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Reddit Adds 4 Million Newly Minted Polygon-Based NFTs in Two Months

Reddit just added a whopping 4 million newly minted NFT avatars in under two months. The social news aggregator platform has been one of the biggest success stories among mainstream brands that have forayed into the ‘wild west’ of NFTs.

According to Dune Analytics data, Reddit had more than 9 million NFTs avatars as of February 7, all minted on the Layer 2 Ethereum scaling blockchain Polygon. In our previous report published on December 12, 2022, Reddit had just over 5 million collectible avatars.

That was not the only interesting stat to pick from Reddit’s latest numbers. The company also registered a significant increase in the number of multiple NFT avatar holders, who rose to 1.789 million up from about 306k two months ago.

On the other hand, single NFT holders increased by 563k to about 4.5 million, with the total NFT holders rising to about 6.3 million from 4.2 million.

Reddit’s massive NFT mint over the past two months comes ahead of the company’s upcoming NFT offer in collaboration with the National Football League (NFL). The company announced Super Bowl-themed NFTs for the two finalists competing for the trophy.

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