Reddit NFTs Trading Volumes Surge As They Take Over OpenSea!
Reddit NFT Trading Volumes Surge As They Take Over OpenSea!
Reddit NFTs have been making a big buzz around the NFT community these past few days as their trading volume and prices continue to grow and rise following the surge of demand from Reddit users.
Rise Of The Reddit NFTs
Earlier this year, Reddit announced the launch of their new “Collectible Avatars”, limited-edition NFTs backed by the Polygon blockchain which can then be used by users as profile pictures on the platform.
At first, the project was met with some criticism from the general public due to NFTs bad rep, however now 3 months later, multiple NFT projects are soaring in both price and trading volume as millions of reddit users jump in to collect their own Reddit NFT avatars.
Related: Reddit Onboarded 2.5 Million New Crypto Users, Why It’s A Big Deal!
FP & Volume Surge
Reddits NFT project involves a number of different independent artists working directly with Reddit to create their own version and collection for these Reddit NFTs, because of this, there are multiple Reddit NFT collections.
At the time of writing, there are four separate Reddit NFT collections which sit on OpenSea’s top 10 list for trending NFTs within the past 24 hours. Essentially dominating the popular NFT Marketplace.
Crazy to see how much @Reddit NFTs are taking over Opensea 👀 thoughts?#nfts #Opensea #nftcommunity #nft pic.twitter.com/3NqqqiQ6cc
— Alpha Blocs (@TheAlphaBlocs) October 25, 2022
These four collections all boast a considerable surge in trading volume, with the highest topping collection on the list having surged by more than 600% within the past 24 hours.
These collections’ floor price also differs, costing anywhere between 0.44 ETH to 1.75 ETH at the time of writing.
Related: Azuki Raises $2.5 Million In Auction For Golden Skateboards
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