Reddit ranks among the top 3 NFT platforms

In just three months since its launch, Reddit's NFT platform has taken one of the leading positions in terms of trading volume and earned $10 million.

At a time of stagnation in the crypto industry, the new NFT platform has become the largest in terms of the number of users. As of 10/31/2022, total sales exceeded $10 million. Trading grew intensely after the launch of the second avatar collection.

In July, the first NFT collection was launched on the platform, and the storage function on the Polygon network wallets was activated. The collection items were digital avatars based on the Reddit mascot theme from independent artists. NFTs could be purchased for digital and fiat money from credit and debit cards. As a result, the site sold 86,000 copies. The price per avatar ranged from 10-100 USD. 

After the launch of the second collection, sales increased 1.5 times. The last week of October was marked by a surge in transactions. 

The increase in Reddit sales coincided with an increase in NFT activity on the Polygon network. NFT sales at OpenSea actively increased during October.