Why Reddit’s Collectible Avatar NFTs Have Been So Wildly Successful

Reddit recently launched its own collection of NFT avatars, and not only did they all sell out, but 2.5 million Reddit Vault wallets were created to buy the 40,000 token collection. Non-fungible tokens, or NFTs, gained a negative reputation in 2021 during the last cryptocurrency bubble, with collectible JPEG NFTs like Bored Ape Yacht Club and like CryptoPunks becoming excessively overpriced…

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