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
Elk Bubblegum Kitty!
Shalom! I'm Elk Bubblegum Kitty!. I'm a Dogwalker by day, and I like practicing witchcraft by night. I would give it all up to be on Oprah. It's pawesome to meet you!
T(r)opical
Inspired by and for the 2018 North American Bitcoin conference in Miami, Florida. The palm tree that has a cracked open Bitcoin coconut suggests that by traveling you can enjoy this tropical digital fruit. The peacock nesting in the tree has spread its wings to flaunt other integrated crypto logos as well. The famous Miami skyline at the bottom incorporates the coins, as well as the code that is transforming the banking buildings that made it. The origin of that skyline is in the 80's cocaine craze, so it is all incorporated into the story of foundational transformation, linked to a global movement. The file size is suitable for an 8K TV. Mr. Moe Levin, the founder of the conference is a collector a physical print of the work. Explainer video: https://www.youtube.com/watch?v=2J0ZfPCJdxY&feature=emb_title Upload resolution 8000x4000 PX at 300DPI
TPunk 3442
By A1F6BF
Ringers #879
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.
Poem by Motoyoshi Shinno, from the series One Hundred Poems by One Hundred Poets, Explained by the Nurse
Katsushika Hokusai (1760-1849) Poem by Motoyoshi Shinno, from the series One Hundred Poems by One Hundred Poets, Explained by the Nurse late 1830s - Japan