Redditors Have Created Millions of Crypto Wallets To Buy NFT Avatars

An anonymous reader shares a report: In July, Reddit jumped on the NFT train, launching an NFT-based marketplace that allows users to purchase blockchain-based profile pictures for a fixed rate. Given the general sentiment around NFTs today, you might assume -- like me -- that the experiment ended poorly. But the opposite's the case apparently.

Today during a panel at TechCrunch Disrupt, Reddit chief product officer Pali Bhat revealed that over three million Redditors have used Reddit's Vault blockchain wallet to create over three million crypto wallets to date. Most of those -- 2.5 million -- were created to purchase NFT avatars that can be used as profile pics on the platform, he said.

Read more of this story at Slashdot.