Reddit NFTs Sold for 4 ETH Each

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Editing by Nathaniel Cajuday

A pair of non-fungible tokens (NFTs) from the social network Reddit was sold for 4 ETH each (approximately ₱307,000.00) on September 21, 2022. This has made the demand for NFTs soar high.

The Senses Collection

Reddit airdropped profile pictures or avatars to selected members of the Reddit community and some of its members sold their avatars on OpenSea. The highest sales, so far, are The Hands #16 and #46 of The Senses collection which was sold for 4 ETH each. The floor price, as of writing, is at 1.6 ETH (approximately ₱120,000.00) and with a total volume of 76.7 ETH (approximately ₱5.9 million). 

The Senses’ The Hands #16 and #46 sold for 4 ETH each

The Senses was created by Rojom (Reddit username) as a part of the Collectible Avatars Creator Program.

Some Reddit Community Reactions

Reddit community member, Imalittlestitious86, posted their reaction about the recent sale.

“The hands just sold for 4eth, like wtf lol. This is wild. The senses collection is going absolutely insane and one just sold for 4eth. The foustlings collection looks like it could catch up in the near future and go for similar amounts. This is some serious return on investment and I’m wondering if we’ll see six figure sales on these avatars in the future. Absolutely insane to think that before these this sub hated digital assets with a passion. Reddit out here changing hearts and minds with those digital doodles.” Imalittlestitious86 posted.

Upon checking on another Reddit creation, the Foustlings collection, on Opensea, had its highest sale at 6 ETH (approximately ₱460,000.00) that was made on September 23, 2022.

Other comments on Imalittlestitious86’s post were from: 

  • TruthSeeeekeer: “about to FOMO [fear of missing out] into Reddit Avatars in 3,2,1…”
  • Bushchook83: “‘We hate NFTs!’ Reddit: ‘Look at these Avatar NFTs we just released’ ‘Give us more NFTs!’” 
  • Partyms: “It all took a free NFT to change all of our opinions. Smart play reddit.” i

Showing that the community may have a change of heart about NFTs after hearing about the news. While there are others who doubt the recent sale.

MrCantPlayGuitar stated, “Dude sold it to himself to pump the price for a resell. Common in the NFT world.” Insinuating that the sale was just orchestrated by the same person to create a raise on the price. But some users like soootrp and Kevin3683 sees that the sale was legit.

Reddit on NFTs

Reddit has been a crypto-friendly environment and has accepted cryptocurrencies for in-app purchases since 2013. Reddit even launched its own NFT platform in July 2022 for Reddit users to purchase their own avatars. The platform is based on the Polygon (MATIC) blockchain. Reddit has been randomly giving away free NFT avatars to its community.

On September 13, 2022, Cofounder of Reddit Alexis Ohanian’s venture capital firm, Seven Seven Six (776), contributed to the $54 million worth of funds raised by Doodles, the company behind the popular pastel-colored profile picture NFT collection. Among the companies that contributed were 10T Holdings, Acrew Capital, and FTX Ventures.

This article is published on BitPinas: Reddit NFTs Sold for 4 ETH Each

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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