Reddit Avatar Why NFTs Have Taken the Crypto Market by Storm

Reddit Avatar NFTs, to everyone’s amazement, have more wallets than OpenC. How did they manage to storm the market?

Reddit is a well-known social networking platform with over 52 million Daily Active Users (DAUs). It has features to classify topics as subreddits, and users can show their opinion by upvoting or downvoting other users’ posts.

Reddit has added over three million users to non-fungible tokens (NFTs). The number of wallets on the Reddit marketplace has surpassed the likes of OpenSea. The Reddit NFT marketplace operates on the Polygon Network.

Reddit Avatar NFT has taken the market by storm

At the time of writing, two of Reddit’s collections have placed themselves on OpenSea’s top 10 list. The spooky season of poieeeeee has outperformed the Ethereum Name Service collection based on cryptocurrency and volume. The volume of Spooky Season is almost twice the volume of Cryptopunks. The highest asking price of Spooky Season is 750 ETH which is Midas Touch #83. is equal to approximately $1 million for

While another collection from Reddit, The Sense, is ranked 9th with a volume of 146 ETH. The highest asking price is 150 ETH which is The Hands #1. is equal to approximately $223,054 for

Source: OpenC

Why is there such a huge demand for Reddit Avatar NFTs?

The high demand for NFTs is causing the prices to skyrocket. Reddit enlisted non-Web3 users in the NFT by avoiding crypto jargon and using a complex interface to onboard users.

Avatars could only be purchased through fiat currencies. according to twitter the user“Non-web3 users didn’t have to worry about buying ETH or Matic on cryptocurrency exchanges.” This significantly helped Reddit get non-Web3 users to buy their NFTs and eventually led to a surge in demand.

Mass adoption of NFTs

Given Reddit’s huge DAUs, the numbers are still low. Unique Reddit Avatar NFT Holders less than 0.1% of Reddit’s DAU. There is still a lot of room to grow. However, Reddit definitely took a successful first step Web3 led to mass adoption and set an example for other Web2 companies.

Reddit partnered with Polygon because it offers low gas charges. For similar reasons, several other Web2 companies have partnered with Polygon. Starbucks, Adidas, Adobe, Meta, and The Walt Disney Company are just a few other notable Web2 companies that can incorporate and mass adoption of users into Web3 using Polygon.

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