SNEAK PEEK
- Reddit has 6 million different owners of its polygonal NFT avatars.
- About 4,700 NFTs traded on Reddit have generated $1.95 million in revenue.
- Reddit makes it simple to interact with individuals from across the world whose interests are similar.
On January 17, 2023, Kyle Reidhead stated that Reddit has reached 6 million distinct owners of their avatar NFTs on Polygon. It is unquestionably the most widespread use of NFTs they have ever witnessed, yet nobody appears to be commenting about it.
Guys, @Reddit is about to hit 6 MILLION unique holders of their Avatar NFTs on @0xPolygon
— Kylereidhead.eth 👀🔛⛓️ (@KyleReidhead) January 16, 2023
This is by far the biggest adoption of NFTs we’ve ever seen and no one seems to be talking about it…
Are any of you seeing this post Reddit users that has minted one of these? pic.twitter.com/BoEBXXcAp9
Over 4,700 NFTs sold on Reddit have earned approximately $1.95 million in sales. Some of the avatars were expensive NFTs bought from the website, with set prices ranging from $10 to $100. According to Reddit Floor statistics, over 86,000 NFTs were traded to members, with a combined market cap (or worth) of approximately $100 million.
An NFT is a blockchain asset that signifies the proprietorship of a one-of-a-kind item such as avatars or profile photographs (PFPs), virtual artwork, or video game goods.
Reddit is a global media site and community where information is socially vetted and marketed by the voting of online users. Reddit membership is free and necessary to access the site’s basic functions. Reddit makes it simple to connect with people from all around the world based on mutual interests or items in common.
Polygon is a “layer 2” scalability mechanism that runs parallel to the Ethereum blockchain, enabling fast transactions with minimal costs. Polygon (MATIC) is a cryptocurrency and software platform built to link and build Ethereum-compatible applications and blockchain-based systems. MATIC coins are employed to manage and protect the Polygon system, as well as to collect transaction fees. MATIC coins may be purchased on platforms like Coinbase or Kraken.
