Reddit NFT avatars are sold for a premium on OpenSea

Sales of newly launched Reddit blockchain-based avatars are surging on NFT (nonfungible token) marketplace OpenSea, surpassing the platform’s proprietary store.

Reddit, the “front page” of the internet, tapped into the burgeoning world of NFTs with the 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 can purchase a variety of avatars for their profiles using Vault, Reddit’s cryptocurrency wallet, with credit and debit cards accepted to make payments for blockchain-based NFTs.

Reddit avatars are created by a variety of independent artists who use the platform and are stamped with purchases on the Polygon blockchain. Given that OpenSea has cross-blockchain support across the Ethereum, Polygon, Klaytn and Solana blockchains, Reddit NFTs are now being sold at a premium on the popular NFT market.

NFTs currently available for purchase on the Reddit Avatar store page range from $5.00 to $49, while the NFTs that were listed for $50 or more are now sold out. These more expensive avatars are still available on OpenSea, albeit at prices significantly higher than the original Reddit listings.

Two specific collections, The Senses x Reddit Collectible Avatars and Foustlings x Reddit Collectible Avatars, are prominent Reddit Avatar collections featured on OpenSea.

Related: Reddit Partners with FTX to Enable ETH Gas Fees for Community Points

Around 1,300 The Senses NFTs are listed on the marketplace and have generated a total of 15 Ether (ETH) on Polygon, or $25,000, in sales since August 20th. The Mouths #12 is the most expensive NFT sold in the collection to date, selling for 1,377 Polygon-bridged ETH, or $333, on September 3rd.

There are around 1,800 Foustlings NFTs are listed on OpenSea, with sales volume totaling 9.6 Polygon-bridged ETH at the time of writing. Rainbow Foustling #373 fetched 0.348 Polygon bridged ETH, or $577 on Sunday, and currently ranks as the most expensive NFT sold from the specific collection.

Collections Natsukashii, Celestial Assembly and Wearing Your Emotions are seeing slow trading, accounting for 3.7 ETH, 2.4 ETH and 1.5 ETH respectively in polygon bridged sales.

Reddit’s first NFT announcement indicated that the launch of avatars would primarily allow artists to create and sell NFTs through the store and on secondary marketplaces.