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Reddit's collectible avatars have the most decentralized distribution in crypto

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by COINS NEWS 99 Views

Thought it was interesting to see that Reddit's collectible avatars have perhaps best achieved to date one of the big goals in crypto of having a decentralized distribution. I don't think there's any other project in crypto that has this many holders and has >99% unique users. Even the purchasable creator Reddit avatars from the shop are surprisingly decentralized. If you look at Opensea its very common to see that in most other collections they are held by a small group of whales. Checking https://opensea.io/rankings right now you'll see that in most projects there's less than 50% unique owners. The Reddit avatars from the shop have a staggeringly high % of unique owners by comparison (high 80s-90s).

It will be interesting to see what more happens with this project in the future. I would be especially curious to see how things play out if there were to be a form of decentralized governance put in place. It would really be a unique experiment in Crypto where votes are tied much closer to unique individuals rather than to hashpower or existing wealth.

submitted by /u/Azcrael
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