Are you new to the world of Reddit NFTs and want to learn more? Then, you’ve come to the right place. Reddit’s Collectible Avatar collection is onboarding millions of people to NFTs with the help of over 100 leading artists, creating NFTs based on the popular website’s mascot, a small alien named “Snoo”. However, despite the massive interest in the collection, the project has faced some controversy since launching in August 2022. Nonetheless, it has already sold over seven million unique wallets and has overwhelmed Reddit’s NFT marketplace with demand.
If you’re interested in investing in Reddit NFTs, you may have some questions, such as what are the best NFTs to invest in, how much are Reddit NFTs, or how do you sell Reddit NFTs? We’ve got you covered, though. To learn more about Reddit NFTs and the biggest new NFT project on the blockchain, continue reading below.
Elevate Your Collection with Reddit Avatars - Non Fungible Tokens or Digital Collectibles?
Reddit's digital collectibles have stirred up some controversy since their release last year. To combat their users' dislike for NFTs, Reddit chose to downvote the term "NFT" and refer to them as "digital collectibles" instead. The decision proved successful, as the community bought into it, in part because they were buying "digital collectibles" and not NFTs.
How Reddit Onboarded 3 Million Users with NFTs?
In its first NFT drop, Reddit released 90 different designs with a total of 40,000 individual NFTs, selling out within a month. Mint prices ranged from $9.99 to $99.99, and strong secondary sales followed as users paid premiums for artwork from their favorite artists. Reddit stuck to the first rule of Web3 and continued to offer free NFTs, airdropping them to its most loyal users.
The move was so popular that over 3 million Reddit users have signed up for crypto wallets to date, and the Reddit Avatars quickly reached the top 10 list for OpenSea volume rankings. Reddit partnered with the NFL to release Super Bowl-themed Collectible Avatars, with football fans claiming one NFT per account for free. Redditors minted over 2.1 million Avatars, and the project had an astounding 99% unique owner count.
In short, Reddit's NFT project has quickly become one of the biggest Web3 communities, and its massive brand potential has been on full display. However, the controversy surrounding Reddit NFTs has led to confusion among many aspiring NFT collectors. But, we hope this guide has cleared things up for you.
Unveiling the Hottest Reddit NFTs to Invest In
Looking for the Best NFTs to Invest in on Reddit? Rojom's NFTs are currently commanding the highest prices on the platform. His dark and somewhat creepy aesthetic has won the hearts of many Redditors. As of today, a handful of his NFTs have standing offers of 2.75 ETH. Other highly-sought-after collections include the Midas Touch series by poieeeyee, the Diamond Diablo avatars by Shutter, and The Assembler NFTs by Conall Murray. Each of these collections has wETH offers ready to accept over .5 ETH.
Buy and Sell NFTs on Reddit: A Step-by-Step Guide
To buy Reddit NFTs, anyone can head to OpenSea, but buyers can also purchase Collectible Avatars on Reddit's own marketplace after creating a Reddit account. Reddit's ability to simplify the onboarding process has contributed to the success of the Collectible Avatars. Reddit offers a built-in crypto wallet called a Vault that functions much like MetaMask and other Web3 wallets but also connects to users' profiles. It also allows users to purchase NFTs using credit cards, which is a significant breakthrough for those unfamiliar with handling crypto and NFTs.
To make the buying process even more accessible, Reddit has partnered with layer 2 blockchain Polygon to keep gas costs low. Avoiding expensive gas fees helps incentivize many small purchases. Reddit's digital collectibles have been a great success, and the company recently released the third generation of Collectible Avatars. The newest drop was the biggest one yet, with collections from over 100 artists, including one from "Nyan Cat" creator Chris Torres.
Reddit has already made $74 million in revenue from NFTs alone, making up 17% of the company's total revenue. Despite the success, Reddit's CEO Steve Huffman clarified that the goal is not to "sell NFTs to crypto people to make a bunch of money." Instead, the company's motivation is to build "identity and reputation" into the community. As part of this approach, Reddit has introduced an avatar builder, allowing users to customize their favorite Collectible Avatar with hats, accessories, hair, jackets, and more. This strategy is foundational to Reddit's Web3 strategy moving forward, and the company is proving to be a significant player in Web3.
How to Create a NFT Collection Like Reddit and Make it Go Viral?
If you're interested in creating an NFT collection like Reddit and making it go viral, there are a few things you can do to increase your chances of success. Here are some tips to get you started:
Create a unique and compelling concept: Your NFT collection should have a unique and compelling concept that sets it apart from other collections. Whether it's a particular style of art or a specific theme, make sure your collection has a clear identity that resonates with your target audience.
Collaborate with popular artists or creators: Collaborating with popular artists or creators can help give your collection more exposure and credibility. Reach out to artists or creators who have a strong following and who align with your collection's concept.
Build a community around your collection: Building a community around your collection is essential to its success. Create social media accounts and engage with your audience to build a loyal following. Encourage them to share your collection with their own networks.
Use effective marketing tactics: Use effective marketing tactics to promote your collection. This could include creating a website, running ads, or partnering with influencers or media outlets to get the word out.
Offer unique benefits or rewards: Offering unique benefits or rewards to those who purchase your NFTs can help increase interest and engagement. Consider offering exclusive access to future releases or events, or providing early access to new content.
By following these NFT marketing strategies, you can increase your chances of creating a successful NFT collection like Reddit and making it go viral. Remember to stay true to your concept and engage with your community to build a loyal following.