Reddit’s Collectible Avatars on 0xPolygon Surpass 20 Million
Despite the recent slowdown in the non-fungible tokens (NFTs) market, Reddit’s Collectible Avatars on the 0xPolygon platform have exceeded 20 million.
Key Points:
– More than 20 million Reddit Collectible Avatars have been minted since the collection’s launch in 2022.
– There are 16.1 million unique wallets holding the NFTs, with over 2.2 million having multiple avatars.
– In just over two months, over 6 million new NFTs have been minted and a similar number of unique wallets have been added to the community.
– The release of the Gen 4 collection on July 27 boosted the number of avatar holders, with Gen 3 generating sales transactions of over $3.4 million.
– The collection, titled “Retro Reimagined,” had limited edition releases priced between $4.99 and $199.99 each.
The Gen 4 collection has helped support the Polygon ecosystem after the departure of Y00ts, its leading NFT project, to Ethereum. The collection has recorded cumulative transaction volumes exceeding $40 million as of August 13.
Polygon’s NFT marketplace has seen transactions worth over $13.2 million in the last 30 days, with August 9 recording the highest single-day volume at over $830,000. About 53% of the trading occurred on OpenSea, 29% on Dew, 6.1% on Rarible, and 5.3% on MagicEden. Additionally, the Polygon-based NFT marketplaces had nearly 6,000 daily active users over the last 30 days, with July 23 being the busiest day, registering 21,600 users.
Hot Take
Despite the recent slowdown in the NFT market, Reddit’s Collectible Avatars on the 0xPolygon platform have shown impressive growth, surpassing 20 million. The Gen 4 collection has contributed significantly to this growth, generating sales transactions of over $3.4 million. The Polygon ecosystem has benefited from this success, especially after the departure of the leading NFT project, Y00ts, to Ethereum. With a cumulative transaction volume of over $40 million and a high level of daily active users, the future of Reddit’s Collectible Avatars on 0xPolygon looks promising.
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