Reddit NFT Sale Crosses $40M; Polygon Founder Reveals What’s Next

Reddit NFTs have surpassed $40 million in sales; Sandeep Nailwal of Polygon says the ecosystem is posed for expansion into AAA gaming.
By Sunil Sharma
August 15, 2023 Updated August 15, 2023
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A significant milestone has been achieved at the intersection of Reddit’s online community and the world of cryptocurrency, as non-fungible tokens (NFTs) on the Polygon blockchain showcase remarkable growth.

Reddit NFT Sale Surpasses $40M

Real-time data gathered by Dune Analytics reveals that the cumulative sales of Reddit NFTs have increased, reaching a record high of $40,554,135. Similarly, the volume of Collectible Avatars has surpassed a remarkable 20.3 million, as recorded within the past 24 hours.

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Moreover, the number of holders of these distinctive NFTs has risen to over 16 million. As a result, the market capitalization of the Collectible Avatars is now about to hit $100 million. 

Notably, the Dune Analytics dashboard spotlighted more intriguing insights into the Reddit NFT landscape. According to the report, the Gen 4 collections have amassed an aggregate primary sales volume of $856,190, with a robust holder count of 12,854. 

Interestingly, the Gen 4 NFTs have witnessed over 200 sales within the past 24 hours, collectively valued at more than $6,200. Meanwhile, the Gen 3 collections’ cumulative sales have surpassed $3 million, with a substantial holder count of 41,684.

Polygon Founder on What’s Next

These compelling statistics have not escaped the attention of Sandeep Nailwal, the founder of the Polygon blockchain. Nailwal recently utilized the X platform (formerly known as Twitter) to draw attention to the burgeoning ecosystem. 

In the tweet, he acknowledged that while the growth around Polygon may be gradual, it is undeniably indicative of progress. Nailwal said: 

“Polygon ecosystem’s mainstream products are silently reaching ‘magic inflection points of growth, be it Reddit Avatars, DraftKings NFTs, or Nike dotSWOOSH. Many others lined up too. Soon AAA gaming too. Slowly but surely, fam!”

Of particular note, “AAA gaming” alludes to high-budget gaming titles. Nailwal implied that the Polygon blockchain is poised for substantial expansion to see the development and release of noteworthy AAA gaming projects.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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