- There are at the moment 9,909,465 Reddit collectible avatar holders.
- Of those, 7,650,072 are individually collectible avatar holders.
- Reddit NFT was launched in 2022. July.
In keeping with knowledge revealed by Dune, a month or yr after the launch of Reddit Collectible Avatars, homeowners of Reddit Collectible Avatars are 90,535 shy of reaching 10 million.
Apparently, most present Reddit NFT holders solely have one avatar, that means they do not have a number of wallets.
Reddit’s collectible avatars
Reddit Avatars have been launched in 2022. in July, when social media platform Reddit launched a market for collectible avatars on Ethereum’s scalable community, Polygon. Reddit content material creators and impartial artists create avatars for the gathering.
The avatar assortment grew within the first few months after launch, and in 2022. reached a plateau in November the place there have been about 3 million Nonetheless, in 2023 utilization has soared and holders have greater than tripled prior to now six months.
Moreover, the holders boosted Reddit Collectible Avatars’ market capitalization to $38.4 million. In whole, there are 13.7 million NFT avatars within the Reddit assortment.
In keeping with Dune’s evaluation, greater than 303,000 copies have been offered because the introduction of avatars.
Nonetheless, the good efficiency was not with out issues. In Might of this yr, a Redditor going by the title ContextMelodic4212 recommended that bots could also be accountable for the rise in NFT exercise on Reddit. He mentioned:
“Truly, there are some points right here and there with some Avatars being groped or knocked off, it’s miles from excellent. However I can not consider a greater case for this know-how!
However the problem with bots hasn’t gotten a lot consideration, and through a current AMA on the r/India subreddit, Polygon co-founder Sandeep Nailwal mentioned he is an enormous fan of Reddit’s avatars and recommended launching a secondary market and artist launchpad. . .
Reddit additionally introduced help for gaming big Ubisoft’s Rabbids NFT assortment. Following the announcement, Redditors can declare Rabbids NFT avatars free of charge use on their profiles on the platform.
