Reddit launched NFTs and quietly onboarded millions of users

Reddit launched NFTs in July — digital avatars that people could use as their profile pics. 3M+ wallets were created for this, surpassing top marketplace OpenSea's 2.3M. The NFTs now have a $100M+ market cap. Reddit did this by tricking users into getting into NFTs, calling them Collectible Avatars, with no gas fees, and allowing credit card payments. Top Reddit NFTs are now worth ~7 ETH ($9,500).