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Reddit's Collectible Avatars NFTs Nears 10 Million Holders, Cementing Influence in the Market

Exponential Growth and Strong Secondary Market Presence Highlight Success of Reddit's Digital Token Collection

Tue, 30 May 2023, 02:22 am UTC

Sailing steadily towards a significant milestone, Reddit's unique collection of digital tokens, known as Collectible Avatars NFTs, is on the brink of reaching an impressive 10 million holders. This achievement marks a pivotal point in their journey, considering the collection was only launched in the summer of 2022.

This remarkable feat is not just another accolade to add to their growing list. It is proof of their burgeoning influence in the non-fungible tokens (NFT) market, where they have risen to become one of the most recognized and significant collections globally.

While the collection may have reached its peak in popularity during the winter months of 2022 and the beginning of 2023, the appeal of these digital assets remains undeniably strong. With total sales volumes reaching approximately $32.7 million and total sales surpassing 300,000, the collection continues to thrive.

The success story of Reddit's Collectible Avatars is a testament to the immense potential of NFTs on large social media platforms. The numbers speak for themselves, as the collection has witnessed exponential growth since its inception.

In a recent AMA session on Reddit, Sandeep Nailwal, co-founder of Polygon, a prominent figure in the crypto realm, commended Reddit for successfully cracking the code of NFT acceptance. His praise centered around Reddit's successful implementation of these Collectible Avatars.

With nearly 10 million unique users engaging with these avatars, these NFTs have also found a strong presence in the secondary markets, supported by the Polygon network.

Turning to the current state of the NFT market in 2023, it is noteworthy to mention that these digital assets have not lost their allure, despite being at their lowest price points. They continue to attract buyers who are keen on taking advantage of favorable prices. The presence of bargain hunters has kept the market alive and buzzing, proving that the appeal of NFTs extends beyond their monetary value and lies significantly in their uniqueness and digital permanence.

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