Has the Reddit Collectible Avatar Bubble finally popped? One day after launch most GEN 3 Avatars are selling below mint price.

GEN 3 was incredibly hyped as Redditors expected it be a money printer after the mass success of GEN 1 and GEN 2. However for most bots or users, it's been the exact opposite. Almost one day after the launch of GEN 3, most avatars are selling at a loss.

Take for example, "The Spalder Missionary" a $100 Avatar from the new artist Kinnester

https://preview.redd.it/vpvo8pxs1hta1.png?width=532&format=png&auto=webp&s=7320fb24834ee6fd57b65501e36cf759d685c660

This avatar is going for $70 on OpenSea, with 6 out of the 150 supply, currently up for grabs below $100.

This isn't a one off either, while checking the price of GEN3 this morning, nearly everything I checked was below mint price, even from established artists like StutterVoid, with his $10 Mint Avatar selling for $8.80 on OpenSeas.

And this one isn't even sold out.

For everyone angry that Bots, bought up most of GEN3, it looks like you might have something to celebrate as Most Avatars from GEN3 are now selling at a loss.

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Four days ago, I made a post warning users to treat GEN3 as a gamble and not an investment because it was not guaranteed they would hold their price above mint.

It's almost guaranteed that some avatars from Gen 3 will sell at a profit, but it's not definite which will and if any will not, so spending any amount on Avatars for the purpose of reselling should be considered a gamble, not an investment.

Hopefully for those that bought, nobody spent more than they could afford to lose.