Daily mints by collections shows that The Singularity, Aww Friends, Drip Squad & Meme Team are the most popular collections.

Staying Users

If we agree that Reddit’s ultimate purpose of launching this NFT collections is to bring new people into Web3 (Training and educating your userbase to be ready for the future of internet), It is important to track how successful their actions been since the beginning.

In Charts below, You can see how many of staying users interacted with Polygon network and other blockchains after being introduced to Web3.

With Ethereum being the most popular to interact with, you can see some users already started to work with Arbitrum and Optimism blockchains which is a good sign. But there’s fewer than 0.5% of initial 2.8 million wallets had transactions after receiving their NFTs.

Another good sign is that those who stay, show a great interest and engagement level.

📜Introduction

🤓What are we looking for?

Takeaways:

• Nearly 3 Million wallets participated in Reddit collections mint and held an avatar.
• ~ 0.5% of these users have interacted with Polygon and some other networks after receiving their NFTs.
• More than 36k sales and 211 volume was recorded from the beginning.
• Highest avatar sold for 4.75 ETH.
• Some users also interacted with Ethereum, Arbitrum and Optimism blockchains.
• more than 50% of staying users have more than 100 transactions on polygon.
• Swapping is the favorite action and metamask is the most popular project.
• Kick Token is the #1 token (USD value) in all their holdings.
• Users also show interest in other NFT projects on OpenSea.

🤯The Case of Redditors

I’m sure you know that not everybody is as passionate as us when it comes to NFTs! you can see that in comments Web2 or other famous brands receiving when they announce their NFT plans. Reading them will convince you that NFTs are the only thing that is wrong with this world!

Reddit is the home of Anti NFT people, indeed. Just go there and search for any random NFT post and you’ll be surprised of the amount of hate that is being expressed!

Reddit owners know this better than anybody else, yet they managed not only to introduce their users to NFT world, but also making Reddit collection the top trading Opensea collection in a bear market where volume of NFTs is at its lowest historical periods!

They have done this unbelievable job by some interesting tricks like airdropping free avatars to their loyal users, designing a perfect and smooth mint and store process, and picturing the inevitable road to ownable digital assets as the future of online presence.

📝Methodology Notes

📌Basically, this dashboard is to see if Reddit’s bold move had any impact on onboarding new people to Web3. We will be exploring some areas to find about this:

• ==Minting & Trading activity on secondary sales which includes:==

• Total & Daily mints & Minters
• Daily Collection Mints
• Total & Daily Sales Transaction, Seller & Buyers Count
• Top 10 Collection by the number of sales and their respective number of buyers, sellers and unique traded NFTs
• Total & Daily Volume in ETH & Average & Highest Sale

• ==The Number of staying users and their presence in some other chains==
• ==The engagement level of staying users==
• ==Popular actions & Popular project of staying users==
• ==Other popular Polygon NFT projects among staying users==
• ==The top 20 popular tokens of staying users (Their Token and USD balance)==

📌This analysis is done for MetricsDAO bounty program using FlipsideCrypto database and application.

“==Staying Users==” indicates the users who have minted (and received) a reddit avatar NFT and had interacted with Polygon network after that.

“==Engagement Level==” divides staying users based on their number of transactions on polygon blockchain:

• Tx Count >=1 and < 10 ==> Low
• Tx Count >=10 and < 30 ==> Meduim
• Tx Count >=30 and < 70 ==> Good
• Tx Count >=70 and < 100 ==> High
• Tx Count >=100 ==> Expert

Most Charts will be refreshed on a daily basis, so you can come back to see if the Engagement Level or any other conditions has changed ever since or not.

😵‍💫 SQL

To Identify and Query mint Transaction:

Using polygon.core.fact_event_logs table, I filtered out transactions with Original_function_signature of “0x5a86c41a” and “0x669f5a51“. Having Event_inputs:_from as Null address means that this is a mint transaction, while having a Non-Null address indicate the seller on secondary market place. Also Event_name should be “TransferSingle“

I would like to thank author of this dashboard since I’ve read and learned code structure of Reddit mints from it:

Also thanks to Elvis#5877 at MetricsDAO discord for providing Reddit NFT Collection names and addresses.

🔍Data & Analysis

Definitely, the most interesting data, and one which a lot of people were talking when expressing the importance of Reddit move, is the number of wallets that minted and participated in this event. Almost 3 million wallets where all Opensea wallets after some years is still below this! You get the idea of how huge can be the enterance of Web2 companies into Web3 and crypto world!

Although daily counts show a clear downtrend of cooling down, but I expect a different path considering drops are stopped and there will be other collection drops later.

What do they do?

Looking at the most repeated actions, we can see that actions related to swapping are very popular. It is interesting that since these users are not familiar with dApps and ecosystem of blockchains, they tend to use metamask built-In swap feature the most. That’s why most popular actions are related to metamask router addresses.

• Transferring WETH, Interacting with OpenSea and Bridging using Hop Exchange are the next popular actions that worth mentioning.

• QuickSwap, SushiSwap & Aave are other interesting projects that these users have interacted with.

Already Into NFTs?

A good portion of staying users show interest in other Polygon NFT projects which you can see their names and numbers below. I think this is expected, and we should praise Reddit for choosing Polygon as their host so people can have cheap transactions and start experiencing without being worried about transaction fees. one thing for sure, if these collections were launched on Ethereum, the participation would be a lot lower.