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The secret of the popularity of the Reddit NFT marketplace

Nov 1, 2022
The secret of the popularity of the Reddit NFT marketplace
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Reddit launched its own NFT platform in the summer and in a short time was able to collect a record number of registered wallets.

With a daily active user (DAU) of 50 million people, the marketplace has 3 million crypto wallets. This is more than on the largest OpenSea service.

During the existence of everything, about 40 thousand avatars were created. The developers released a new collection for Halloween and it's called Spooky Season. These tokens have surpassed such collections as CryptoPunks and Ethereum Name Service in popularity.

The trading volumes of the collection almost doubled those of CryptoPunks. The most expensive token from the collection cost 750 ETH.

In a short time, the platform was able to attract the attention of many users. Experts note that such success can be attributed to a simple interface and the absence of complex crypto jargon.

For example, avatars could be bought for fiat currency. Thus, users did not need knowledge in Web3, as well as experience in using crypto exchanges.

The marketplace is launched on Polygon, which eliminates high commissions for gas. This Reddit approach quickly paid off and increased demand for tokens.

Earlier it became known that Mark Zuckerberg will play a supervillain in the web3-game "Rabbit Hole". Read more about this here. 

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