Reddit is betting heavily on cryptocurrencies and seems to be following all the latest crypto trends, including NFTs. With Twitter, Reddit is the most crypto and NFT-friendly social media platform.
Reddit is one of the most popular social media platforms out there. With over 300 million monthly active users, it’s no wonder why. Users post news, photos, videos, memes, GIFs, and more.
While some people only use Reddit to browse posts, others use it to find interesting topics to discuss.
For those looking to make money with Reddit, however, the site offers several ways to monetize.
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What is an NFT Reddit?
One way to monetize on Reddit is to sell virtual items called “non-fungible tokens.” These collectibles cannot be duplicated, making them unique and extremely valuable.
They are similar to CryptoKitties, another game where users can buy and trade digital cats. NFTs are stored within a blockchain (the most popular ones run on Ethereum, Solana, Polygon, BNB chain etc.) that allows users to track ownership and transfer information.
Strangely, the phrase “non-fungible token” was not used in Reddit’s business launch piece, which instead referred to artwork as “limited-edition avatars designed by independent artists, in collaboration with Reddit.” But remember that these avatars are nothing more than NFTs in their basic form.
Movies, TV shows, pictures and video games are traditional NFTs. Reddit avatars, however, lack all of these features. Instead, these digital artworks are mostly used on Reddit and other platform profile pictures.
These avatars can only be customized using Reddit Avatar Builder outfits and equipment. Another notable contrast is that these avatars can only be purchased with fiat money and at a certain price, which ranges from $9.99 to $99.99.
These NFTs allow Reddit users who are artists the opportunity to share and make money with their creations.
Only 5% of sales revenue goes to the social media platform, while the remaining 95% goes to the creator program and to pay blockchain fees and minting fees. Secondary sales will help artists by ensuring that their work continues to generate money after the first sale.
How do I get a FREE NFT Reddit? Is it worth getting one?
Only those who are already important Redditors and have a lot of Karma points can claim a free NFT Reddit. According to our estimates, a user needs 2,500 or more Karma points to qualify for a free Reddit NFT.
Reddit Karma is a score derived from a user’s activity on the site. Your total Karma count includes the Karma post and the Karma comment you earn by participating in subreddits. Reddit uses an algorithm to determine how much Reddit Karma each user has. Your karma score is influenced by the high and low marks you receive on comments and posts.
You need to invest some time in sharing material and leave comments on posts if you want to get karma. A fantastic technique for users to interact with you is to ask questions. Getting upvotes increases your ranking in the comment thread or subreddit, which can also boost your Karma score.
Here’s how to take advantage of a free NFT Reddit:
- Visit the Reddit homepage first. Make sure you’re using the desktop version
- Sign in to your Reddit account
- If you meet the requirements, you will see a banner
- Select one of several themes after clicking the link. After that, you can combine and match the features of your avatar completely free of charge
How do I set up Reddit Vault?
Reddit recently introduced a new way to send and store cryptocurrency on your phone. Called “The Vault,” it allows you to send and receive both Bitcoin and Ethereum directly within the app without having to go through third-party exchanges like Coinbase or Binance.
In addition to sending and receiving cryptocurrencies, the Vault also serves as a digital wallet where you can store coins and NFTs. You’ll be able to use those funds to purchase items in the app’s marketplace, including Reddit products, such as t-shirts and stickers.
You don’t even need to sign in to Reddit to use the Vault, though you do need to sign in to access Marketplace. However, if you’re already a redditor, there are some benefits to having an account. For instance, you’ll be able to take advantage of Reddit’s native tipping feature, which allows you to tip others for comments, posts, and submissions.
How do I sell Reddit NFT?
You can sell your NFT Reddit on OpenSea. Note: You need Matic to list your avatar.
