Polygon and Dune Analytics cited statistics showing that the NFT avatar trade volume on Reddit has reached $1.5 million in the last 24 hours.
Cointelegraph reports that digital collectibles accounted for more than one-third of the $4.1 million in total trade volume for Reddit NFTs since their inception. In addition, 3,780 digital collectibles reached a new all-time high in daily sales volume on Reddit at the same time.
Polygon avatars are designed by independent artists and then minted as NFTs on the Polygon blockchain, Cointelegraph reports.
Shareholders are concerned about Facebook’s $100 billion metaverse project, which is ‘super-sized’ and ‘terrifying,’ according to reports.
What are the possibilities of NFT/Metaverse games merging with real-world sports and games?
Rarible, a NFT-based platform, has announced that it is upgrading to Rarible 2
More than 2.9 million collector avatars have been created since July. As a result, there are currently 2.8 million wallets holding Reddit NFTs in total. However, the supply of the collection has not increased proportionally, with only a few thousand NFTs being produced daily as opposed to the record daily rate of over 200,000 NFTs in late August.
According to data so far, royalties from the secondary market sales of NFTs have brought in more than $60,000 for the artists. To make NFT artwork and earn money, Reddit conceived the project.
(Based on the Cointelegraph article)