How to Sell Your Avatars Without Getting Scammed

NFT

With the latest explosion in recognition of Reddit avatar NFT collections, new scams have surfaced to benefit from the hype.

Some scams embrace pretend NFT airdrops and faux web sites that ask to your pockets seed phrase.

Two common Reddit NFT scams

Within the first kind of rip-off, you’re knowledgeable that somebody has airdropped you a brand new NFT. Once you arrive on the assortment web site, the gathering appears professional as a result of it has a staff, buying and selling quantity, and an affordable ground worth. After you record the NFT on the market, the scammers drain your pockets.

One of many methods to keep away from the sort of rip-off is to solely work together with NFT collections you realize and belief. You can too switch your NFTs into chilly wallets for offline storage.

One other rip-off targets Reddit customers asking questions on methods to record their Reddit NFTs on OpenSea and retailer them in wallets. When Reddit customers put up questions on the Polygon subreddit, scammers usually direct them to a web site to attach “all” their crypto wallets. The criminals then ask customers for his or her crypto pockets seed phrase. If a consumer loses their personal key, the seed phrase is a sequence of phrases that they’ll use to recreate the personal key. The personal key offers a consumer full management and possession over the funds of their crypto pockets. Individuals use personal keys to create digital signatures that show possession of spendable crypto property in a transaction. If a scammer has somebody’s seed phrase, they may take full possession of that particular person’s digital property.

How you can get your Reddit NFT listed on OpenSea

Nonetheless, trustworthy individuals are keen to assist get an NFT listed on OpenSea. One consumer has created an inventory of steps to do that, which is summarized beneath. Observe that you have to maintain MATIC in your pockets to promote your NFT.

Firstly, click on in your Reddit profile image on the Reddit cellular app and click on on “Vault.” Secondly, click on on the three dots subsequent to “Vault,” then click on to indicate the restoration phrase. Thirdly, report the restoration phrase digitally or bodily. Fourthly, obtain the Metamask app out of your working system’s official retailer. After downloading the app, dismiss all of the welcome screens till you’re given the choice to import from a secret phrase. Faucet this, and paste the restoration phrase you recorded earlier, and create a password. Subsequent, as soon as within the Metamask account, click on “Pockets” on the prime of the display. Then click on the “Add Community” button, choose and make sure the Polygon community.

To connect with OpenSea, faucet the three traces within the higher left-hand nook of the Metamask app, then faucet the browser button. Navigate to OpenSea.io. As soon as there, click on the hamburger menu within the left nook and faucet the blue button to attach your pockets. Select Metamask and make sure your choice within the immediate that follows. Now, if you click on the hamburger icon and choose your profile, all of your NFTs can be there. You may promote them by tapping on the specified avatar, urgent the blue promote button, after which filling out any remaining fields.

How Reddit conquered OpenSea

Reddits NFT avatars have exploded in recognition for the reason that social media firm launched its market in July 2022. It began with a Reddit report entitled the “ABCs of NFTs,” via which the corporate gauged consumer likes and dislikes. Later, Reddit employed a slew of impartial artists to create digital avatars that it bought to customers below the Inventive Commons License for fiat. The corporate prevented utilizing crypto phrases all through the method, referring to the NFTs as “digital collectibles” and wallets as “Vaults.”

Up to now, the social media big has onboarded over 2.5 million wallets. Its flagship NFT assortment is a profile image NFT assortment based mostly on the web site’s mascot. Reddit initially provided the NFTs for as little as 0.03 ETH, however a latest bull run has seen the costs of some NFTs rise to 30 ETH. This week, the gathering topped the OpenSea leaderboard with 489 ETH in buying and selling quantity.

The most costly Reddit NFT bought at press time is “The Palms #1,” from The Senses Assortment for 30 ETH ($40,451).

Supply: OpenSea

This NFT has been relisted on OpenSea for 150 ETH.