What it is and how to sell Reddit Avatar NFTs; Explained
What is a Reddit NFT?
A Reddit NFT is a type of avatar available on Reddit’s avatar market. Redditors can buy blockchain-based images from this marketplace for a predetermined price. Users receive a licensing right to the corresponding token when they purchase a Reddit NFT. They have full ownership under the license, and holders can use their avatars both on and off the Reddit platform. By purchasing these avatars, owners can also change the appearance of the avatar using items from the avatar builder.
Types of Reddit NFT
There are different types available, including CryptoSnoos, the latest free NFTs, and NFTs created by independent creators.
1. CryptoSnoos
CryptoSnoos was introduced on Reddit as the site’s primary and only NFT collection. An image of Snoo, the alien mascot of Reddit, can be found next to each NFT in this collection. Due to the individuality of each NFT, these images are available in a wide range of styles. A disco ball appears on one NFT panel while an image appears on the other.
Each CryptoSnoos has a unique stock level, which confirms its rarity. The Legendary, Epic and Rare classifications are among those that can be applied to a CryptoSnoos. Due to their rarity as well as their legendary status, Legendary CryptoSnoo’s NFTs are more expensive than the others. Conversely, limited editions of rare NFTs are well known to exist. Users can purchase it on OpenSea if they have a MetaMask wallet. Also, make sure CryptoSnoo’s OpenSea page is also linked to their Reddit account.
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2. Reddit NFTs by independent creators
They are collectible avatars created directly on the Reddit platform by independent artists. Most of these can be purchased on OpenSea or Reddit. Since there is no auction, each NFT has a fixed price. These can be purchased with a debit or credit card plus many Redditors use a cryptocurrency wallet to do so.
3. Free Reddit NFTs
To distribute free Reddit NFT avatars, Reddit is currently sending batches to prominent Reddit users. Although the requirements for the airdrop are not explicitly stated, it is believed that these are intended to be distributed only to the top Redditors who have accumulated high karma points through the Reddit karma program. When a member is selected to receive one of these avatars, a banner will appear directing them to the Reddit NFT claim page.
Styles of Free Reddit NFTs
Users can claim four types of free Reddit NFTs:
- The Singularity – 13,950 minted as of August 20, 2022
- Aww Friends – 5488 minted as of 20 August 2022
- Drip Squad – 3138 minted as of August 20, 2022
- Meme Team – 5460 impressions as of August 20, 2022
What makes Reddit NFTs so popular?
The popularity of Reddit NFTs is evident. Within a short period of time, the Reddit NFT marketplace outpaced more experienced NFT marketplaces in terms of sales. The Reddit NFT market had nearly 3 million wallets by October 2022. However, 2.3 million users were actively using OpenSea at that time, in contrast. Considering that a significant portion of Reddit’s user base is known to be anti-NFT, how did NFTs there achieve such popularity?
Smart marketing tactics
The success is largely the result of smart marketing. The social media platform avoided using the term “NFTs” with great caution. Instead, they used the terms “Digital Collectibles” or “Collectible Avatars” to describe their avatars. Reddit did not use the terms web3, NFTs or crypto jargon in its pitch to its user base. These avatars can also be purchased by users with fiat money.
Reddit avatars were compared to video game skins
Because of their ability to be customized, Reddit avatars are generally seen as having more utility than other so-called “JPEG NFTs.” A Reddit user made a comparison between these avatars and video game skins to explain this.
Also read: Defi Kingdoms: An Introduction To The Play-To-Earn Defi Game
How to get free Reddit NFT
Claiming a free Reddit NFT is quite easy, but users can only do so if they are already a popular redditor and have a lot of Karma points. According to estimates, a user needs 2,500 or more Karma points to qualify for a free Reddit NFT. If they’re eligible for a freebie, they can get one by visiting Reddit’s desktop homepage, which will display a general feed of articles and threads that they can click on. The top left of the page contains the tab that leads to the home page.
Scroll down until the user sees a banner with a Reddit avatar image saying you’ve earned a collectible avatar. This banner will appear in the space between two Reddit posts or threads.
There is a button that reads “Claim Yours Now” below this sentence. After clicking the button, users can select their avatar’s theme from a variety of options.
How to buy Reddit Avatar NFTs
It can still be bought on secondary markets like Bybit even though Avatar Marketplace has sold out of them. Users must first create a crypto wallet before they can do so.
- Step 1: Create a crypto wallet
- Step 2: Buy crypto
- Step 3: Send crypto to your non-custodial wallet
- Step 4: Register on Bybit
How to Sell Reddit Avatar NFTs
Users can sell in three easy steps
- Step 1: Get your recovery phrase
- Step 2: Download and configure MetaMask
- Step 3: Link your Bybit account
Read also: Digital identity: Why identity is important in Web3; Explained
Selling Reddit NFTs can be profitable
Now that users are aware of how to sell Reddit NFT avatars. They were also shown where to buy them in this guide. The steps listed above may seem laborious or extensive if completely new to NFTs. But using software like Bybit and MetaMask becomes increasingly self-intuitive once you get the hang of it. The best thing about Reddit is that they can always ask other users for advice or support.
Also read: Blue Chip NFTs: What It Is, It’s Projects, And How to Identify It?
