Ok, so I got a Work Friends #1 from this Reddit Avatar drop, and I thought it was cute because I’m an electrician and the little dude is wearing a hard hat and a high visibility vest. Now I have offers in my mailbox to buy it. Can someone please explain to me exactly what the attraction is towards these avatars and why certain ones are valuable? I’m trying to figure out if I should sell it (because I happen to be a little fond of it), and if I did, what it’s actual price should be.
2 thoughts on “Ok, so I got a Work Friends 1 from this Reddit Avatar drop…”
one of my friends got a serial 1 one too earlier and had someone message him about it, it seems like it was selling for around 3 or 4 hundred dollars from what he was told and i’m kinda shocked that these dumb avatars are worth that much, haha
Hey fam so I did a quick search on Google and opensea for work friends #1 and I got 1 image on opensea of what is actually a nice pfp imo. On Google, vee friends founded by Gary vee, was the closest thing to come up. I’m not schooled on reddit nfts at all. Anyway to answer your question the attraction to a “pfp” nft can be dif things. 1 your metaverse avatar. That nft can describe someone in the vi r tual world. -2- pfp nfts are traded like a card game naturally, due to “traits” that each nft may or may not have. Example would be in a collection of 10k there may be 100 that have laser eyes made of green goo which makes it more valuable because it has more rare traits than the other 9,900. The movement of cards (and eth) can create opportunities for flipping your nft for a profit. So what’s your nft worth you ask. That is where the floor price becomes important. While all of those nft’s have been being bought and sold, they naturally create a “floor” price. Example- you list your nft for sale because you have your eye on that rare trait Lazer eye goo, and the one you minted just isn’t cool enough. You say “ok. To mint this cost me, 1 eth.” I hate it” you say. “I’m going to sell it for 1 eth to someone who likes it, and mint another to try and get those goo eyes.” Now, if you are the lowest price nft listed, you just created the floor price. To further explain, let’s say the next degen comes along and mints an nft. He wants Lazer goo eyes too, but he also wasn’t lucky enough to mint one. He decides, ” I’m going to list mine for sale and try to get the card I want as well but I want mine to sell fast.” So the degen lists his nft for sale for slightly less than yours is listed for, in an effort to sell before you. That degen has now created the floor price. The slightly lower price his nft is listed for, now becomes the price of your nft as well.. If someone can get the same traits your selling, for cheaper, they are going to go cheaper. Effectively de valuing your card. It is a very fun game and I encourage every one to check it out and never invsst more than your willing to lose.. All that being said the answer for you in particular with this nft, work friends … I did not find much info on the project and (not financial advice. Dyor) if I don’t see alot of verifiable information and a large community I would not invest. Research everything in web3. Scammers are taking advantage of the fact that it’s so early in the space, with creative ploys to drain your wallet. While that seems scary dont let it keep you away. I’m a dumbass and I haven’t gotten drained by using common sense and keeping my nfts in a wallet that is not used for surfing around web3 and hooking up with every dirty wallet in town. While it is early and there are alot of changes and challenges ahead … ITS FKN EARLY! You have the chance to get in on the bottom floor fam. I’m proud af of all of you. See you on the otherside.
-again- do your own research.
Follow me on Twitter @Unlisted7331 and LFG get this eth.