Top NFT stories from last week: Silks and Reddit Launch Successful Avatar Collections

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Avatars are a key part of metaverse ecosystems, representing players in the virtual world. Many NFT collections release their avatars as one of the early steps toward building a userbase, but not many see strong success. It’s clear that avatars of solid collections are attracting buyers even with the bear market.

Both the Silks and Reddit collections are significant for different reasons. The latter is a collection from a major social media platform, which has the potential to bring in many who are on the fence about NFTs. It has managed to generate $2.5 million in a single day with over 32,000 in total sales.

Reddit’s collection is called CryptoSnoos, which set the market alight. It offers such benefits as unique profile animations and the ability to use it off the platform. It has stirred up an interest in NFTs once again in the market, as Reddit is such a well-known platform.

Silks is a notable case for a different reason: the collection is a gateway into one of the most innovative metaverse projects in recent times. The game mirrors the real world of thoroughbred horseracing, with the players present in the world through their avatars - digital jockeys. The many gameplay mechanics and the fact that events in the real world affect the metaverse are what are leading buyers to Silks Avatars.

Players are required to buy Silks Avatars - some of which remain - in order to play in the metaverse. Being a unique project can be a bit of a double-edged sword as collectors may not want to try something so far out of the left field. However, the fact over 65% of Silks Avatars (of which there