Reddit Collectible Avatars NFTs nearly reached 10 million NFTs holders, a new major milestone for the collection. The milestone is a culmination of ever-increasing adoption since its launch in July 2022.
The milestone is another feather in the cap for the NFT collection, which has become one of the biggest NFT collections on the market and certainly one of the most well-known worldwide.
Reddit Collectible Avatars Skyrockets
The Collectible Avatars have a total market cap of $38.4 million, with 13.7 million avatars. The number of total holders is 9.9 million, which is the highest it has ever been.
The collection isn’t quite at its peak, with the most mints coming in December 2022 and January 2023, but the fact remains that the collection is showing a good deal of popularity in the market. The total sales volume of the collection is $32.68 million, with cumulative sales volume topping 303,000.
The Reddit Collectible Avatars appear to be proof that a collection on a major social media platform can have long-lasting and impactful impressions. As evidenced by the figures above, the collection has seen considerable growth since its launch in July 2022.
Ubisoft Rabbids NFTs Launches on Reddit
Reddit’s Collectible Avatars, despite their popularity, are being helped by an NFT collection released on its platform: Ubisoft Rabbit NFTs. The latter, which contains NFTs relating to an IP by game developer and publisher Ubisoft, are available as Polygon NFTs on Reddit.
Rabbids are characters from one of Ubisoft’s franchises. NFTs from this collection were available as a free mint, which likely contributed greatly to the popularity of the collection.
Sandeep Nailwal Says Reddit ‘Cracked the Code’ for NFTs
Polygon co-founder Sandeep Nailwal is a well-known figure in the crypto community and was in the spotlight recently after he hosted an AMA session on Reddit. In that AMA, the co-founder said that Reddit was the only platform that “cracked the code” for NFT adoption, referring to Reddit’s Collectible Avatars.
The nearly 10 million users that use the avatars have also led to the NFTs trading well on secondary markets. The NFTs run on the Polygon network.
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