Popular social media platform Reddit grabbed huge success with its crypto NFTs business.
Reddit is a popular social media platform, where internet users can easily create their subreddit community to share thoughts & hold discussions decided on their interests. In July of the last year, Reddit brought a polygon network supported NFTs trade system for Reddit users. Users can use the NFTs as a profile avatar picture only.
The latest reports confirmed that Reddit grabbed huge success in its NFTs business, with 9,909,465 Reddit accounts holding NFTs to this date and the NFTs trade volume hits $32 million.
So here we can say that Reddit brought nearly 10 million users into the crypto NFTs ecosystem with its simple NFTs use case plan.
The Reddit team is also aware of this success. However, they failed to celebrate these milestones but it is confirmed that they are going to take big decisions ahead with the NFTs business plan.
In March of this year, Reddit confirmed its NFTs marketplace plan. Reportedly Reddit decided to launch NFTs marketplace, where Reddit users will be able to easily trade with their NFTs.
Polygon blockchain network Co-founder Sandeep Nailwal also confirmed this news.
It is strange to see the new players in the NFTs sector because the current era of the NFTs concept is now not very popular. Over the last couple of years, the majority of people lost their interest in NFTs.
Recently Bitcoin ordinals grabbed huge popularity in the crypto sector. With the help of Ordinals, people can easily mint NFTs, images, code, text, etc directly on the Bitcoin network. Few reports noted that the majority of the NFTs minted via ordinals were text-based NFTs.