According to the information of Polygon Analytics unit of Dune portal, the NFT industry of digital avatars collected by Reddit has caused an unprecedented increase in theme activities. Within 24 hours of the second generation of after-sales service, the turnover of Reddit Collectible Avatars surged 1113%, exceeding $2.5 million. At the same time, the total number of holders of such digital avatars is only 160000 detailed addresses, less than 3 million.
The second generation NFT of Reddit basically sold immediately. It is interesting to fully consider that the first generation NFT launched in July this year could not sell for several weeks. Although the cost of Reddit NFT varies from $10 to $100, the market value of digital avatars on fashionable social networks is $113 million. The most expensive market price of this kind of NFT is 18146 dollars, and the cheapest market price is 29 dollars.
Surprisingly, Reddit sold hundreds of thousands of NFTs and collected 3 million holders in such a "sluggish cryptocurrency market" in just a few hours. However, according to authoritative experts, since Reddit's customers just exceed 50 million each month, this is only a gradual process.
As a result, according to investment analysts, Reddit will become one of the main managers of data encryption. It is not surprising that social networks have become the data encryption center equivalent to Twitter.
