Reddit Keeps Upvoting NFTs, Drops Third-Generation Collection

According to data from Dune Analytics, the Polygon-based NFT collection has 7.4 million unique holders.

AccessTimeIconApr 12, 2023 at 3:45 p.m. UTC
Updated Apr 12, 2023 at 4:14 p.m. UTC

Popular social platform Reddit has released its third-generation non-fungible token (NFT) collection, adding thousands more tokens from over 100 artists.

The demand for the collection was intense enough to bring down Reddit’s shop for the avatars for a period following the drop, with some users complaining that the team didn’t implement anti-bot measures such as CAPTCHA.

The Gen3 collection, which is “future realities” themed, according to a post by Reddit, features “Snoo” collectible avatars, the character behind the platform’s logo. The NFTs are Polygon-based and are available for purchase with fiat currency. According to Reddit, the avatars come with a degree of interoperability and allow artists to earn royalties on their work.

“Having collectible Avatars on the blockchain gives you, the purchaser, ownership over your Avatar, no matter where you want to take it, on or off Reddit,” said Reddit. “It also provides artists a way to have their work live beyond the virtual walls of Reddit, and collect royalties on future sales.”

One artist featured in the collection was “Nyan Cat” meme creator Chris Torres who celebrated seeing their Reddit Gen3 NFTs trend on OpenSea.

According to data from blockchain analytics platform Dune Analytics, the Gen3 collection has about $585,000 in sales volume. A chart shows that there are over 7.4 million unique holders across all Reddit-based collections.

Reddit rolled out its NFT marketplace on digital wallet Vault in July, opening up sales of its collectible “Snoo” avatars. By October, over 2.5 million users had opened wallets on the platform, and the collections pumped to volumes close to NFT giant Yuga Labs’ flagship Bored Ape Yacht Club collection.

Edited by Toby Leah Bochan.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about