Reddit Collectible Avatar, which is used as avatars on Reddit’s social networking platform, is witnessing a new record after the positive signs since its launch.
According to Dune data from @polygon analytics, the total number of Collectible Avatars in circulation is around 4.4 million.
December 3 set a new record for the number of Collectible Avatars minted in a single day, with nearly 255,000 Reddit Collectible Avatars minted, breaking the previous record of more than 200,000 mints on both August 30 and August 31.
Some of the Collectible Avatars have made their way onto secondary markets such as OpenSea, where their floor values have skyrocketed; nonetheless, the majority of holders obtained them through Reddit minting.
Despite the millions of collectibles produced, there have only been roughly 40,000 reported sales. Over 3.4 million holders only have one collectible in their wallets.
Collectible Avatars — the moniker Reddit uses for its Polygon-based NFTs — the company went out of its way to separate the product from NFTs and cryptocurrency. Instead of being auctioned, the items are sold at a predetermined price and may only be purchased with fiat money. It made no mention of NFTs in its statement.
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