How I Turned My $50 to $350 Using Reddit Collectible Avatars
A couple of weeks ago, I wrote a story about the Collectible Reddit Avatars and how they were selling out fast.
So, immediately after writing that story, I bought some of those NFTs for myself, and I am pleased to say that all of the avatars I bought skyrocketed in value.
This blog is about the first collectible avatar I bought and how it turned my $50 into $350.
This NFT is the Mutant Monarch and is part of the first generation of NFT collectible avatars. When I wrote my previous article describing the Reddit NFTs, it was worth $50. I immediately bought it after seeing the opportunity to own something rare (there are only 151 copies of this avatar).
A few hours after I bought the avatar, it sold out and was selling at 0.33 eth(around $50 then), but I paid it no mind since I was planning to hold the NFT for about a month.
Fast forward to yesterday, I was casually browsing Reddit when I came across a post saying that the "the hands" avatar, which Reddit initially sold for $50, was sold for 4 eths (~$5000).
Naturally, I got curious and checked how my first NFT was doing, and this is what I saw:
It was last sold for 0.27 eth (~$350)!
Granted, it was not as good as 4 eths. A 700% increase in value isn't bad at all!
Before anyone asks me, I haven't sold mine off, and I haven't even listed it since I am predicting that the value of this avatar still has a lot of room to grow. I think that these avatars' value will keep growing as it ages.
And that's the story of how I turned my $50 to $350 (potentially more!). If you enjoyed that story and would like to keep updated, follow me. I occasionally write stories about crypto, NFTs, and sometimes my investments.
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