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Against the backdrop of a slowing NFT market, Reddit\u2019s Collectible Avatars on Polygon<\/a> are speeding up. A whopping 20 million NFTs<\/a> have been minted since the project\u2019s inception in 2022. Currently, these avatars grace the digital wallets of over 16.1 million users.<\/p>\n PFP (Profile Picture) NFTs are digital images users use to identify themselves on social media platforms. Reddit\u2019s Collectible Avatars fall under this PFP NFT category. These avatars are customizable versions of Reddit\u2019s iconic alien mascot, Snoo. Presented in different artistic styles, the collection represents customizable iterations, each uniquely tailoring Snoo. What sets these avatars apart is the distinctive blue hexagonal ring surrounding the Snoo mascot, differentiating NFT avatars from their non-NFT counterparts.<\/p>\n By the close of May, 13.9 million avatars were already held within roughly 10 million wallets<\/a>. In a brief span exceeding two months, an impressive 6 million additional NFTs were minted, paralleled by an equal surge in unique wallet creations.<\/p>\n The release of the Gen 4 collection, dubbed \u201cRetro Reimagined,\u201d on July 27 played a role in the spike in avatar holders. The Gen 3 collection marked its presence with sales transactions surpassing $3.4 million. As of August 13, Reddit NFTs have amassed transaction volumes topping $40 million.<\/p>\nPFP NFTs and Their Role on Social Platforms<\/h2>\n
A Look at Avatar Growth and Sales<\/h2>\n
Reddit: A Gateway to Web3<\/h2>\n