Data from Dune Analytics shows Reddit’s NFTs booming lately. In recent weeks, total sales of Reddit NFT collections topped $40 million. The number of Reddit NFT holders has also surged to over 16 million, a jump of over 2 million since late July. This demonstrates the tremendous growth in interest and activity around Reddit’s NFT offerings.
The market capitalization for Reddit’s NFTs has jumped to $94 million, representing a 92% increase from just 3 weeks ago when the market cap was around $49 million.
Dune Analytics also shows that the newest Gen 4 collection of Reddit NFTs has quickly gained traction, with nearly 13,000 holders and over $850,000 in primary sales volume. Over 200 Gen 4 sales have occurred in the last 24 hours totaling over $6,000.
Overall, data shows Reddit’s push into NFTs through avatar collectibles has seen tremendous growth in a short timeframe. Cumulative sales, holders, market capitalization, and trading activity have all risen substantially, highlighting the surging popularity of Reddit NFT collections.
The rapid growth of Reddit’s NFT collections on Polygon has caught the attention of Polygon founder Sandeep Nailwal. In a recent tweet, Nailwal highlighted the expanding Reddit NFT ecosystem on Polygon, noting that while the growth may seem slow, steady progress is being made.
Nailwal pointed out the increasing statistics, including the $40 million in cumulative sales, over 16 million holders, and market capitalization approaching $100 million. He remarked that these numbers signify the gradual but meaningful development of Reddit’s NFT presence on Polygon.
Even though it may appear sluggish and incremental from the outside, Nailwal emphasized that the systematic expansion of Reddit NFT adoption on Polygon is setting the foundation for long-term success. The steady gains in sales, users, and activity reflect the burgeoning potential of Reddit NFT communities leveraging Polygon’s infrastructure.
Nailwal remarked:
“Polygon ecosystem’s mainstream products are silently reaching ‘magic inflection points of growth, be it Reddit Avatars, DraftKings NFTs, or Nike dotSWOOSH. Many others lined up too. Soon AAA gaming too. Slowly but surely fam!”
In referring to AAA gaming, the Polygon founder was suggesting that the Reddit NFT ecosystem on Polygon stands poised for significant expansion. AAA games are big-budget, top-tier video game titles with high production values.
By bringing up AAA gaming, Nailwal was implying this ecosystem could soon see the launch of premium, cutting-edge games. He believes Polygon has laid the foundation to enable high-profile AAA game creators to build and release next-level gaming experiences.
Overall, the mention of AAA gaming indicates Nailwal sees major potential growth on the horizon for Reddit NFTs on Polygon. He thinks the ecosystem could progress from its current state to one that includes top-notch, high-caliber gaming content and applications.
