Social platform Reddit is about to hit the 10 million mark with collectible profile picture owners, aka “Reddit NFT,” nearly 11 months after launching in July 2022.
According to Dune Analytics, there are a total of 9,909,465 million people with collectible avatars on Reddit. About 7.7 million of these were identified as sole avatar owners or those without multiple wallets.
Profile photo of Reddit collection – Source: Reddit
Reddit launched collectible avatar marketplace on Ethereum scaling network, Polygon, in July 2022. NFT in customizable collectibles designed by independent artists and creators Reddit content.
The number of avatar holders increased after the launch of the collection but stabilized at around 3 million in November. However, there was a tremendous growth in 2023 in the number of wallets. tripled in the past six months.
Since the beginning of 2023, the number of people owning a Reddit avatar has increased by 80%. The market capitalization of Reddit Collectible Avatars is $38.4 million and there are 13.7 million NFT avatars in the collection.
Furthermore, there were 303,033 total sales with a total value of $32.6 million, according to the data.