In short: The Reddit Collectible Avatars, launched in July 2022 on Ethereum's Polygon, now have more than 10 million holders of its collectible avatars according to Dune Analytics. Of these holders, 7.7 million have only one avatar, with the number of wallets tripling to 13.7 million since January 2023. Since the beginning of 2023, the total number of Reddit NFT holders has surged by 80%, with the total market cap of Reddit Collectible Avatars at $38.4m. Reddit has successfully introduced NFTs called Collectible Avatars to its mainstream audience.
Our quick analysis:
Who knew owning a virtual plunger could be so popular? Or that collecting Rabbids NFT avatars on Reddit would be the latest craze? Well, with over 10 million users now hooked on the platform's Collectible Avatars, it's clear that Reddit has cracked the NFT code - and in some unpredictable ways!
Since launching last year on Polygon, the platform's NFTs have seen explosive growth, with wallet numbers tripling in the last six months alone. And while there have been some botting issues, users can't get enough of these quirky avatars that add a little personality to their social media profiles.
But it's not just plungers and Rabbids that have users flocking to the platform. Each avatar is unique, designed by independent artists and Reddit content creators, making them truly one-of-a-kind. And with a total market cap of $38.4 million, there's clearly a demand for creative, customizable NFTs that add a little flair to our internet identities.
While there's still room for improvement - as suggested by Polygon co-founder Sandeep Nainwal's ideas for a secondary marketplace and artist launchpad - there's no denying that Reddit Collectible Avatars have found a way to bring NFTs to a wider audience and make them fun in the process.
So, whether you're collecting plungers or Rabbids, or just looking for a unique way to express yourself online, Reddit's got you covered. Who knows what other unpredictable avatars will pop up next? The possibilities are endless!
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Who knew owning a virtual plunger could be so popular? Or that collecting Rabbids NFT avatars on Reddit would be the latest craze? Well, with over 10 million users now hooked on the platform's Collectible Avatars, it's clear that Reddit has cracked the NFT code - and in some unpredictable ways!
Since launching last year on Polygon, the platform's NFTs have seen explosive growth, with wallet numbers tripling in the last six months alone. And while there have been some botting issues, users can't get enough of these quirky avatars that add a little personality to their social media profiles.
But it's not just plungers and Rabbids that have users flocking to the platform. Each avatar is unique, designed by independent artists and Reddit content creators, making them truly one-of-a-kind. And with a total market cap of $38.4 million, there's clearly a demand for creative, customizable NFTs that add a little flair to our internet identities.
While there's still room for improvement - as suggested by Polygon co-founder Sandeep Nainwal's ideas for a secondary marketplace and artist launchpad - there's no denying that Reddit Collectible Avatars have found a way to bring NFTs to a wider audience and make them fun in the process.
So, whether you're collecting plungers or Rabbids, or just looking for a unique way to express yourself online, Reddit's got you covered. Who knows what other unpredictable avatars will pop up next? The possibilities are endless!
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
0 Comments
Please, behave!