- At present, there are presently 9,909,465 Reddit collectible avatar holders.
- Of those, 7,650,072 are distinctive collectible avatar holders.
- Reddit NFTs had been launched in July 2022.
With a month to a 12 months since its launch, Reddit collectible avatar holders are 90,535 fewer than it is going to hit the ten million mark in accordance with knowledge revealed by Dune.
Apparently, the vast majority of present Reddit NFT holders solely maintain one avatar, which implies they do not have a number of wallets.
Reddit collectible avatars
Reddit Avatars launched in July 2022 after social media platform Reddit launched a collectible avatar market on Ethereum scaling community Polygon. Reddit content material creators and impartial artists design the avatars for the gathering.
The gathering of avatars surged within the first few months after launch earlier than hitting a plateau in November 2022 the place there have been round 3 million holders. Adoption resumed in 2023, nonetheless, with the variety of holders greater than tripling prior to now six months.
Together with holders rising the market cap of Reddit Collectible Avatars, it rose to $38.4 million. In whole, there are 13.7 million NFT avatars within the Reddit assortment.
Because the launch of avatars, there have been over 303,000 gross sales price $32.6 million in accordance with Dune’s evaluation.
Nonetheless, the sumptuous efficiency didn’t come with out issues. In Might of this 12 months, a Redditor known as “ContextMelodic4212” on the platform hinted on the chance that bots had been liable for the rise in Reddit NFT exercise. He mentioned:
“Really, there are a number of points right here and there with avatars getting picked up or kicked by some, it is from good. Nonetheless, I can not consider a greater use case for this know-how!”
Nonetheless, the difficulty with bots hasn’t gotten a lot consideration and through a current AMA with the r/India subreddit, Polygon co-founder Sandeep Nailwal mentioned he is an enormous fan of bots. Reddit avatars and prompt launching a secondary market and Artist Launchpad. .
Reddit additionally introduced assist for the Rabbids NFT Assortment from gaming large Ubisoft. Following the announcement, Redditors can declare free Rabbids NFT avatars to make use of on their profiles on the platform.