How to sell your collectible avatar on Opensea
- Click your profile picture on the Reddit mobile app, then click Vault
- At the top of the screen next to where it says vault there should be three dots, click on those then click on show recovery phrase
- Copy the recovery phrase it shows (or write it by hand if you are concerned about security)
- Download Metamask on your phone (make sure you download it from your phone’s official app store so that you get the legitimate thing)
- Click any welcome message it provides, then click Import from secret phrase
- Paste the previously copied words and create a password
- Once you are in the Metamask account, click at the top of the screen where it says wallet, then click on the blue Add Network button, then choose the polygon mainnet and confirm that you want to add it
- three lines in Metamask (at the top left corner) and then click on the button that says browser
- Go to OpenSea.io
- Click the three lines in the left corner, opensea.io then click the blue Connect Wallet button
- Choose Metamask from the list, and then approve the prompt that appears
- Click on the three lines again and go to where it says profile
- All your avatars will be listed here, click on the one you want to sell, press the blue sell button and then complete all the fields that appear.
Click on the
Reddit MOONs/BRICKS vs. Reddit NFTs – Main Differences and Similarities
Reddit MOONS and BRICKS are fungible or interchangeable tokens. Regardless of how long ago you started cultivating both tokens, they are worth the same as tokens that were acquired or collected much later. The crucial difference between MOONS/BRICKS and Reddit NFTs is that Reddit NFTs, like CryptoSnoos, are valued for being rare and distinct in the market.
Community Points have many applications when it comes to MOONS and BRICKS.
The development of a subreddit and, consequently, the success of Reddit depend heavily on community interaction. Redditors are fairly compensated for their reputation and online engagement with tokenized Community Points. Members are encouraged to offer relevant information and participate in thought-provoking conversations when prioritizing their financial worth over their reputation.
MOONS and BRICKS run on the Ethereum blockchain. Other than that, the key similarity between these tokens and Reddit NFT is that they can be stored on The Vault.
Types of NFT Reddit
CryptoSnoos
The world of cryptocurrencies is getting a little more fun thanks to the launch of CryptoSnoo, a project designed to bring unique collectibles to the digital realm. The idea behind CryptoSnoo is simple: create interesting things that you can actually use. With the help of the Ethereum blockchain, CryptoSnoo is building a marketplace where people can buy and sell custom assets such as shirts, mugs, phone cases, and even CryptoSnoo itself.
CryptoSnoo
was launched with a T-shirt, a mug and CryptoSnoo itself. But don’t worry, there are plans to keep adding more products over time. In fact, CryptoSnoo co-founder Ben Hwang says he hopes to launch CryptoSnoo clothing and accessories for men, women, and children.
NFT Reddit made by other creators
In addition to CryptoSnoos, Reddit offers NFTs created directly by independent artists on the Reddit platform. On Reddit or OpenSea, you can buy most of these NFTs. Each NFT has a fixed price because an auction is not held. Reddit NFTs can be purchased with a debit or credit card, and many redditors use a cryptocurrency wallet to do so.
Free NFTs from Reddit
Reddit users can access four different types of free NFTs; The Singularity, aw Friends, Drip Squad and Meme Team.
Which blockchain does Reddit use to mint its NFTs?
Reddit produces its collectible avatars on-chain using the Polygon blockchain, which is a sidechain of Ethereum.
Frequently Asked Questions (FAQ)
What do you do with NFTs once purchased
Once you capture an NFT, you typically have complete control over the digital asset. It can be used in a larger digital production, stored as a collector’s item, or viewed for others to view. You can also put a sale notice on it. For NFT sales, marketplaces charge a fee.
Anyone can enter Reddit NFT
Yes, anyone can join Reddit’s NFTs.
How can I convert NFT to cash
All you have to do is transfer the NFT to the market. Then, on the page of the NFT you want to sell, click the “Sell” button. OpenSea is the most well-known NFT market.
You can only screenshot NFT
Owning a work by Leonardo da Vinci is not exactly the same as photographing the Mona Lisa in the Louvre. The same idea could be used in the case of NFTs for digital art. Taking a screenshot of an NFT does not grant you ownership of the artwork.
How much does it cost to make an NFT
An NFT can be produced for as little as $0.05 or up to $150. Solana’s blockchain is the least expensive, with an average NFT creation cost of around $0.01, while Ethereum’s blockchain is the most expensive, with an average cost of $70. This does not include market costs ranging from 2.5% to 5%.
NFT can make you rich
Yes, there are a variety of techniques you can use with NFT to make yourself rich. Creating your own NFTs, buying and reselling pre-existing NFTs, investing in NFTs for long-term gain (building wealth) or starting your own business and incorporating NFTs into your own brand are all ways to get rich.
