On Monday, Reddit's collectible NFT avatar secondary market sales crossed the $5 million mark across 20,375 sales.
Secondary Sales Volume Tied to Reddit's Collectible NFT Avatars Surges Crossing $5 Million
Reddit’s non-fungible token avatars have produced significant market action in the NFT industry, as the collectible’s secondary market sales reached more than $5 million on October 24 across more than 20,000 sales. The demand for Reddit’s collectible NFT avatars minted on Polygon has also spurred over three million Redditors to leverage Reddit’s Vault blockchain wallet.
Demand for Reddit’s Collectible NFT Avatars Skyrockets — $5 Million in Secondary Sales Sold Across 20,000 Salesthe company had plans to release blockchain-backed avatars that leverage the proof-of-stake blockchain Polygon . At the time, Reddit said that Polygon was chosen for its “low-cost transactions and sustainability commitments.
Bhat further told the event’s attendees that 2.5 million were created in order to obtain the latest NFT avatars. According to statistics stemming from the blockchain analytics portal Dune Analytics,
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