What is a Reddit NFT?
A Reddit NFT is a type of avatar available on the Reddit avatar marketplace. Redditors can purchase blockchain-based images from this marketplace for a predetermined price. Users obtain a licensing right to the corresponding token when they buy a Reddit NFTs. They have complete ownership under the license, and holders may use their avatars both on and off the Reddit platform. Purchasing these avatars also enables owners to alter the appearance of the avatar using goods from the avatar builder.
Types of Reddit NFT
There are various types available, including CryptoSnoos, the newest free NFTs, and NFTs made by independent creators.
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 alongside 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 would appear on one NFT panel while an image is displayed on the other.
Every CryptoSnoos has a unique stock level, which establishes its rarity. The classifications Legendary, Epic, and Rare are among those that can be applied to a CryptoSnoos. Due to their rarity as well as their legendary status, legendary CryptoSnoos NFTs are more expensive than the others. Conversely, limited edition versions of rare NFTs are well known to exist. Users can purchase it on OpenSea if they have a MetaMask wallet. Also, ensure that the CryptoSnoos OpenSea page is linked to their Reddit account as well.
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2. Reddit NFTs by Independent Creators
They are collectible avatars created directly on the Reddit platform by independent artists. The majority of these can be bought on OpenSea or Reddit. Since there is no auction, each NFT has a set price. These can be bought with a debit or credit card in addition to many Redditors use a cryptocurrency wallet to do so.
3. Free Reddit NFTs
In order to distribute free Reddit NFT avatars, Reddit is currently airdropping batches to prominent Reddit users. Even though the requirements for the airdrop are not explicitly stated, it is assumed that these are only meant to be distributed to 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 directing them to the Reddit NFT claim page is displayed.
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 — 5,488 minted as of August 20, 2022
- Drip Squad — 3,138 minted as of August 20, 2022
- Meme Team — 5,460 minted as of August 20, 2022
What makes Reddit NFTs so popular?
The popularity of Reddit NFTs is evident. In a short period of time, the Reddit NFT marketplace outperformed more seasoned 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 the time, in contrast. Considering that a sizable portion of Reddit’s user base is well known for being anti-NFT, how did NFTs there manage to gain such popularity?
Smart marketing tactics
Its success is largely the result of astute marketing. The social media platform avoided using the term “NFTs” with great care. Instead, they used the terms “Digital Collectibles” or “Collectible Avatars” to describe their avatars. Reddit didn’t use the terms web3, NFTs, or crypto jargon in its pitch to its user base. These avatars could also be purchased by users with fiat money.
Reddit avatars were compared to video game skins
Due to their ability to be customized, Reddit avatars are typically seen as having greater utility than other so-called “JPEG NFTs.” One Reddit user made a comparison between these avatars and video game skins to explain this.
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How to get free Reddit NFT
It’s fairly simple to claim a free Reddit NFT, but users can only do so if they’re 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 are eligible for a free one, they can get one by visiting Reddit’s desktop home page, which will display a general feed of articles and threads that they can click on. The top left corner of the page contains the tab that leads to the home page.
Scroll down until the user see a banner with a Reddit avatar image that says 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 purchased on secondary markets like Bybit even though the Avatar Marketplace has sold out of them. Users must first create a crypto wallet before they can do that.
- Step 1: Create a crypto wallet
- Step 2: Buy crypto
- Step 3: Send crypto to your non-custodial wallet
- Step 4: Sign up on Bybit
How to sell Reddit Avatar NFTs
Users can sell in three simple steps
- Step 1: Get your recovery phrase
- Step 2: Download and setup MetaMask
- Step 3: Connect your Bybit Account
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Selling Reddit NFTs could 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 might seem laborious or extensive if they’re completely new to NFTs. However, using software like Bybit and MetaMask becomes increasingly self-intuitive once you get the hang of it. The best part about Reddit is that they can always ask other users for advice or support.
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