Reddit Avatar Holders
CollectibleAvatars has bring a lot of artist and communities on to the web3 experience
These are the transfers i found from these 4 Original RedditNFT collection, their holders and last transaction is here:
- Token ID 1, Holder 0xB9983b26f6731E23CCbE2becF50Ae2d092191940, Last Transaction
- Token ID 2, Holder 0xfb71f273284e52e6191b061052c298f10c2a6817, Last Transaction
- Token ID 3, Holder 0x24422361687270c1ac2dd3f336e1bc130849617b, Last Transaction
- Token ID 4, Holder 0xf35bf057bcd469ed2e80b54ed2ecddc385e7e630, Last Transaction
- For the image above, the ID is in order 1 to 4 (left to right)
These Collection, were bid with a high $ETH value, in the CryptoBoom of 2021, but only NFT(id=1) was sold once.
- This collection didn’t bring more buyers, or more activity in sales, only 1 sale and because of their high value these Ethereum NFTs doesn’t present more activity in (2022).
Revenue Analysis
Since their Collection Launch, there is a total Volume of 14k of $ETH traded in the Markets and more than 35k of Sales, October was a really good month for this collection and although their activity dropped, there seems to be some correlation between Seasonal Events such as “Halloween” which may bring more activity, so is very probable that “Christmas” may be a good moment for collections to raise again on sales.
Most of the Sales were below 0.1 ETH, followed by 0.1 to 0.5 ETH, this doesn’t correlate with the Sales Volume in which ‘over 10 ETH’ price range have the most impact.
Questions and Summary
- Describe the web3 experience level of Reddit Avatar holders. Is this their first NFT? Or have they been interacting with NFTs and other web3 dApps for a while?
- Buyers of Reddit Avatar (6080): Most of them have their wallet within the past 2 weeks, and there is a lot wallets from 2021 too so this type of users have lots of experience in web3, and this NFT seems that isn’t their first.
- Minters of Reddit Avatar (2.86M): Only a few percentage (0.0665%) of these minters have interacted in Polygon prior their mint, after that only (0.216%) have interacted, so most of these holders are new to the web3 and this is their first NFT.
- What do new wallets do after receiving their Reddit Avatar? Are they actively exploring web3, or have they been inactive?
- Most of them (Buyers) are interacting with bridges (Hop Protocol) and the WETH (Asset).
- DEX such as Uniswap, Quickswap and Sushiswap are other options for the Buyers.
- Aave is the DeFi which reach the top 10 in activity too.
- The trading activity of the NFTs.
- Thanks to Polygon, Most of the sales were from NFT within 0 to 0.1 and 0.1 to 0.5 ETH in price.
- But most of the sales volume is thanks to sales from the over 10 ETH range price and 1 to 5 ETH range price.
It’s seems that a difference of the CryptoSnoos Collection, the change of Blockchain did help to attract a lot of new users onto the NFT market, being cheapers NFT (0 to 0.5 ETH) the most sold. There seems to be a correlation within seasonal events and market activity, so it’s very probably that the Christmas collection may present some spikes in activity for this Marketplace, because right now the activity is falling down in comparison with the last week of October.


CollectibleAvatars
- In July 2022, Reddit launched a collectible avatar marketplace on Polygon where Reddit users could purchase blockchain-based pics. These pics were designed by Reddit accounts.
- The Vault is the user digital wallet on Reddit, and whenever a new user (without Vault) interact with a blockchain-powered feature on reddit they can create their own Vault to store their Collectible Avatars on Reddit,
- These Vault have an address on Ethereum-compatible blockchains, in particular Polygon, and more than 3 million redditors have create Reddit Vault Wallets to trade these avatars.
- All these Avatars are based on Snoo, the Reddit Alien Mascot, and although these collections were launched at July, October was the month for the Spooky-Season NFT collections (From differents artists) which trigger a frenzy in NFT trades.
Reach Analysis
- There were 2.95M of mints of these NFTs and 2.86M of Wallets minting, from a total of 61 Collections, because of the high number of users and activity, we’ll focus more on the buyers of these NFTs which were really active on the last week of October.
- From October 20 at 20:00 51 Buyers start to buy all Collectible Avatars NFT and their numbers spike at October 24 between 03:00 until October 25.
- Most of these Buyers (1521), created their account 2 weeks prior their purchase, and there are buyers which have their wallets from 2021 too.
It’s seems that October 24 was a strong day for the NFT marketplace which didn’t have too much activity months prior to this day.
Spooky Season: pooieeeyee Activity was trending on that day along with The Senses and Foustlings (Both Reddit Collections too). Raising the interest for users to trade.
Retention Analysis
From all the Addresses from Reddit (2.86M) which minted, only 1910 were really active before their mint, with only a 65.6k of total transactions, the total percentage of Active Addresses was 0.0665%.
From the Buyers of these NFTs most of them interact with the Hop Protocol and WETH protocol, but all the others protocol were DEX or DeFi such as (AAVE, Sushiswap, Quickswap, Uniswap) or others NFT projects.
With More than 13k distinct protocols interacted, and 725k of transactions, the buyers of these NFTs are bridging, swapping their assets or looking at others NFT projects.
