The social media platform Reddit, famous for its role in the GameStop stock squeeze, is now having a similar influence on non-fungible token (NFT) adoption. Last week, the message board platform revealed that users had created over 3 million Polygon wallets. As a result, the secondary market sales for Reddit’s Collectible Avatars NFTs jumped 800% in the past week. Spooky Season is the latest NFT drop selling out with Reddit users and leads our list of NFTs of the week.
• Sales of Spooky Season NFTs go up as Reddit onboards millions.
• Dreadfulz storms up the NFT sales charts with scary Halloween characters.
• Killabears wants holders to earn with a “Stake-cation” at its Kilton Hotel.
Spooky Season is a new collection of avatars created by Reddit user Poieeeye, as part of the social media platform’s move into NFTs and avatars. Spooky Season has been a big hit with users of the message boards, selling almost 1,500 avatars for $1.4 million with a floor price of 0.17 ETH ($260). The secondary market sales for Reddit’s Collectible Avatars have risen 800% in the past week.
Reddit’s new digital collectibles have been a revelation with the platform onboarding millions of users seeking to customize their avatars. Twitter and Meta Platforms both tried to gain user support for NFTs but it looks like Reddit may have found the right combination for social media and Web3.
Nouns is an Ethereum-based collection that is also targeting an avatar theme. The collection saw its sales surging 488% over the last 7 days to $430,000.
The exciting part of this collection is that the NFTs are only dropped one at a time, over a 24-hour period, which the project says is forever. That is why weekly sales of Nouns are currently at 1 item, with a price of $70,000. The development team at Nouns says the NFTs are an experiment to improve the current state of on-chain avatar communities.
"Cryptopunks have attempted to bootstrap digital community and identity, Nouns attempt to bootstrap identity, community, governance, and a treasury that can be used by the community," the project's website states.
Dreadfulz is an Ethereum-based collection of 7,777 scary characters that are seeing a sales surge ahead of Halloween.
The project has a multi-stage roadmap in place with holders able to stake their NFTs for DREAD tokens and get ownership in the staking vault. The "DAO of the Dreadfulz" will follow and be used for decentralized autonomous organization (DAO) members to vote on initiatives that aim to expand the wealth in the DAO. NFT holders will later be able to claim a full-body 3D avatar to plug into compatible metaverse projects.
Dreadfulz rose by a huge 164,000% over the last week and each has a floor price of 0.015 ETH ($23).
Killabears is a collection of 3,333 NFTs designed, animated, and randomly generated on Ethereum by Mexican artist Memo Angeles. The project was done in collaboration with hit games developer Umbrella Games.
Killabears holders can participate in exclusive events, such as NFT drops, raffles, giveaways, and more. Killabears can be also staked with a “stake-cation” at the Kilton Hotel and these will offer rewards after a 30-day staking period.
Killabears saw a sales rise of 87% over the last week with a floor price of 1.55 ETH.
Street Machine is a new Web3 anime brand and NFT collection by award-winning video game artist SpenzerG. Each NFT is hand-drawn by the artist himself with over 500 unique traits.
The collection of 8,000 NFTs reached $1 million in sales this week with an 11,000% rise. Street Machine plans to create an online graphic novel with the help of its community and the NFTs will be a character within the sci-fi, cyberpunk, and anime world.
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