Reddit NFTs Surpass 10 Million Users as Adoption Soars
The US-based social news platform Reddit, launched its highly anticipated NFT marketplace in July 2022 . Since then, Reddit NFTs have seen an impressive surge in adoption, with the number of the users nearly passing 10 million mark .
The US-based social news platform Reddit, launched its highly anticipated NFT marketplace in July 2022 . Since then, Reddit NFTs have seen an impressive surge in adoption, with the number of the users nearly passing 10 million mark .
Steady Growth and Tripling User Base in Six Months
Data from Dune Analytics reveals that there are currently 9,909,465 Reddit collection avatar owners . The marketplace which is built on the Ethereum scaling network Polygon , presents the users with customizable NFT avatars crafted by independent artists and Reddit creators .
Following the launch of the collection , the number of avatar owners has seen a notable increase . By November , it already reached approximately 3 million users . In the first half of 2023 , Reddit also experienced significant growth by tripling its user base in just six months .
Expanding Market Cap and Collaboration with Ubisoft
Since the beginning of 2023 , the number of Reddit avatar owners has grown by 80%. The Reddit Collectible Avatars now boast a market cap of $38.4 million with a staggering collection of 13 .7 million NFT avatars .
In addition to the rapid and impressive user growth, Reddit is strongly looking into NFT career opportunities . Reddit users are able to request free Rabbids NFT avatars for their profiles thanks to the platforms recent message of support for the Rabbids NFT collection from Ubisoft . The Rabbids are a character from the Rayman video game series . December 2021 , Ubisoft made a history in the gaming world by including NFT features. They introduced the Rabbids NFT avatar collection in February for The Sandbox, which is a well-liked Metaverse game .
As Reddit keeps on building partnerships and broaden its NFT ecosystem , the platform solidifies its position as a significant player in the NFT market by being in touch with the growing demand for digital collectibles among its millions of users .
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