Collaboration between the social media forum Reddit and the gaming industry giant Ubisoft has brought free avatar NFT claiming rights to users. The partnership was announced on May 26th and has created quite a buzz among gaming enthusiasts. The avatars in question feature the iconic Rabbids, peculiar white alien creatures that have become a trademark commercial property developed and published by Ubisoft in the mid-2000s.
First introduced in the video game “Raving Rabbids” in 2006, the Rabbids quickly gained popularity due to their mischievous and wildly energetic nature. Their unique characteristics prompted them to be separated from the Rayman character, leading to the creation of various games, TV series, and comic books centered around these quirky creatures.
Who knew a plunger was just what your Avatar needed? 🪠In partnership with Ubisoft, we’re bringing @RabbidsOfficial to Reddit! Get your Rabbids #RedditCollectibles now.https://t.co/e81Zn0Yr6S pic.twitter.com/1lKFUU0rrJ
— Reddit (@Reddit) May 25, 2023
Each Rabbids NFT collection includes seven different outfits with a common feature—a plunger, which is the primary weapon in the early Rabbids games, available in various styles.
Why did Ubisoft’s Rabbids choose Reddit as the platform for their NFT release?
At the time of writing, the NFT avatars “Plunger Rabbid,” “Raving Rabbid,” “Traveler Rabbid,” and “Unicorn Rabbid” have all been claimed. This stems from the explosive success of previous Avatar NFT collections on the Reddit platform.
In late 2021, with popular social media platforms like Twitter and Facebook exploring ways to delve deeper into the digital asset market, Reddit couldn’t stay idle. The platform took action by hiring staff to support design and development, preparing for the launch of its own NFT platform.
In January 2022, Reddit began experimenting with allowing users to set NFTs as their avatars.
After nearly half a year of testing, Reddit launched its NFT avatar marketplace on Polygon in July 2022, introducing the first collection of NFT avatars called “Collectible Avatars.” This marked a significant milestone for the social media platform as it ventured into the realm of digital assets.
According to data from Dune Analytics at the time of its launch, the number of NFT holders reached a staggering 2.8 million—a remarkable figure for an NFT collection at that time. The NFT sales volume reached $2.4 million, particularly noteworthy considering the period marked the decline of the NFT hype that dominated early 2022.
On October 25th, the Reddit Collectible Avatars NFTs continued to make waves, with the number of wallets holding Reddit NFTs surpassing those on the most popular NFT marketplace, OpenSea, reaching 2.834 million holders. The project’s market capitalization was estimated at around $100 million at that time.
On December 5th, 2022, the number of minted Reddit Collectible Avatars NFTs reached a new peak. Specifically, nearly 255,000 Reddit NFTs were minted on December 4th, setting a new record surpassing the previous record of over 200,000 mints on August 30th and 31st.
Two days ago, during an AMA session on Reddit, Sandeep Nailwal, the co-founder of Polygon, praised Reddit’s success in introducing millions of users to the world of crypto through NFT applications.
The aforementioned information demonstrates that Reddit users have been enthusiastic about the platform’s NFT avatar collections since their initial launch in July 2022. Since then, Reddit avatar NFTs have become one of the most prominent NFT launch events to date.
For NFT enthusiasts, the name Ubisoft is not unfamiliar. The renowned brand was one of the first validators for the testnet sidechain Ronin in the famous GameFi project Axie Infinity.
Moreover, as the GameFi trend approached its “peak growth,” Ubisoft stepped in to support blockchain gaming, providing many companies with an “escape route.”
Both Reddit and Ubisoft are currently thriving, driving strategies to enable users to own digital assets through NFTs. Thus, this collaboration is perfectly aligned with their goals.
Read more:
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- Reddit Unveils Third Generation Of Avatar NFT Gen 3 On Polygon