There are currently a total of 9,909,465 million holders for Reddit collectible avatars aka Reddit NFTs.
Within 11 months of its launch in July 2022, Reddit collectible avatars have seen massive traction with over 10 million holders of their collectible avatars.
According to statistics From Dune Analytics, there are currently 9,909,465 million total holders for Reddit collectible avatars aka Reddit NFTs. Out of them 7.7 million holders have been identified as single collective avatar holders. These are holders who do not have more than one wallet.
That said, last year in July 2022, Reddit launched a collectible avatar marketplace EthereumLayer-2 Scalability of Platform Polygon. All nft Designed by independent artists as well as Reddit content creators within customizable collections.
Reddit has successfully introduced its polygon-based NFTs called collectible avatars. It also allows users to showcase diverse avatars on social media platforms, a significant achievement in bringing NFTs to their mainstream audiences.
After the launch of Reddit NFTs, avatar holders grew exponentially. However, soon as of November 2022, the total number of avatar holders reached 3 million. Also, this year 2023, there has been a huge growth with the total number of wallets tripling in the last six months.
Reddit NFT Holders Surge
The total number of Reddit NFT holders has increased by 80% since the beginning of 2023. Currently, there are a total of 13.7 million NFT avatars in the collection, and the total market capitalization of Reddit collectible avatars has grown to $38.4 million.
In addition, the data shows that there have been 303,033 total sales of Reddit NFTs, with the cumulative sales volume reaching $32.6 million. On Sunday, May 28, popular Redditor “ContextMelodic4212” congratulated the platform on the achievement but added that bot activity may be partially responsible for the growth. Redditor couple,
“There are actually some issues here and there with avatars being scooped or botched by some people, it’s far from perfect. However, I can’t think of a better use case for this technology!”
Last week, social media platform Reddit also announced support for gaming giant Ubisoft’s Rabbids NFT collection. Redditors all started claiming free Rabbids NFT avatars for their profiles on the platform.
Who knew what a plunger was needed for your avatar? 🪠 In partnership with Ubisoft, we’re bringing @RabbidsOfficial To Reddit! get your bunnies #RedditCollectibles Now.https://t.co/e81Zn0Yr6S pic.twitter.com/1lKFUU0rrJ
— Reddit (@Reddit) May 25, 2023
In 2006, Rabbids emerged as a spin-off video game from the Rayman series. In December 2021, Ubisoft became the first major publisher to introduce in-game NFT items. The Rabbids NFT avatar collection was launched later in February for the sandbox Metaverse game.
Last week, co-founder Sandeep Nainwal also said that he is a big fan of Reddit NFTs. He added:
“Reddit is probably the only well known Big Tech company that has cracked the NFT code and they have been able to drive a lot of engagement with Reddit NFTs.”
He also offered some suggestions, saying that a secondary market and an artist launchpad “could be some great additions to take Reddit NFTs to the next level.”
Bhushan is a FinTech enthusiast and has a great understanding of the financial markets. His interest in economics and finance drew his attention to the newly emerging blockchain technology and cryptocurrency markets. He is in the process of continuous learning and keeps motivating himself by sharing his acquired knowledge. In his spare time he reads thriller fiction novels and occasionally explores his culinary skills.
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