---
title: "The Most Successful Web3 Launch in 2022"
description: "Discover how Reddit's Web3 avatar launch attracted 3.2M users and generated $11.4M in creator revenue, outperforming OpenSea and Axie Infinity in 2022."
categories: ["web3","product"]
keywords: ["Reddit Collectible Avatars","web3 launch","blockchain avatars","creator economy","OpenSea","Axie Infinity","NFT marketplace","digital collectibles","web2 web3 integration"]
ai_summary: "Reddit's Collectible Avatars launched in 2022, attracting 3.2M users and generating $11.4M in creator revenue, surpassing competitors."
date: 2022-11-23
lastmod: 2026-07-21
canonical_url: https://www.tomtunguz.com/the-most-successful-web3-launch-in-2022/
author: "Tomasz Tunguz"
---

What was the most successful launch of web3 in 2022? I think it's a project that deserves more visibility than it has received.


![image](https://res.cloudinary.com/dzawgnnlr/image/upload/zpluyvnjacbsqiuaikdn.png)

Reddit's [Collectible Avatars](https://reddithelp.com/hc/en-us/articles/6213835889044) launched in August 2022. Collectible Avatars allow users to buy profile pictures. They can sell these to other users if they like. Blockchain powers the experience.

The avatar trading [subreddit has an active dialog of current collections](https://www.reddit.com/r/avatartrading/).

The marketplace supports artists. Creators pay Reddit 5% for minting costs, but retain the remainder of the earnings, less payment fees from Stripe or Apple or Google. Plus, creators receive 5% royalties on every subsequent trade.  


Why is this the most successful web3 launch this year?

1. [3.2m Reddit users have a Collectible Avatar](https://dune.com/polygon_analytics/reddit-collectible-avatars). That's 10x more than the number of [Axie Infinity users](https://dune.com/zhai/Axie-Infinity-(AXS)-onchain-analytics), the game which captivated the web3 world this summer & [twice the number of OpenSea users](https://dune.com/rchen8/opensea)
2. The creator ecosystem is vibrant. 49 unique creators have drawn avatars. On average, a creator earned $189k gross revenue from the sale of their work. In all, users have spent $11.4m on supporting creators. 

2. The product blends web2 & web3 user experience. When you login to Reddit, you select the settings for updating your avatar, & you'll find the collectible marketplace. There you choose an avatar - a free one or a paid one. At that moment, the [point of maximum intent](https://tomtunguz.com/how-long-email-verification/), you create a blockchain wallet to store your new avatar. Users manage the web3 assets inside a web2 product so it feels familiar.
3. The experience retains its crypto-nativeness. It's possible to migrate your Reddit wallet to Metamask or other classic wallets.

The [biggest challenge facing web3 today](https://tomtunguz.com/the-change-in-crypto-revenue/) is how to bring new users & new dollars into the ecosystem. [User & developer counts are relatively flat](https://tomtunguz.com/state-of-crypto-2022-dunecon/). 

Experiences like Collectible Avatars bridge the gap between the web2 & web3 worlds in a way that's native to the product & community - which attracts  millions of new consumers to web3 & millions of new dollars.