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NFT Adoption Boom: Reddit NFTs on Polygon (MATIC) Surge 642% in Sales Volume

The adoption of NFTs is also going great amidst the mass adoption of digital assets. Check out the latest reports about this issue below.

NFT adoption boom

According to the latest reports coming from the online publication the Daily Hodl, new non-fungible token (NFT) avatars from popular social media platform Reddit have exploded over the past month due to mass adoption on the website.

It’s been revealed that the Reddit NFT collectible avatars based on Polygon (MATIC) have reached 2,813,700 holders, according to Dune Analytics.

Only 2 months ago, the NFT collection had 13,000 users.

It’s also worth noting the fact that the sales volume of the collectible avatars has exploded “by 642% since October 1, from $875,000 to $6,520,000 today.”

The subreddit dedicated to the Polygon NFT project says that collectible avatars are third-party crypto wallet compatible. Here are the notes as revealed by the online publication mentioned above:

“Since your Collectible Avatar is on the blockchain, you own it. This means you can basically do what you want with it! We’re currently building transfer functionality into the Reddit apps and website and will be completing this work very soon!”

We suggest that you check out the Subreddit dedicated to the Polygon NFT project. 

Bitcoin adoption is inevitable

It’s been revealed that a high-ranking exec from Coinbase said that institutional adoption of digital assets is moving at a faster pace than most people realize.

During a new interview with SALT Talks, John D’Agostino, a senior advisor at Coinbase, said that he understands the fact that institutional crypto adoption is actually moving fast.

He says that adoption is moving fast.

“for someone who spent 15 years trying to get commodities to be mainstream, it’s actually moving fast. But I do understand why for somebody in the heat of the moment feels it’s glacial. But for institutional, I think it’s moving very, very fast.”

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