these avatars is the perks linked with the NFTs for Reddit users.
Furthermore, what blockchain are Reddit NFTs on, shouldn’t be a question to worry about, as all the avatars are minted on the polygon – which is an Ethereum-based blockchain network.
Types of Reddit NFTs
There are several different types of Reddit NFTs available at this time, which include NFTs made by independent creators, free NFTs, and more. Take a look below to know more:
1. CryptoSnoos
CryptoSnoos is considered the exclusive NFT collection by Reddit. The collection includes an image of Reddit’s alien mascot, known as Snoo. these alien mascots come in different variations – some are pixilated, while others have a different accessory, color, or gear. All CryptoSnoos avatars have glowing animation, similar to the animation used for collectible avatars.
Each CryptoSnoos NFT comes in a different stock level, which determines its scarcity. These tokens are available to buy on OpenSea. Read our guide on how to buy NFTs on Opensea.
2. The Singularity
This token collection, is one of the NFTs that users can select from when claiming their free Reddit NFTs. these tokens consist of robotic and futuristic avatars and elements. As of August, a total of 13,950 NFT tokens have been minted. The floor price to purchase the Reddit NFTs is 0.02 ETH.
3. Aww Friends
Aww Friends tokens are a collection of Reddit NFTs created by independent artists. The NFT tokens consist of avatars in the form of cute and friendly animals. The floor price for one Reddit NFT is around 0.01 ETH.
4. Drip Squad
Drip Squad NFT Reddit is again a collection of NFT tokens that are based on the street-style scene. These avatars were created by Reddit with the purpose to reward their top contributors, hence they are limited in number. The floor price for a Drip Squad NFT is around 0.03 ETH and the highest listed price is 255 ETH.
5. Meme Team
As the name might suggest, Meme Team Reddit NFTs are designed as beautiful and funny-looking avatars, which can be weird to look at. The floor price for a Meme Team NFT is 0.02 ETH. The Meme team token is sold for the highest price out of the four NFT collections, with the highest listing price of 69,420 ETH.
How to invest in NFT Reddit?
Similar, to all other popular NFT tokens, a user can invest in the NFT marketplace by creating, selling, or buying NFTs. let us go through each of the investing options and understand them in detail.
Is it possible to make your Reddit NFT?
When the Reddit NFT was launched, the collection was only available in the Avatar Marketplace of Reddit. Then, later in August, the platform airdropped a few avatars. Currently, all the Reddit Collectible Avatars are available on the Polygon blockchain, which is also compatible with the Reddit Vault wallets. Users can also buy the Reddit avatars from their biggest secondary marketplace – OpenSea.
Find a detailed step-by-step description of how to buy NFTs on Opensea.
1. Connect with a crypto wallet
To buy Reddit NFTs on a secondary marketplace, you need to connect with a crypto wallet like MetaMask to store your NFT and initiate the transaction. Add funds like ETH to your crypto wallet and then you can proceed to claim your Reddit NFT.
2. Make an OpenSea Account
If you haven’t already registered with Opensea, you are required to create an account with OpenSea and enter all your details. Once you have successfully registered with the marketplace, you can choose the NFT Reddit and proceed to purchase it.
How to claim Reddit NFT for free?
Claiming a free Reddit NFT involves pretty easy steps. But before you proceed to claim yours, remember that it can only be done if you are already a top Reddit user and have earned a high number of Karma points. Reddit karma refers to the score that a Redditor receives for their activities on the platform. A user should have at least 2,500 or higher Karma points to receive a free Reddit NFT.
Now, once you qualify for the number of Karm points, you can claim your free NFT by visiting the home page of Reddit. From there you need to select the home tab, which is located in the top left corner of the page. Scroll down a bit until you see a banner with an image of Reddit avatars that reads “You’ve Earned a Collectible Avatar”. This banner pops up between two Reddit posts.
Just below the banner, you will find a button for “Claim Yours Now”. Click on the button, and then you will be able to choose from several themes before claiming your avatar.
However, keep in mind that Reddit does not always offer Free Reddit NFTs since the airdrop happens in batches. You need to wait for your chance to be able to claim your free NFT.
Should I invest in a Reddit NFT?
Reddit NFTs have taken the internet by storm since the launch of its collection of 40,000 NFTs on its marketplace. The Reddit NFT marketplace has taken over some of the popular marketplaces like Binance and Opensea, with over 3 Million wallets to its name.
The customizable avatars with unique skins and features are all the reasons behind the craze of these NFTs. with an initial price ranging from $10 to $100, Reddit NFTs moreover answer whether or not is holding an NFT worth it.
Currently, the platform claims to have 52 million active daily users. And there is plenty of room to onboard more people and a larger market waiting to be untapped.
Final Thoughts
Our guide on Reddit NFTs, explored various aspects of the newly launched NFTs by the social media platform. We answered questions like What is an NFT Reddit, how to buy one, and whether is it worth investing in.
Looking at the rage all over the internet, we understand your curiosity about investing in a Reddit NFT. You can buy the NFT from either a secondary marketplace like Opensea or if you are a premium Reddit user you can even wait for their airdrops and claim your Reddit Avatar for free. However, we advise you to research before you buy any tokens!
FAQ’s
Q1. How do I get my Reddit Avatar for free?
Ans: To get a free avatar, log in to your Reddit account and if you qualify for the free NFT, you will see a banner for the same. Click on the banner, and you will receive your choice of free avatars.
Q2. Can I sell my Reddit NFT?
Ans: To sell your NFT, go to the marketplace, visit your profile and you can sell your desired NFT by tapping on it and filling in details like the price.
Q3. Why are NFT avatars so popular?
Ans: The avatars are seen as a sign of social status and symbol. It also helps to create massive networking on various social media platforms.
