Reddit NFT Marketplace Launch Spurs Massive Acceptance Of Its Crypto Wallets

Reddit users have opened over 2.5 million crypto wallets on the platform ever since the social network released its NFT marketplace in July.

Reddit boasts of 50 million daily active users and has grossed over $350 million in earnings last year.

The social network’s NFT marketplace requires users to set up a Reddit Vault Wallet to purchase and store tokens.

The wallet allows users to manage community points stored on-chain that can be used for various in-app purchases.

In July, Reddit opened its NFT marketplace to the public, ahead of its August airdrops to users with high karma across four Snoo-based collections.

As the total number of wallets is roughly 3 million, it’s clear the interest in owning these NFTs is driving adoption.


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