Reddit Collectible Avatars NFTs are likely to hoard 10 million holders soon
Recently, Reddit reported the NFT collection called “Reddit collective avatars” to be ready to reach the milestone of 10 million holders soon. The insight into the level to be met soon comes from the growth of the NFT collection, especially in recent months. Reddit NFTs appear to be mimicking the growth of the prominent social media platform.
Dune Analytics data shows the number of Reddit avatars accumulating at 9,909,465. It also reveals that around 7.65 million NFT holders were individual collective avatar holders. This indicates that such users do not have multiple wallets.
Reddit’s collective avatar NFT collection launched last July. Within a year of completion, the collection is set to reach 10 million NFT holders. Independent artists and content creators across the social media platform designed the customizable NFT collections. Currently, the total market cap of available non-fungible tokens is $38.44 million.
The number of holders saved over the platform since its launch and continued until November when it reached 3 million users. For some time the growth stopped at that point and with the start of the new year it witnessed the increase again.
The broader non-fungible market faced tremors despite the crypto market starting to pick up again with the start of 2023. Unlike the original NFT sector, Reddit collectible avatars have seen an 80% jump in the last few months of the current year. The number of wallets, data suggests, tripled in the last six months.
There were 303,033 sales resulting in the accumulation of $32.6 million in sales volume.
In the list of some well-performing assets in the digital art space, Bitcoin-based NFTs also did significantly well. Space pepes, Bitcoin Frogs and $Ordi BRC-20 NFTs etc. were among the leading digital artworks.
Bitcoin NFTs lead the market
Coin Republic previously reported that the Bitcoin blockchain network is booming when it comes to NFTs, beating the already successful ones like Solana.
NFT data aggregator, Cryptoslam, shows that the Bitcoin (BTC) network is the leader in terms of NFT sales volume, just behind Ethereum (ETH), in the last 30 days.
The Cryptoslam dashboard also shows Bitcoin-based digital art collectibles that hold top positions in terms of sales volume in the last 30 days. $ORDI BRC-20 NFTs recorded total sales of USD 40.39 million after seeing an increase of over 67%. The collection beats Ethereum based one of the popular digital art collectibles Bored Ape Yacht Club (BAYC).
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
