Reddit has again caught the attention of non-fungible token (NFT) collectors. This time, teasing the crypto community by saying it’s rolling out Gen 3 Reddit Avatars today without taking action.
Quick Takes:
- Reddit said it will unveil its third generation of digital collectibles today. However, it is yet to reveal any information about the launch.
- The third generation of Reddit Avatars will, yet again, allow users to customize their profiles and create personalized digital identities on the platform — offering more customization options and wearables than before.
- Collectors are turning to Twitter to discuss their anticipation about the release and their thoughts about the digital collectibles.
Unearthing Gen 3 Reddit Avatars
Following the success of its initial NFT release last August, with some Avatars selling for $5k, Reddit is in the making of creating a unique and personalized experience for its users with customizable traits and gamification elements yet again.
The social hub took to Twitter to share the good news on April 4, creating anticipation for the launch of the digital assets:
Reddit initially said it’s going to launch its Gen3 collectibles today. However, little information about the debut has been revealed since. Collectors are taking to Twitter to discuss their thoughts on the matter:
The minting process of Reddit’s Gen 3 collectibles began April 5 using Polygon’s smart contract. Collectors will soon be able to switch their Reddit profile picture on the social media hub. By changing their social identity, they can stand out from other members of the website by emphasizing new expressions and modelling new gear.
However, regardless of the collectibles’ perks, this Web3 enthusiast appreciates Reddit’s digital assets over being called “digital collectibles” because of NFTs continuously receiving bad press:
Interestingly, according to this Twitter user, 90% of Reddit has no idea that their “cool free avatar gifts” are NFTs. And for that reason, “people are cool with it”:
Many Twitter members are saying these digital collectibles will likely sell out fast, following past popularity. Just three months ago, 60 Reddit NFT collections amassing a trading volume of $3.3 million.
However, others say there is a risk that the uniqueness and exclusivity that make NFTs so desirable may diminish. This is because there are more than 10.6 million Avatars already in circulation.
Regardless of the outcome, the interest in Reddit’s NFT collections highlights the potential for NFTs to change how we interact and show up in this digital age. The social hub has become a leader in terms of bringing NFTs to the masses.
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