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'sSnoo character, sincethe 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 calledPFPs), but it has been one of the more well-received launches.
Reddit's NFT ventures
Reddit's NFT success shows that there may be an appetite for JPEGs after all.
It's also one of several blockchain-based features that have launched on Reddit this year.
After releasing the profile picture NFT collectionin July, the siteairdropped 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 usingArbitrum 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.
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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...
