According to the Dune analytical platform, on Saturday. On December 3rd, 225,000 non-fungible tokens (NFTs) were issued on the Reddit platform. This is more than the record 200,000 collectible tokens issued on August 30 and 31.
The total number of Reddit-NFTs issued on the basis of Polygon has reached 4.4 million tokens. Used as avatars on a social media platform, digital items have been cited as an example of a successful NFT implementation.
At the same time, the social network has made every effort to distance itself from crypto assets as such, calling its product a digital collectible. Finished works are sold at a fixed price, rather than being auctioned as NFTs. And they are sold only for fiat currency.
Some digital collectibles have been resold on NFT marketplaces such as OpenSea and their floor prices have skyrocketed on the platforms’ auctions. Therefore, most collectors prefer to purchase NFTs on Reddit at low prices. In total, there were about 40,000 NFT sales from Reddit. A total of several million tokens have been issued. Over 3.4 million Reddit users own just one collectible.
Reddit collaborates with independent artists to release its collections. The largest number of digital items were released during the launch of five collections: The Singularity (98,000), Aww Friends (57,000), Meme Team (39,000), Reddit Cup 2022 (34,000) and Drip Squad (28,000).
In October, the trading volume of Reddit collectible avatars increased by 799% per day in just a day.
Source: Bits
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