31/10/2022 Reddit Launched Its Own NFT Marketplace in July. It Already Has More Users Than OpenSea and Other Major Platforms

Three million users have created Reddit Vaults—the company’s name for a blockchain wallet—since the service was created a few months ago.

Examples of Reddit Avatars. Courtesy of Reddit.

Quietly, and seemingly overnight, Reddit has become one of the biggest crypto-art marketplaces—and it did so by avoiding the acronym NFT.

Earlier this month, Reddit CPOPali Bhat revealedthat 3 million users have created Vaults—the site’s name for a blockchain wallet—since the company launched the product this summer. Of those, an estimated 2.5 million were set up to purchase Reddit’s own Avatars—the site’s name for profile picture-style NFTS—he explained.

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That means that Reddit, which just formally entered the crypto-collectible space this summer, already has more users than OpenSea, one of the most established NFT platforms, has active accounts.

It’s an impressive feat, especially considering the dramatic depreciation of cryptocurrency and blockchain collectibles in 2022. (Last month,Bloomberg reportedthat trading volumes in NFTS have plummeted 97% from a record high in January.) And it’s one that other major social media platforms are surely monitoring with slavering mouths. Meta, the company that owns Facebook and Instagram, isconsidering launching its own marketplace, too.

A caveat comes attached to Reddit’s achievement, however. In August, the company dumped free Avatars into the vaults of high-profile Redditors—a not-so-subtle ploy meant to encourage the website’s users to open new accounts.

Reddit unveiled its marketplace in July of this year. It was marketed as a kind of populist platform, targeting crypto-curious audiences who otherwise felt a barrier to entry into the world. Instead of NFTs, the company offered Avatars (the original collection was based on variations of Reddit’s logo); instead of wallets, Vaults. Collectibles were priced at low, fixed rates—$9.99, $24.99, $49.99, etc.—and could be purchased via credit card.

The company established the new service on Polygon, an Ethereum-compatible blockchain chosen for “its low cost transactions and sustainability commitments,” pera recent press release.

To date, cumulative sales of Reddit Avatars have topped $6.5 million, according to information fromDune analytics.

Arts

https://news.artnet.com/market/reddit-launched-its-own-nft-marketplace-in-july-it-already-has-more-users-than-opensea-and-other-major-platforms-2199244

Interesting NFTs
TELOS
There existed a unified planetary consciousness, connected to all of humanity, before the Great War. Out of the destruction arose the beginnings of ancient civilization and our history as we know it.
The Harvest
An anthropomorphic figure stands, wide eyed, staring at the viewer; its body masculine, muscular, and humanoid. Its “mind” dissociates into a conglomerate of structures resembling feathers, grain, teeth–as well as a radial flower “node”, casting linear rays throughout the composition. To his left, a vat of bodies gesture and writhe in a kind of amniotic soup, attended by a video game robot. The bot's red display reads “uWu”. Behind the robot and filling the left side of the composition is an archaic figure composed of a variety of vintage objects and symbols. Among them are a hardbound book with ancient cuneiform scripts, indicating barley, beer, bread, ox, house, and sky, behind which is a grimacing, salivating jagged toothed maw; and an old Commodore floppy drive. The figure’s head tilts toward an illuminated crescent moon, suggesting the Egyptian Sacred Bull. The archaic figure is composed of a variety of mutating cells, which shift in color, and pattern; eventually breaking free into an ephemeral broadcast of bubbles which move across the background. The work came into being against a psychological introspection, which included associations to pop culture such as alien abduction and pod people, as well as quite a bit of reflection on grains as a symbol of civilization, agriculture, sustenance, life, and imbibing (mainly whiskies).
#77075
By OthersideDeployer
Ringers #621
There are an almost infinite number of ways to wrap a string around a set of pegs. On the surface it may seem like a simple concept but prepare to be surprised and delighted at the variety of combinations the algorithm can produce. Each output from 'Ringers' is derived from a unique transaction hash and generated in Javascript in the browser. Feature variations include peg count, sizing, layout, wrap orientation, and a few colorful flourishes for good measure. Additional project feature(s) => Background: Red, Size: Normal, Wrap orientation: Balanced, Wrap style: Loop, Peg layout: Recursive grid, Peg scaling: Uniform, Body: White, Peg style: Solid, Extra color: N/A, Peg count: 23
Smile to Shreds, Neon Gwen
The First KayPikeFashion Mint Ever. Ever feel so joyful and were grinning so hard you felt you could split in half? That punk rebel yell of glee when you pull of a particularly refined stunt? This is the paint of dreams, fangs and neon. Hellish and hard to pull off. I was able to with this work quietly paint a sweet inner tale of childhood influences, rat fink and autobody shops. All while pretending to paint gwenom for the audience. More on that in bonus material. This is my alternate animation made specifically for crypto art collectors. It will only ever exist in this format. You get the Shiny, unused in media verified image. More on that in the bonus material. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical Mail Bonus Package: A verified physical Art Print. Autographed from the artist in 12x16. Please allow a few weeks for delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.