If you have logged on to NFT twitter recently, you might have seen the massive buzz about Reddit NFTs. While it seems the community only found them this week, the collection already has a solid foothold with newcomers. Now, Reddit\u2019s avatar collectibles are in OpenSea\u2019s top 10.<\/p>\n So why exactly are people talking about them? Well, Reddit revealed this week that its users opened over 3 Million wallets. Yes \u2013 just for NFTs avatars. Believe it or not, that\u2019s actually more crypto-wallets than the leading NFT marketplace, OpenSea. That aside, the top forum website ended up distributing a huge 86,000 NFTs.\u00a0 40k of these were available to purchase while the remaining number were airdropped to Reddit\u2019s top users.<\/p>\n Of course, NFT twitter missed the boat. Seemingly, the biggest names in NFTs were oblivious to the new chart-toppers. Until now, that is. With 3m new users onboarded to NFTs, the bear market is finally looking up. Reddit\u2019s avatar collections are now in the top 10 on OpenSea. Plus, with their 5% royalties, Reddit is raking in thousands.<\/p>\n Firstly, Reddit Avatars never actually mention NFTs at all. Besides that though, they also work differently to any major NFTs we\u2019ve seen previously. For one, each of the avatar\u2019s attributes act like wearable items. To explain, this means Redditors can use each element separately, be it a hat or hairstyle. This taps into the whole revolutionary nature of the blockchain. Now, true digital personalization is possible!<\/p>\n On the site itself, Reddit Avatars appear not unlike Twitter\u2019s NFT update. That familiar hexagon is back to remind Redditors that \u201cThis Avatar is a collectible\u201d. On a users profile, you may also find the NFT\u2019s details, for example, its ID and the total number of editions. Furthermore, Reddit also makes it easy to find the NFT\u2019s \u00a0IPFS and block explorer links.<\/p>\n Reddit\u2019s web3 journey began back in July 2021 when it launched 4 unique NFT avatars. Although these sold for around $260k\u00a0 each at the time, the collection did not go down well with the online community. Just the thought of NFTs outraged the majority of Reddit users. Then the rest just found it hilarious.<\/p>\n Then in August, Reddit airdropped NFTs to their most active users for free. This was a game-changer. Of course, everyone loves free things. Since then, reddit users began adopting the new \u201ccollectibles\u201d and using them on their profiles.<\/p>\n Next, Reddit launched paid collectible avatars which sold out immediately. Now, the second market is catching up with some of the NFT community\u2019s biggest names getting in on the action.<\/p>\n At first, the new avatars rolled out for Reddit Premium users only. These premium users \u2013who pay $5.99 per month\u2013could select premium avatar attributes or traits. Luckily for them, Reddit covers the gas fee for users too.\u00a0Apart from that, Reddit also airdropped some NFTs to their users completely free!<\/p>\n At release, Reddit avatars can cost anywhere between $10 and $100 dollars. However now, some of the top avatars are going for 6.9ETH. In fact, one even sold for an incredible 175ETH! Believe it or not; It\u2019s market cap is $100 Million and the 24h volume is at $235k and rising.<\/p>\n Obviously, the more scarce the NFT, the more valuable it is. With these Reddit Collectible, they can range from 100-1000 editions.<\/span><\/p>\n Well, despite the very obvious omission, yes, Reddit avatars are indeed NFTs. They are each fully fledged NFTs on the Polygon Network. However, Reddit labels them \u201cavatars\u201d and \u201ccollectibles\u201d. Likely, this is\u00a0 due to the horrific backlash they received when announcing the move back in July. But now we can\u2019t complain \u2013 it seems to be working!<\/p>\n Reddit make it super easy to onboard those new to crypto. In fact, many users probably have no idea they own an NFT. Reddit\u2019s onboarding is so seamless as:<\/p>\n If you\u2019ve been living under a rock, Reddit is one of the biggest forum websites in the world. Monthly, it has an incredible 430 Million active users. Started in 2005, Reddit is now valued at $10 billion, with over 30 billion views per month. This is the most exposure the NFT community has ever seen.<\/p>\n Make sure you check out the specific analytics site Redditfloor, to see which NFTs are doing the best. Then, check out the original avatars, top avatars and limited editions too.<\/p>\n![\"NFTS](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/NFTS.png.webp)
\n<\/picture>\n<\/noscript>What is the Reddit NFT Hype All about?<\/span><\/h2>\n
How do Reddit collectibles work?<\/span><\/h2>\n
The history of Reddit Vs. NFTs: How did we get here?<\/span><\/h2>\n
![\"Mando](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/mandoreddit.jpg.webp)
\n<\/picture>\n<\/noscript>How expensive are Reddit Avatars?<\/span><\/h2>\n
Are Reddit Avatars NFTs?<\/span><\/h2>\n
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![\"\"](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/reddit3-scaled.jpg\"\/)
\n<\/picture><\/p>\n![\"\"](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/reddit3-scaled.jpg.webp)
\n<\/picture>\n<\/noscript><\/p>\nWait, what is Reddit?<\/span><\/h2>\n
Learn more about Reddit NFTs<\/span><\/h2>\n