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, teasing “Gen 3 wen? Gen 3 then”:
Since then, the social media hub revealed that it will 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:
All we know is that these new collectibles are in the making. The minting process of Reddit’s Gen 3 collectibles began on April 5 using Polygon’s smart contract.
Consequently, 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 website members by emphasizing new expressions and modeling new gear.
However, regardless of the collectibles’ perks, this Web3 enthusiast appreciates Reddit’s digital assets over being called “digital collectibles” because NFTs continuously receive lousy press:
Interestingly, according to this Twitter user, 90% of Reddit has no idea that their “cool free avatar gifts” are NFTs. Another user said that, for that reason, “people are cool with it”:
Many Twitter members believe these digital collectibles will likely sell out fast, following past popularity. For example, just three months ago, 60 Reddit NFT collections amassed 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 bringing NFTs to the masses.
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