Reddit Avatar NFTs Raise Eyebrows as They Rocket to $5K
Non-fungible token (NFT) avatars from social network Reddit have sold for $5,000 (4 ETH), potentially signaling a rising demand for the digital assets. The Senses collection has so far proven to be the most lucrative among Reddit’s Collectible Avatar NFTs, according to the recent sale of a pair of them. Avatars NFTs The Hands #16 and The Hands #46 each sold for 4 ETH, or roughly $5,000. A longtime crypto-friendly environment, having accepted cryptocurrency for in-app purchases since 2013, Reddit also offers user avatars as NFTs. While the social network collaborated with many independent artists to create over 90 designs, the total number of NFTs available number upwards of tens of thousands. Those who purchase them are given licensing rights, enabling them to use the avatar off the platform as well.Reddit offers several types of NFTs, including those made by independent creators.
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