May 30, 2023

Reddit NFTs Holders Exceed 10 Million

Reddit NFTs

Reddit NFTs

More than 10 million users have Reddit NFTs on Polygon, an Ethereum sidechain, according to data aggregated from Dune Analytics.

The data showed that the total collectible avatar holders of Reddit NFTs are 10,004,124 at the time of writing. Of these holders, there are over 7.73 million single collective avatar holders. These holders have a single avatar and do not use multiple wallet addresses. The Reddit NFTs are designed by independent content creators and artists within the Reddit community, according to Crypto News.

It is worth noting that the number of avatar holders had remarkably increased in 2023 as the count of Reddit NFTs holders recorded an 80% increase this year, however, it was around three million holders only in November. The number of wallets also tripled over the past six months.

Currently, the market capitalization of Reddit NFTs is $45,879,805, with a collection of 13,868,595 NFT avatars.

In this regard, Polygon Co-founder Sandeep Nailwal, during an Ask-Me-Anything (AMA) session, lauded the success of Reddit NFTs on Polygon, saying: “The company cracked the NFT code and they are able to drive a lot of engagement with Reddit NFTs.”

He pointed out that he considers having a secondary marketplace to trade those NFTs or having a launchpad for artists to launch their collections, which could be great additions to take Reddit NFTs to the next level.

Polygon is a blockchain platform that provides fast and low-cost blockchains for application builders to build decentralized applications. It is built as a Layer2 blockchain ecosystem on top of Ethereum.

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