Reddit Collectible Avatars holders approaching 10M 11 months after launch

Do repost and rate:

With a month to a year since its launch, the Reddit Collectible Avatars holders are 90,535 shy of hitting the 10 million milestone according to data revealed by Dune.

Interestingly, the majority of the current Reddit NFTs holders only hold one avatar, meaning they do not have multiple wallets.

The Reddit Collectible Avatars

The Reddit Avatars were launched in July 2022 after social media platform Reddit launched a collectible avatar marketplace on the Ethereum scaling network . Reddit content creators and independent artists design the avatars in the collection.

The collection of the avatars surged in the first few months after the launch before reaching a plateau in November 2022 where there when about 3 million holders. The uptake has however picked up in 2023 with the holders more than tripling in the last six months.

Source: Dune Analytics


Besides the holders increasing the Reddit Collectible Avatars market capitalization has risen to $38.4 million. In total, there are 13.7 million NFT avatars in the Reddit collection.

Since the avatars were launched, there have been over 303k sales worth $32.6 million according to the Dune analysis.

However, the splendid performance has not come without issues. In May this year, a Redditor referred to by the name “ContextMelodic4212” on the platform insinuated the likelihood of bots being responsible for the surge in the Reddit NFTs activity. He said:

“Actually there are some issues here and there with Avatars getting scooped or botted by some, it’s far from being perfect. However, I can’t think of a better use case for this technology!”

However, the issue with bots did not cause much attention and during a recent AMA with the r/India subreddit, Polygon co-founder Sandeep Nailwal stated that he was a great fan of the Reddit avatars and suggested launching a secondary marketplace and an artist Launchpad.

Reddit has also announced support for the gaming giant Ubisoft’s Rabbids NFT collection. following the announcement, Redditors can claim Rabbids NFT avatars for free to use on their profiles on the platform.

Share this article
Surveys and Reports

Regulation and Society adoption


Ждем новостей

Нет новых страниц

Следующая новость