Quick take:
- Reddit plans to release the Gen 3 collectible avatars next week.
- The social news aggregator platform has already dropped multiple rounds of its collectible avatars since debuting last July.
- According to Dune Analytics, there are already more than 7.3 million Reddit Collectible Avatars holders.
Reddit is releasing more collectible avatars next week. The social media news aggregator has already confirmed 66 creators according to a post published on the platform last week.
This drop comes on the back of a successful Super Bowl collectibles edition, which built on the foundation laid during last year’s July drop and the Halloween drop in October.
According to a Dune Analytics dashboard prepared by Polygon Analytics, Reddit has sold more than 10.6 million collectibles, held by more than 7.3 million collectors.
The collectibles have now generated more than $74.5 million in sales, barely ten months after debuting on Polygon.
According to the analytics dashboard, February 7, 2023, delivered the highest number of mints in a single day of 507,857, driven by the Super Bowl drop.
Reddit first confirmed that the Gen 3 collectibles avatars were on the way just over two weeks ago, revealing that some artists were making their return following their participation in the previous offerings.
“So after long speculation, we’re finally being fed ‘leaks’ which announce Generation 3! We don’t know when but we at least know it’s real!!,” a post on the platform published on March 20th reads.
“We already knew some artists were joining but now we get to see some artists announcing their return or that they’re joining.”
Reddit collectible avatars have played a crucial role in onboarding new users to the world of non-fungible tokens (NFTs). As a result, the Polygon Protocol has witnessed a significant rise in NFT activity.
In February, Reddit added 4 million new collectibles building on the success of the preceding three months. In December 2022, 1.3 million Polygon NFTs were sold on OpenSea, and in January, the Layer 2 ethereum scaling protocol was averaging 3 million NFT transactions in a day.
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