INTRODUCTION

Non-fungible tokens (NFTs) don't necessarily originate in the areas you may think. Reddit, a social news website and forum, is one platform that has demonstrated a desire to give its members simple access to NFTs. In fact, Reddit has been a strong advocate for the cryptocurrency sector, as seen by its decision to accept cryptocurrencies as an alternative payment mechanism for in-app purchases back in 2013.

Reddit has throughout the years added a number of features to its community that suggest the site will expand its support for the NFT business in the years to come. It even just debuted its own line of NFTs that are distributed without charge.

An avatar that may be acquired on the Reddit avatar market is a Reddit NFT. Redditors may purchase blockchain-based pictures on this marketplace for a predetermined price. There are numerous distinct sorts of Reddit NFTs now accessible, including NFTs created by independent authors, the newest free NFTs, and CryptoSnoos. As previously established, Reddit NFTs are collectible avatars made by independent artists right on the Reddit site. Most of these NFTs are available for purchase on OpenSea or Reddit. Every NFT has a set price because there is no auction.

The following four types of free Reddit NFTs are available:

The Singularity: 13,950 coins have been produced as of August 20, 2022.

5,488 Aww Friends have been produced as of August 20, 2022.

3,138 Drip Squads had been produced as of August 20, 2022.

5,460 Meme Teams had been created as of August 20, 2022.

For more info refer:

METHODOLOGY

As we now got an introduction about the Reddit NFT tokens, now the comparison and analysis are being done. Hence Initially, the total transactions in the Reddit NFTs are calculated along with the total buyers,sales ,volume as well as price. Now, the sales volume, median price , and the buyers of the Reddit tokens are also determined over time and charted. The timely analysis of the Reddit NFT is also done for the Ethereum network, Now the comparison for polygon and Ethereum network are also compared. The events where the Reddit NFTs are sold are also seen. The recipients of the Reddit NFT over time are also charted. The difficulty is also accounted for in the analysis. Now with other NFTs as a scale, the sales count, the buyers, and the collection are also considered. The mint count of the Reddit NFT tokens is charted and the comparison with the other NFTs in the polygon network

The overall Reddit NFT activities can be found from these chart. Here the total NFT transactions, sales , buyers as well as the volume is also determined. These are done for the polygon network and it seems the sales is pretty good.

The maximum and the median price of the Reddit NFT are calculated and charted here and it is seen that in recent days the price of the Reddit NFT has managed to be in a stable position which is higher than the lowest in the time scale. But is also for a week and hence the trend seems to have a huge hike and drops as the fluctuations seem to be quite soaring.

Sales volume over time is charted here and it is seen that the volume less in the very recent days even though the time period is last week.

The Reddit NFT sales are charted here and hence it seems that the sales count over time is also similar to the volume with a few tokens sold in recent days and it is seen that the highest sales are on October 24,2022.

Reddit Buyers over time is calculated and charted here and the trend of the reddit NFT buyers are charted here and have the similar trend as the sales as it is directly coordinated.

The chart here indicates the sales, the buyers’ volume as well as the price of the Reddit NFT in the Ethereum network over time while the previous charts were for the polygon network. It is seen that the buyers are comparatively a bit higher than in the Polygon network.

The events where the transactions of the Reddit NFTs were made and it is seen that Transfer event has the more number of transactions while the less is for ApprovalForAll,Also there is an event where the name is not mentioned has also quite good transactions.

The recipients of the Reddit NFT tokens are charted here an it is seen that October 20 has the highest recipients with 4716 recipients over time and it is also seen that in the beginning of the month of October, the count of the recipients were very less in the history.

Difficulty of the Reddit NFT token minting is seen here and unfortunately no data is available for this month but the trend has been seen that the difficulty is very little.

The collection of the Reddit tokens with the other NFTs over time is charted here and it is seen that Reddit NFT has a considerable amount of sales even though it is not big scale to compare with all other NFTs.

The sales count of the Reddit NFT with other tokens are charted here and it is in correlation with the sales that October 24 has the highest sales in Reddit NFT which can be considered that almost 10% of the sales correspond to Reddit while in comparison with the other tokens.

The total buyers over time in the Reddit NFT over other polygon NFTs are taken here and charted and it is seen that the buyers are a bit fewer while in the previous week, there was an appreciatable count.

The total mints count of the Reddit over time with the tokens are charted here and it is seen that the minting of the Reddit token as been in a decreasing trend.

The pie diagrams here show the average count of the Reddit NFT tokens, the buyers as well as the average sales count of the same in comparison with other NFT tokens in the polygon network. It is seen that comparatively, the Reddit NFT has a considerable amount of sales when considering the whole NFT tokens.