A Reddit Avatar Just Sold For $5,000

Share This Post

Earlier today, a Reddit avatar was sold for a collection high of over $5,000

The collection was initially offered in July of 2022 at a price of $5-$50.

The social media giant-issued avatars are hosted on the Polygon blockchain. The primary utility of the digital assets are to be used as Avatars on the platform. Furthermore, the avatars can be easily customized in the app, offering further utility.

In response to the sale, popular Reddit community r/cryptocurrency offered mixed sentiment with some users suggesting an incoming breakout in popularity and price while others suggested potential market manipulation via wash sale.

Since launching the collection, a subreddit focused on the collection, r/CollectibleAvatars has been launched and built a sizable community of over 11,000 members.

The news marks an interesting development in a relatively cooled NFT market and is a source of hope for popular brands who launched collections into poor reception earlier this year.

spot_img

Related Posts

Void 2122 to Unlock a New Era of Combat Card Gaming with NFTs

The pioneering force in the Web3 landscape, Void 2122,...

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its...

Friend.tech Returns With Surging NFT Trading Volumes

Friend.tech, the decentralized social media app, has shown an...

CoinMarketCap and HELLO Labs to Premiere TV Series, Killer Whales

An official trailer for the Web3 television series 'Killer...

Machi Proposes 11M $APE Sends NFTs to Museums Worldwide

An intriguing week-long vote surrounding OG NFTs kick-started today! Machi Big Brother,...

Related Posts

Dookey Dash Pro-Gamer Claims Being the Winner

BAYC members celebrate a Dookey Dash player claiming he...

Top 10 NFT Marketplaces to Look Out For and Why

How numerous NFT marketplaces make hunting for digital collectibles...

Wow Bao Leaps into Metaverse with Innovative NFT Loyalty Program

Leading Asian food chain Wow Bao has stepped into...

The Top 10 Most Expensive NFTs Sold

7 out of the 10 most expensive NFTs sold...

What is an NFT Record Label?

An NFT record label is a type of record...

Milady Maker NFT Review – A Virtual World of Minecraft

Milady Maker opens up the virtual world of Minecraft Milady...