Top 5 Reddit Avatar Collections Driving the Most Recent NFT Market Surge
The most recent collection of Reddit Avatars, which are quite popular, are distinct from the first four artistic renditions of the site's Snoo, which have been known to sell for as much as 234,000 USD (or 175 ETH). This recent uptick may largely be attributed to the accomplishments of Reddit's Avatar Builder, not to mention the unsigned artists and well-known talent that the firm collaborated with on its several groundbreaking collections. In this article, we will provide you with information regarding the Top 5 Reddit Avatar Collections.
What are Reddit Avatar Collections?
Reddit Collectible Avatars are non-fungible collections that Reddit produces in collaboration with various independent artists and then AirDrops to members of Reddit. More than 60,000 USD in royalties have been collected by artists as a result of the sale of NFT on the secondary market.
Currently, Reddit has already sold and distributed the Airdrop for two phases: phase 1, which includes 33 collections, and phase 2, which includes 27 collections called Spooky Season. A total of sixty sets in all.
The Cryptosnoos mascot was the first item in the Reddit Avatar collection, and it was made available in June of 2021.
Highlighted Metrics of Reddit Avatar Collections
According to data from Polygon and Dunn Analytics, the NFT Reddit trade volume hit $1.5 million on October 24. This is one-third of the collection's total trading volume since its inception in July.
Moreover, NFT Reddit's daily revenue has reached an all-time high (ATH) of 3,780 collections.
Independent artists and Mint produce Reddit avatars in the form of NFT on the Polygon blockchain. These collections are available for purchase on Vault, Reddit's cryptocurrency wallet. After that, users will be able to display an NFT avatar while publishing material to Reddit.
After purchasing NFT from Vault, NFT can be traded on secondary marketplaces such as OpenSEA. While some collections are not well-received, several floor-priced sets exceed $2,000 USD. Currently, the maximum price for an NFT Reddit is 18 ETH (24,149 USD).
Reddit has more NFT wallets than OpenSea.
Since its inception, more than 2.9 million Reddit avatars have been Minted. Reddit's number of NFT wallets has notably surpassed that of OpenSea.
Pali Bhat, the Product Manager of Reddit, stated that more than 3 million Reddit users used the platform's Vault wallet, with 2.5 million of those users using the NFT wallet as an avatar.
OpenSea, is the leading NFT marketplace in the world, with over 2.2 million wallets. The strong community strength has aided Reddit's NFT wallet in gaining 3 million users.
Despite not knowing much about NFT or cryptocurrency, some people nevertheless purchase NFT Reddit because they adore their advocates.
Why is Reddit Avatar Collections Hot?
The use of NFT PFP is becoming increasingly popular as more Reddit Avatar collections are released. People will use the NFT as more avatars on the web3 space instead of regular avatars. As a result, the PFP NFT market in particular, and NFT in general, are constantly evolving, and Reddit Avatar has exceeded the NFT community's expectations.
Top 5 Reddit Avatar Collections
These are top 5 Reddit Avatar collections that you should know.
Spooky Season: poieeeyee
Spooky Season: poieeeyee x Reddit Collectible Avatars is a collection that was launched during the spooky season of 2022 and has Halloween-themed collectibles.The supply of Spooky Season: poieeeyee x Reddit Collectible Avatars are 1,814 NFTs. This single collection, which was made by the user poieeeyee, has become the most successful of all Reddit Avatars, despite the fact that the odds were stacked against it. The collection swiftly claimed the number-one spot on OpenSea's Top 10 list by 24-hour trade volume shortly after it was made available to the public. Its sales volume was approximately double that of any other Reddit Avatars release during that time period.
On July 7, 2022, The Senses was introduced to the public with a total supply of 1,302 NFTs. The collection includes three unique NFTs, each with a horror-based design and illustrating one of the three human senses: taste, sight, and touch. Despite the fact that Rojom's Spooky Season collection (included further down on our list) was designed specifically for Halloween, the pictures from The Senses are without a doubt on par with the most unsettling sci-fi monsters.
One of the most popular non-fiction trading card collections on Reddit is called Foustlings x Reddit Collectible Avatars. This collection is very similar to The Senses. Since its publication in July 2022, the collection has lasted the test of time. It was designed in partnership with Redditor Tyler Foust, and of course, it includes Snoos that are imbued with Foust's trademark vivid squiggly line style.
Spooky Season: Rojom
The Halloween-themed Rojom x Reddit Collectible Avatars were made available for purchase in October 2022, just in time for the holiday. The total number of NFTs available is 1,603. Redditor Rojom has accomplished a lot by securing the second and fourth ranks on the list of the most prominent projects in terms of sales volume. This is especially impressive when one considers the numerous avatar collections that are now accessible inside the Reddit NFT ecosystem.
Wearing Your Emotions
Reddit user StutterVoid is the one who came up with the idea for the Wearing Your Emotions x Reddit Collectible Avatars collaboration. In response to a question posed by a user, Stutter explained that the inspiration behind the collection came from a concept that the brand had been developing for a number of years. According to Stutter, the idea behind the collection was to display one's feelings with pride to the outside world. Despite the fact that Stutter went on to develop a Spooky Season collection, Wearing Your Emotions is still the product that has brought in the most revenue for the company.
That is all about the top 5 Reddit Avatar Collections. Hopefully, the article will bring more valuable information for you. If you want to learn more about the project, you can access the links below.
FQAs - Top 5 Reddit Avatar Collections
So where can I buy these Reddit NFTs?
Initially, Reddit's NFT avatars were available for purchase on the site's Avatar Marketplace. Although they are no longer available on the site, avatars from the initial drop are still available on secondary NFT marketplaces such as OpenSea.
Who is behind Reddit Avatar Collections?
It is Reddit company. Reddit is dabbling in the digital collectibles craze. One of the site's first forays into blockchain-based technology is a new take on NFTs with collectible avatars. Avatars are created by artists (many of whom are, naturally, also Redditors).
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