Reddit's NFT Avatars Edges on 10 Million Holders in Under 12 Months
May 29, 2023
After an impressive run since its launch in July 2022, the popular social platform Reddit is on the brink of surpassing a significant milestone of 10 million holders of its unique digital avatars known as "Reddit NFTs." This achievement cements Reddit's NFT collection as one of the largest and most renowned in the market.
Reddit's NFT collection has garnered widespread recognition and global appeal, earning substantial acclaim within the NFT community and beyond. According to data from Dune Analytics, the current count of Reddit collectible avatar holders is approximately 9,909,465 million.
Among these holders, around 7.7 million falls into the category of single collective avatar holders, indicating users who possess a single avatar and do not employ multiple wallets for their holdings. This information provides insights into the distribution and ownership patterns within Reddit's collectible avatar community.
The platform initially launched its NFT collectible avatars on the Ethereum Layer 2 scaling network, Polygon. These unique NFTs allow users to personalize their avatars with designs created by independent artists and Reddit content creators.
Polygon co-founder, Sandeep Nailwal, recently conducted an Ask-Me-Anything (AMA) session on Reddit and praised the platform for successfully "cracking the code" when it comes to NFT adoption, specifically referring to Reddit's Collectible Avatars.
This initiative not only provides a platform for artists to showcase their work but also enables Reddit users to express their individuality and actively participate in the personalized realm of the NFT ecosystem.
In similar news, Reddit announced its partnership with Ubisoft's Rabbids NFT collection on May 26. Redditors now have the opportunity to claim complimentary Rabbids NFT avatars for their profiles on the platform. The availability of these avatars has generated immense interest among users, leading to a rapid acquisition of NFTs.
The Rabbids franchise initially emerged as a spin-off video game from the Rayman series, titled "Rayman Raving Rabbids," released in 2006. Ubisoft, as a prominent video game publisher, has been at the forefront of NFT integration, becoming the first to introduce in-game NFT items in December 2021.
Expanding their NFT offerings, Ubisoft launched the Rabbids NFT avatar collection in February, specifically tailored for The Sandbox, a metaverse game.
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