thecoinrepublic.com
2 collectible avatars for Reddit – ‘The Hands#46’ and ‘The Hands#16’ – sold for 4 Ether each. When the deal was made, the price in US dollars was a whooping $5000 per collectible! As of September 22, 13:15 UTC, the price of 1 Ether was USD 1305.
The digital tokens were sold as part of a limited edition collectible series: ‘The Senses x Reddit Collectible Avatars’ or as Reddit users call it “The Senses”. The series is available on ‘Opensea’ which is the ‘first and largest marketplace for NFTs.’ Earlier, the same avatar in terms of image, but different in terms of item identity, The Hands #31 sold for $1400.
At the time of writing, an avatar called The Eyes #559 is being sold at 559 Ethers which is approximately $730,000. There are thousands of avatars on the platform that can be bought via Ether. According to the Opensea page, the series ‘was created by Reddit user Rojom as a part of the Collectible Avatars Creator Program’.
Reddit users noted how NFTs were once hated. The social media platform distributes or “airdrops” avatars to select users based on unknown criteria. Reddit has an active community called ‘Cryptocurrency,’ created in 2013. Users were amazed at the demand for the avatars and started ‘discussions.’
Ether is the cryptocurrency based on the Ethereum blockchain. NFTs can be traded on the Ethereum and Solana blockchains. While other blockchains also enable the development of NFTs, these two blockchains are the most popular. The ‘Cryptokittie’ NFTs are sold on the Ethereum blockchain.
The sale of NFTs on social media platforms can spur the adoption of cryptocurrencies as the only way to purchase an NFT is via crypto. Facebook or Meta had announced the launch of its metaverse. NFTs may define the way property and ownership works on the metaverse.