Reddit has become an unlikely Trojan horse, allowing former NFT haters to fully embrace digital collectibles and blockchain-backed PFPs just like any Bored Ape or cryptopunk-holding bro.
Redditors have used Reddit’s Vault blockchain wallet to create more than 3 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, Reddit’s chief product officer, Pali Bhat said at a TechCrunch conference last week. To put this in perspective, NFT marketplace OpenSea had 1 million active wallets as of January, according to a Dune Analytics report.
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