21/10/2022 Reddit Users Open 2.5 Million Crypto Wallets After Launch of NFT Marketplace

Among the total 3 million users that have opened Reddit Vault Wallets, 2.5 million have occurred since its NFT marketplace opened in July.

Reddit integrates FTX Pay (Brett Jordan/Unsplash)

Reddit users appear to be upvoting non-fungible tokens (NFT).

The social network’s users have opened over2.5 million crypto walletson the platform since Reddit released its NFT marketplace in July.

NBA legend Shaquille O’Neal signs $11M Astrals NFT settlement
NFTs weekly sales surge 94% as crypto market continues bullish run
Chinese Payment Giant Alipay Launches NFT Sales

Reddit claims it has50 million daily active usersand grossed over $350 million in earnings last year, so its foray into Web3 may bring more revenue to the social platform.

The social network’s NFT marketplace requires users to set up a Reddit Vault Wallet to purchase and store tokens. The wallet allows users to manage community points stored on-chain that can be used for various in-app purchases.

Reddit’s rollout of NFTs has been in the works since its initial release ofCryptoSnoo” in June 2021, an NFT collection based on the platform’s logo, Snoo. In July,Reddit opened its NFT marketplaceto the public, ahead of its Augustairdropsto users with high karma across four Snoo-based collections.

As the total number of wallets is roughly 3 million, it’s clear the interest in owning thesePFP NFTsis driving adoption — the vast majority of new users have hopped on board in the past three months.

Across its collectionsThe Singularity,Aww Friends,Drip SquadandMeme Team, the lowest floor price is 0.01 ETH, or about $13.

Arts

https://www.coindesk.com/web3/2022/10/19/reddit-users-open-25-million-crypto-wallets-after-launch-of-nft-marketplace/

Interesting NFTs
The King
Part of a series of three artworks entitled "The Rulers". Inspired by the rulers of the animal kingdom, african mandalas & diamonds. A very complex digital illustration, each lion consists of hundreds of custom diamond shapes. Each background is an intricate custom mandala that compliments the lions facial features.
The Complete MF Collection
THE COMPLETE MF COLLECTION by Beeple
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
Amber
*waves*! I'm Amber. I want to live in a world where people believe that one day cats will rule this planet. It wasn't heavily publicized, but I once had a brief relationship with Hobbes. I like your face.
#50925
By OthersideDeployer