2 hours ago | 2 mins read
- Over 1.3 million official Super Bowl LVII NFT avatars have been minted.
- All users of the Reddit platform may get one of four different Super Bowl avatars.
In recent months, Reddit’s Collectible Avatars initiative has provided millions of users with free NFTs, making it a model of efficiency as a Web3 on-ramp. Reddit is ready to achieve yet another landmark owing to a new partnership with the NFL on free Super Bowl NFTs.
Since its release on Monday, over 1.3 million official Super Bowl LVII NFT avatars have been minted, with over 500,000 created on Tuesday alone. According to publicly accessible blockchain statistics on Dune, users have already minted over 9.7 million of Reddit’s Collectible Avatar NFTs.
Low-barrier Entry Point For Newcomers
All users of the Reddit platform may get one of four different Super Bowl avatar designs including those for the Kansas City Chiefs and Philadelphia Eagles without spending a dime. Polygon, a network built on top of Ethereum that allows for cheaper and quicker transactions, is where Reddit mints its collectible avatars.
Reddit’s Super Bowl NFTs aren’t seeing a lot of trade activity since users can get the avatars for free. Since its inception, the NFL collection has only seen roughly 5 ETH ($7,600) in exchanges on leading NFT marketplace OpenSea, with pricing on the secondary market starting at only 0.18 MATIC ($0.23)
For many proponents of Web3, Reddit’s NFT initiative is appealing since it provides a low-barrier entry point for newcomers. A user on Reddit only just clicks a button, chooses an avatar from a gallery, and provides a password to set up a new wallet. If desired, the avatars may be moved to a third-party wallet where they can be bought, sold, or traded.
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