Reddit

Reddit 

NFTs generate $6.5 million in sales, surpassing OpenSea this week

Reddit NFT marketplace takes over OpenSea this week by generating an all-time high of $6.5M in sales, Dune Analytics reports. The Polygon-based Reddit avatars are the latest trend in NFT community.

Reddit is a social media platform that has over 52M daily active users worldwide. It is one of the leading spaces in the NFT space that recently announced an NFT marketplace launch on Polygon.

Now, Reddit NFTs have surpassed blue-chip collections. Two collections from the platform made it to the top 10 list on OpenSea, ranking higher than Bored Apes CryptoPunks, and ENS.

The Spooky Season by poieeeyee topped the volume of CryptoPunks. According to OpenSea, the collection has generated 899 ETH, which is around $1.3M, with a floor price of 0.178 ETH (~$1070).

Other Reddit collections like The Senses and Imagination Station also took over the OpenSea’s ranking list as more and more people minted the collections.

Not only that but the secondary market is also actively trading these collectibles among people. The bear market in NFT platforms seems to have no effect on the hype over these avatars.

The increasing popularity of Reddit NFTs is because the marketplace doesn’t require users to have MATIC or ETH unlike OpenSea. The non-crypto users can easily buy avatars without any complications.

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