Quick take:
- Reddit minted 4 million NFTs between December 12 and February 7.
- The company now boasts more than 9 million NFT avatars, all minted on Polygon.
- Reddit also saw multiple NFT avatar holders increase from 306k to 1.789 million in under two months.
Reddit just added a whopping 4 million newly minted NFT avatars in under two months. The social news aggregator platform has been one of the biggest success stories among mainstream brands that have forayed into the ‘wild west’ of NFTs.
According to Dune Analytics data, Reddit had more than 9 million NFTs avatars as of February 7, all minted on the Layer 2 Ethereum scaling blockchain Polygon. In our previous report published on December 12, 2022, Reddit had just over 5 million collectible avatars.
That was not the only interesting stat to pick from Reddit’s latest numbers. The company also registered a significant increase in the number of multiple NFT avatar holders, who rose to 1.789 million up from about 306k two months ago.
On the other hand, single NFT holders increased by 563k to about 4.5 million, with the total NFT holders rising to about 6.3 million from 4.2 million.
Reddit’s massive NFT mint over the past two months comes ahead of the company’s upcoming NFT offer in collaboration with the National Football League (NFL). The company announced Super Bowl-themed NFTs for the two finalists competing for the trophy.
The custom-designed football avatars dress in the colours of the Kansas City Chiefs and Philadelphia Eagles. This allows NFL Redditors to show their support in the app.
The company has minted 500 thousand limited-edition Super Bowl LVII Collectible Avatars, which went live on February 6. Each fan will have an opportunity to choose one free avatar NFT before the Super Bowl event on February 13.
Reddit registered the highest number of NFTs minted in a single day on December 16, 2022, with 479,878 mints. The Super Bowl-driven mint is currently holding the second spot with 312,513 NFTs minted on February 7, as of this writing.
According to Reddit, the community-driven news aggregator platform’s r/NFL registers approximately 195 million monthly views. The company also claims Super Bowl mentions on the app increased by 32% in 2022 compared to 2021. Reddit’s success story dates back to October last year when its NFT avatars managed to generate more than $10 million in sales, barely three months after launch.
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