Reddit’s Collectible Avatars are one of the apparently effective Web3 on-ramps today. This is because ongoing discussions that have already lasted for months claimed that the relevant platform had achieved a milestone by being able to provide millions of free NFTs to users in recent months.
With the NFL’s latest initiative to offer free Super Bowl NFTs, the relevant platform is now on the verge of reaching yet another milestone. According to sources, since the game’s introduction on Monday, around 1.3 million official Super Bowl LVII NFT avatars have been produced. More than 500,000 people were included in these numbers on just Tuesday.
The Collectible Avatar NFTs on Reddit has already made approximately 10 million, according to blockchain data that was made public and is currently accessible on Dune. All Reddit users supposedly had access to the aforementioned Super Bowl avatars for free.
Reddit users must be able to choose one of four distinctive avatar styles, including those for the Philadelphia Eagles and the Kansas City Chiefs, using the Reddit site in order to obtain their free NFTs. According to reports, the Reddit Collectible Avatars were produced on the Polygon Ethereum sidechain network, which permits less expensive, quicker transactions.
The Catch on the Free NFTs on Polygon
Reddit’s Super Bowl NFTs already make it expected that there won’t be a lot of trading activity. Since the NFL collection, the top NFT Marketplace has stated that there have only been transactions of roughly 5 ETH related to the collection. As of the time of writing, the aforementioned free NFT collection is trading for 0.18 MATIC ($0.23) on secondary markets.
On the other hand, sources have shown that Reddit’s NFT program’s primary purpose is to be able to attract more people to the space in an approachable way, not to generate huge transactions or high price levels. As Reddit users can easily click a button, select the avatar they want from the collection, select a password for a newly established wallet, and they are set, this aim was fulfilled on the platform. Additionally, the aforementioned avatars can optionally be moved to an external wallet before being bought or sold.
The aforementioned action was seen to be successful because Reddit’s Polygon avatars are now present in almost 7 million different wallets. According to the aforementioned numbers, this week’s Super Bowl promotion led to the creation of nearly 500,000 new wallets.