What is the Question?🚨

Reddit is officially in the NFT game. Find 3 metrics to compare the Reddit NFT launch to the launches of other major NFTs.

Add any other interesting metrics comparing this launch to Polygon NFTs in general

Analyzed Topics:

1. Overall and Daily Reddit NFTs Stats
2. Reddit NFTs against Other Polygon Collections
3. Reddit NFTs vs Major Polygon Collections

Introduction🚩

What is Reddit?

Reddit is a popular networking site that allows users to discuss, vote on and share content.

What are Reddit NFTs?

Reddit’s CryptoSnoos NFTs are digital, limited-edition collectibles based on the social platform’s mascot, Snoo. They’re designed by independent artists and Reddit creators from popular creative communities like r/Comics that users can buy with fiat currency, ranging in price from $10 to $100. The avatars give users platform benefits (like unique profile animations) and allow Redditors to use their avatars as they see fit off the platform.

These NFTs emerged from the context and the success of Reddit’s then-recently-updated Avatar Builder, which the platform launched in 2020.

Method⚡

I this bounty i explored the newly launched Reddit NFTs on Polygon Network and analyzed some metrics from it from different angles that you will see.

I Extracted the data from ==Polygon.core== database provided by Flipsidecrypto and mainly used ==“polygon.core.fact_token_transfers”== and ==“polygon.core.fact event logs==” and only considered successful transactions with tx_status = SUCCESS

Reddit NFT Collection launched on Aug 30th and this dashboard made on Oct 29th almost 2 months after the launch day ==(2022-10-29)==

Findings👀

• In the charts above i showed overall and daily Reddit NFTs stats like number of sales, buyers, sellers volume and etc on different angles and tried to make it as clear as possible
• Since Reddit NFTs launch day on August 30th, more than 2500 buyers and sellers together recorded more than 6.5K number of sales
• Altough Reddit NFTs average price is 0.02 ETH but users recorded a massive amount of 175 ETH total sales volume over time
• Minter wallets are accounting most of the Reddit collection’s state with over 60% and 2.8M
• As we see, Reddit NFTs were bullish in past 2 months and growing so fast
• Reddit NFTs stats like number of buyers , sellers , sales recorded their all-time high on Oct 24th, after 2 months that they move slowly with a gentle slope, suddenly they spiked on Oct 23th and recorded huge stats in overall
• Reddit NFTs had their highest number of sales On Oct 24th with almost 8K sales, almost 6000 sales more than its previous day
• Reddit NFTs average price is increasing very slowly day by day
• On Oct 24th, They had their highest volume and sales on secondary market place too
• Minter Wallets, Mint Count and NFT count are the most popular states of Reddit NFTs

1. Overall and Daily Reddit NFTs Stats

2. Reddit NFTs against Other Polygon Collections

Findings👀

• In these charts i compared Reddit NFTs stats with the whole other collections on Polygon
• As we see, Although Reddit collection has launched recently, but it recorded some pretty high stats in this short period of time
• This collections is being supported by the popular Reddit platform and growing so fast with a nice upward trend
• It has a long way to reach the whole Polygon Collections but it isnt a big deal for it actually
• This collection has the potential tobe a top tier NFT collection on Polygon and im sure that we hear more about them in the near future because Reddit is a BOOM platform

3. Reddit NFTs vs Major Polygon Collections

Findings👀

• In these charts i made a comparison between Reddit NFTs and 2 major NFT collection on Polygon such as Martians and Crypto Unicorns
• We see that, Reddit Collection in this short amount of time since its launch day, it already recorded biger stats than the other 2 collections
• It seems like it is getting so popular between Polygon users or even the whole NFT lovers out there
• Actually, October for this collection was a blessing, its stats especially number of sales started to increase dramatically since the beginning of October and in the recent week it recorded an all-time high as i mentioned earlier on Oct 24th
• Although Reddit had more sales than Martians in past 2 months, but Martians collection recorded so much more volume in ETH over time and when we compare their total volume together, we barely can see Reddit
• Martians recorded over 500K volume in ETH in last 2 months while Reddit recorded only 162 ETH and Crypto Unicorns 3.43
• One of the reasons that Martians recorded so much more volume than the other 2 can be the high average price of this collection

Conclusion💡

• In overall, Reddit NFTs performed very well in past 2 months since their launch on Aug 30th
• 1064 buyers and 1497 sellers recorded over 6.5K NFT sales and 175 ETH over time
• It is interesting that number of sellers were double the number of buyers
• The most Expensive Reddit NFT has a price of 5 ETH while the average price of this collection is 0.02 ETH
• Minter Wallets, Mint Count and NFT count are the most popular states of Reddit NFTs
• Oct 24th was a very good day for this collection because it reached to its all-time high for the first time since its launch
• Reddit NFTs stats were bullish in last 2 months but they started to grow faster after the beginning of October
• Other Polygon Collections obviously have so much more stats than Reddit NFTs that just launched 2 months ago, but this collection has the potential to beat all its competitors because it has a strong support from the Great Reddit Platform and also it is a gaming collection too
• Although Reddit had more sales than Martians in past 2 months, but Martians collection recorded so much more volume in ETH over time and when we compare their total volume together, we barely can see Reddit
• Martians recorded over 500K volume in ETH in last 2 months while Reddit recorded only 162 ETH and Crypto Unicorns 3.43
• Reddit had over 6K sales in past 2 months while Martian and Crypto Unicorns had less than 2.5K sales together

Author: Sbhn_NP

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Thanks for your time!