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.

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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
PRRR Gen3
Sup playa! I'm PRRR Gen3. I'm a Train Conductor by day, and I like tricking babies by night. I put maple syrup on everything. Like, everything: hot dogs, lasagna—everything! Let's get busy!
Nirvana No.1
Nirvana No.1 Auction Ends with Lucky 07-07-2021 Good Luck
The River of Emeralds
Golden conditions at one of my favorite locations in the Rockies. The light, the colors, the textures; what more can you ask for? I just loved the way this river flowed into the sunset and the mountains in the background. It's rare you find a scene as perfect as this one. But when you do, you have to take advantage of it.
Pixel Story
This happy-go-lucky tribe made of lovable pixel Kitties have so much to talk about. While their language skills are simplistic, each Kitty still manages to express themselves with a variety of colorful emoticons and poses. From communicating their basic emotions, to discussing the economic implications of rising Ethereum gas prices, Pixel Tribe Kitties will keep each other entertained for hours. As their communications evolve and become more sophisticated, the inhabitants will come to realize that certain combinations of emotes will unlock secrets within their world. Try it out for yourself, if you're lucky enough to adopt a Kitty. Use the coordinate guide at: https://share.getcloudapp.com/7KumW6Lk to position your kitty Layer.
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.