Reddit's NFT ventures
Reddit Avatars are the Trojan Horse of NFTs that are on boarding millions into Web3, and no one is talking about it 🧵 pic.twitter.com/x6LMCH0JAy
— AB (@ABBBBBB_NFT) October 19, 2022
$117,845.00
3.73%$2,999.89
6.42%$2.82
13.01%$694.68
2.56%$164.23
2.94%$0.999903
0.00%$0.21082
13.00%$0.302275
3.70%$3,001.81
6.69%$0.738223
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9.10%$117,836.00
4.02%$3,613.16
6.26%$3.48
1.77%$0.374608
24.68%$15.74
7.42%$536.27
5.15%$21.28
7.28%$0.201193
11.39%$9.03
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6.44%$0.00001376
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28.15%$3,000.64
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9.26%$4.07
3.92%$0.00000067
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6.20%$0.612403
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4.13%$0.00915937
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13.08%$0.997775
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0.03%$1.57
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6.30%$0.151505
18.39%$0.211264
13.03%$46.63
9.24%$26.86
4.72%$0.999335
-0.05%$3,001.10
6.58%$0.09817
17.55%$1.003
0.44%$0.00488166
6.01%$0.0083042
5.95%$0.633292
8.60%$1.001
0.00%$3,195.27
6.64%$0.431072
5.70%$0.22335
0.40%$48.14
4.76%$0.999903
0.00%$6.38
6.97%$1.20
6.00%$7.83
0.85%$0.00000045
1.62%$1.42
9.78%$0.062196
1.31%$15.65
6.59%$0.313582
39.51%$3,315.03
6.64%$0.362908
8.82%$6.57
11.75%$0.170756
0.20%$0.059105
13.09%$0.00002131
6.21%$2.55
8.31%$0.00455737
9.77%$1.015
2.18%$1.093
-0.04%$1.70
9.04%$117,918.00
5.50%$0.155683
4.42%$0.04123033
6.59%$3,286.65
6.68%$0.557035
5.16%$1.00
-0.16%$2,995.61
6.52%$0.082311
15.89%$0.00723185
6.73%$2,999.79
6.50%$0.377903
9.58%$0.382414
11.30%$0.999797
-0.02%$0.918101
17.05%$0.03687764
4.39%$2,997.31
6.66%$1.23
4.35%$117,717.00
3.96%$0.00006464
5.04%$0.53479
4.58%$0.01842835
4.49%$179.52
3.02%$21.01
1.17%$0.764037
3.70%$0.236219
11.20%$1.24
4.25%$128.25
6.48%$3,619.05
6.35%$11.30
4.51%$0.9998
-0.01%$0.00384646
7.00%$0.770969
4.66%$0.31958
7.01%$0.00367066
11.36%$0.00456834
9.21%$0.999619
0.02%$25.89
7.38%$21.30
7.34%$0.99874
-0.22%$0.999443
-0.02%$0.669751
7.72%$0.0305255
8.14%$1.00
0.00%$117,644.00
3.65%$2,368.64
3.89%$3,143.27
6.46%$6.89
5.66%$0.11458
8.11%$1.02
0.00%Reading
At least 3 million new users have turned to crypto, scrambling to scoop up one of Reddit's Collectible Avatars NFTs.
Redditors have created more than 3 million Reddit Vault wallets to buy and trade NFT avatars, which are based on the platform's Snoo character, since the series launched in July, according to chief product officer Pali Bhat.
Bhat was speaking on a panel at TechCrunch Disrupt in San Francisco on Tuesday with executives from Angel List and Calendly. Reddit has grown into an Internet giant since it launched in 2005. It generated $350 million in revenue last year and sees about 50 million daily active users, according to the company.
Reddit isn't the first to allow NFTs as profile pictures (also called PFPs), but it has been one of the more well-received launches.
Reddit's NFT success shows that there may be an appetite for JPEGs after all.
Twitter, for example, launched NFT profile pictures in January for its Twitter Blue subscribers, drawing a lot of criticism. Meta Platforms enabled NFTs for Facebook and Instagram users last month but has been struggling to overcome growing pains—like staged legs—with its metaverse rollout.
Conversely, Reddit's Web3 onboarding was compared to a Trojan House that will usher NFTs into mainstream adoption by at least one person on Twitter.
Reddit Avatars are the Trojan Horse of NFTs that are on boarding millions into Web3, and no one is talking about it 🧵 pic.twitter.com/x6LMCH0JAy
— AB (@ABBBBBB_NFT) October 19, 2022
It's also one of several blockchain-based features that have launched on Reddit this year.
After releasing the profile picture NFT collection in July, the site airdropped free Polygon NFTs to power users who had earned an especially high level of karma, points awarded for contributions to the site's communities in August.
The same month, the company announced that it would begin using Arbitrum Nova, a second, faster blockchain from the popular Ethereum layer-2 solution Arbitrum, to scale its Ethereum-based Community Points.
Meanwhile, Reddit co-founder Alexis Ohanian, who left the company in 2018, has been raising money for a crypto-focused fund at Seven Seven Six, his venture capital firm.
The firm has been managing more than $750 million since it launched in 2020, according to CrunchBase.
Tradable NFT stickers are launching on Telegram via The Open Network (TON). Open Builders—the team behind viral tap-to-earn game Notcoin—and the DOGS meme coin community announced Tuesday that they have teamed up to open Sticker Shop. The Telegram mini app will sell limited edition digital sticker packs purchased via Stars, the messaging platform's native in-app currency that’s tied to Toncoin (TON). Purchased stickers can be shared in chats and bought and sold via marketplaces (such as Getgems)...
The Pudgy Penguins floor price broke through $100,000, up more than 20% in the last 24 hours, as excitement and speculation surround the Ethereum NFT project and its upcoming token airdrop on Solana. The collection of 8,888 Penguin NFTs broke an all-time high mark last week when it began trading around $62,000. Shortly thereafter, the project’s team announced that an ecosystem token—PENGU—will be launched on Solana in the near future, rewarding holders of the Pudgy Penguins ecosystem and beyond...
9dcc, the on-chain fashion label founded by pseudonymous crypto personality and investor gmoney, is preparing to release its latest project, the 9dcc Black Box, on December 18. The drop, limited to 2,750 NFTs minted on Ethereum layer-2 network Base, is being billed by the crypto-native luxury brand as a blend of fashion, blockchain technology, and mystery. Each 9dcc Black Box promises a mix of digital and physical rewards. Buyers might find an item from the label’s Collection-01, which ranges fr...