The world of non-fungible tokens (NFTs) continues to thrive, with the latest milestone being reached by Polygon-based Gen 3 Reddit NFTs. These unique digital avatars, which were recently launched on the popular social media news aggregator, Reddit, have already seen impressive success in terms of sales and trading volume.
Since their launch, the Gen 3 Reddit avatars have recorded a total of 153K mints by 79K minters, with a trading volume of $750K from 4,151 sales, averaging $181 per sale. The top-selling Gen 3 avatar was a part of the Rojom collection, which sold for an impressive $2,861. In fact, 18 out of the top 20 Gen 3 sales were from the Rojom collection, with the remaining two from Sys32Template and prguitarman.
The entire Reddit Collectible avatars, including both Gen 2 and Gen 3, have also seen significant success, with a 24-hour volume of $319K from 2,850 sales. In total, the avatars have surpassed $15M in volume from 132K sales, averaging $114 per sale. Currently, there are 11.1M Reddit Collectible Avatars in existence, with a total market cap of $74.5M.
The success of the Polygon-based Gen 3 Reddit NFTs comes on the heels of Reddit’s announcement on April 6 that more collectible avatars will be released in the coming week. According to a post published on the platform, Reddit has already confirmed 66 creators for this upcoming drop. This follows the success of previous drops, including the Super Bowl collectibles edition, which built on the momentum from last year’s July drop and the Halloween drop in October.
Polygon has been making waves in the NFT space with several notable developments in recent months. On April 9th, the y00ts on Polygon NFT collection recorded over $5M in volume from 1,114 sales. In addition, Polygon teamed up with Nexon to launch a new NFT game called MapleStory Universe on March 22nd. Furthermore, Polygon and Unstoppable Domains jointly launched the .polygon Web3 Domain Service on March 14th. Additionally, Saudi Arabia’s first licensed NFT marketplace has received backing from Animoca Brands and Polygon, further showcasing the growing influence of Polygon in the NFT ecosystem.
With the success of Polygon-based Gen 3 Reddit NFTs and the growing adoption of Polygon in the NFT space, it is evident that blockchain technology and digital assets are continuing to gain traction as a significant force in the world of art, collectibles, and virtual economies. As more creators and collectors embrace the possibilities offered by NFTs, the landscape of the digital art and collectibles market is expected to evolve further, creating new opportunities and challenges for the industry as a whole.
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