Reddit Recap 2022 Collectible Avatars NFT Statistics
Findings about the most active NFT project on the Polygon PoS network
Reddit Recap 2022 Collectible Avatars
The Reddit NFT minter shared among all the Collectible Avatar contracts is currently the #1 address in the charts for both "Top Gas Used" and "Top Txn Count" for the ENTIRE Polygon PoS network, and has been for at least the past 7 days (and probably much longer).
This is even more amazing considering that among the top 20 accounts, only the Reddit Minter is using batch transactions. So it’s already saving 50-75% on gas fees and combining ~110 transfers per transaction on average. It has made more transfers in the past week than the other top 20 accounts COMBINED.
This is just a collection of random interesting facts I've found about the Reddit Recap 2022 Collectible Avatars (and the other Reddit NFT projects), which only started distributing 3 days ago.
Efficient Batch minting
All the ERC-1155 Reddit NFTs being minted right now by Reddit are using batch minting to save on Tx fees by using less gas.
Reddit is minting up to 200 NFTs at a time at 6M gas, which is about 30k gas per NFT. That's currently $0.001/NFT mint.
This is about a 50-75% savings in gas compared to the usual single-minting. For example, Token ID 5320581 of the same collection was single-minted at the cost of 65k gas. Minting NFTs on other less-efficient contracts can cost as much as 120-150k gas, so this is an extremely-efficient minting.
30k gas per mint is the equivalent of doing 250 TPS for minting on Polygon PoS (or 42 TPS if this were Ethereum mainnet)
Collectors and NFTs
Over 3 days, 950,000 ERC-1155 tokens have been deployed at the cost of ~$1300 to Reddit. The contract is still minting hundreds of NFTs per minute non-stop.
All the ERC-1155 NFTs are being stored on IPFS (deployed using Infura as a gateway)
The NFTs were given away and minted for free by Reddit to their members. The NFT image each Redditor received depended on which subreddits the Redditor frequented the most. They have unique token IDs but do not have unique images.
Currently, there is 1 whale with 50 NFTs
There are 13 others with 10+ NFTs
The first 3 tokens minted in the Recap collection: World Travelers, Enlightenment Seekers, and Coin Collectors
First token minted (ID 1) was deployed 9 days ago, but the transaction failed. Otherwise, it would've been this World Travelers #2 NFT. (It was later re-minted in a batch transaction.)
First successful token minted, Enlightenment Seekers #1, was deployed 6 days later at a random ID 5320581 with this image. But it was burned 2 days later. This was likely a test mint. (It was also later re-minted in a batch transaction.)
First real token possibly minted for a Redditor, Coin Collectors #1, was ID 1407989, with this image. While other tokens were all batch-minted, this one is unique in that it was single-minted. I don't know who owns this address, but it must be someone really special since the other #1 NFTs all used batch mints. (This address also received MOONs for the first time 2 days ago, but doesn't have any activity at all.)
On OpenSea
Only 0.06% of the token have been listed on OpenSea for sale.
The most expensive sale was Anime Kids #1. That's a good-looking one, and I might just steal it.
Cheapest one is at 0.0013 ETH or $1.50
A total of 13 ETH has been spent on trading the tokens.
Contract deployment gas savings
The Reddit Deployer address responsible for deploying all the collectible avatar contracts over the past year has deployed ~150 collection contracts.
The Recap 2022 Collectible Avatars contract was deployed by the Reddit Deployer for 586k gas, or $.02 of MATIC at the time. That's insanely cheap. Its deployment used 80% less gas than a normal-sized NFT contract.
The reason it used less gas is because it's using an EIP-1967 Proxy contract for its implementation, which took 4.4M+ gas to deploy, currently $0.12. This is the same proxy contract that was used to deploy the other set of free NFTs we received 4 months ago.
Since multiple avatar collections share the same logic, it makes sense for them to all reference that one Proxy Contract. Using proxies saves gas when deploying new collections since the gas-expensive proxy contract only needs to be deployed once and can be shared by many different collection contracts. More importantly, it also helps organize the logic of the contracts and makes them upgradeable. Usually calling other contracts costs more gas, but if you're using batch minting, the call cost is negligible.
For the record, the MOONs tokens contract is also upgradeable, for better or worse.
Equivalent EVM transactions on Polygon are still about 50-100x cheaper than on EVM-compatible Ethereum Layer 2 rollups like Arbitrum One and Optimism.