Methodology
- Using Flipside Data Tables from Polygon (And Ethereum for CryptoSnoos)
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Because there isn’t NFT tables for polygon, it was necessary the use of:
- polygon.core.fact_token_transfers: To get the amount of WETH used in the trades.
- polygon.core.fact_event_logs: To get the tx_hash of the transactions with have the collection contracts.
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Because of that only WETH trades were included in the analyisis, and the rest were only counted for total number of sales.
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Respective Credits for some queries in their SQL.
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Contracts Used to identify reddits collections:
'0xfec90bc707fc93aefeb0c18c2eb56bc79d32163e', '0x91ac106090fe2b0fa7d01efdf4487a5bfafad7fa', '0x7e680862c572e4b945cf45912130c8d884109b59', '0xd5ae5a16fbaf964f96e242645a4a6f10b98fd0c4', '0x37db2523d221d19838632eb62d1af911e52632c3', '0x5fd4d6fef3b87b91c7df8658727b5edd7210cf5a', '0x45ee1caed83525673843321107bccadecb9065d7', '0xe1b5e23fdbc003aec16e6e79726a0b5f75ff93f5', '0xbcea6c4029203b8753c856a2514a6ed211c69777', '0x334ad326a787dd332f26cbe8b4d7adfa8bd25f92', '0xbc096988fa38c78d65c0637453fd3d3c38b1cfd4', '0x0985cb10c5d57dbf44aa473f33839ed38d80f111', '0x3e4627665bf2e52c69be03788e664ab545f2be71', '0x04f7a676af597f847053b6c02ed42d02fa4046aa', '0x79ef499463dae3cd413d78477fa848ecbbda774b', '0x81ba34b90876f42f34a4f232cfc0fe4b6ec949a3', '0x621ce7e7e44d43a428a183d5390c4f4572c9ff9d', '0x04125a97a0f2583cd485be2c34b651cc13c38a27', '0xdaa6e4ba2d4022ed820460bb501b9e061d9614fb', '0x3458161f2dc5d7eafa48e7c8d9acd7f415cf6da6', '0x04f087e3191d7a050800a2e04cb20046d2633e35', '0x8264e2bad3d2f7afd72a00233b9f841fe4b388cd', '0xddbdb65138131dbf2d01b4a5140e1979680c90bb', '0xc70a7496716b3e25546901fe88215531abbd5a10', '0x2e90e8af4c319095942c84cfa446e1f206795517', '0x150afa2dfcaaada471472dfa6ad4b79e718a197c', '0x83feea011baeb1c6d1df7d23903efad83d3c781f', '0x21d426e2b88fbf8b93adf0591a2d5b08d58f089f', '0xe4989961ebfdac3e65fcf0059c916452c77d8503', '0x6acb8fb82880d39c2b8446f8778a14d34ee6cfb7', '0xbfd670667053e517a97afe56c91e4f83f1160bd3', '0xb9c042c3275bc49799688eea1a29b1405d02946b', '0x466a330887bdf62d53f968ea824793150f07762e', '0x5846728730366d686CdC95dae80a70b44Ec9eAb2', '0xfbed9640e37666fe2ac78e1d263670976354cb69', '0xe0743141df04a6b9f3df890429cc994e46db03d9', '0x97439ee4c93ff9f76417696ce648aa6f35ab3b25', '0xf43bc3f4f1edb7d4c373c8510a2888d69d83ceb7', '0x425bf054ef7bad65b7bdd8e6587b1c3500e4f4ca', '0x2956409293da98603025cc0121c06a4244752039', '0xa7bb50d90b43752199c45be04053641c3cb5f53f', '0x47749c5b970e63f3a0ed57cd6cef773e74fafe9d', '0x838c1cd42929543daf9c3ef294fee8c1b3224b37', '0xc5aa1f91b0d52e26d2847f8e51f505d6e2ece795', '0xee1ee80338958fa596471ceb70f0177daff80323', '0x4670e4890bc1b76f3ae5c7660aa98e0b6668c6f3', '0x2d58a44d6c0a355de25761fb33a1f6269a97e2c5', '0xd8cf23bf309de778609d234bd2410b0156118c26', '0x91e51b92a2efea89bf1b6f66ad719737264724be', '0xd6261320f49d38c137f6e229a2ea4ab0f4fae6de', '0xfc190440e8f357ffe8a75940e7d8a291e165d019', '0x808ed3e23aac685126524aa4416d8eaeb2e767b9', '0x65a83530ca8abc27969907913fe5e641a5da2e9f', '0x6d1c3646e8cce8537e6ec9ecab26762bfaf1f891', '0x63e2f0c058ce9a194ec68f04320b7eb8ca555bd3', '0x45308788743bbdae5de7ba9e565c0502d0ebb81f', '0x907808732079863886443057c65827a0f1c64357', '0x8d0501d85becda92b89e56177ddfcea5fc1f0af2', '0x6ad08588568e258b2bdf065e7769fce398f68a1c', '0x946ad8e53db653053e8ef7c02dfca83ce8ba8022', '0x27b37e4befacc50b02102d1e2117c4ea8a54beff', '0x71dc46607f31f30510f0ccc670b0963f431b212a'
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