- Reddit is discontinuing its Collectible Expressions feature which created animations based on users’ Collectible Avatars NFTs on the Polygon blockchain.
- Over 3.3 million Collectible Avatars have been minted to date with a market cap of $4.3 million, according to a Dune Analytics dashboard.
- While sunsetting Collectible Expressions, Reddit announced new community partnerships, events, and activities are planned for its Collectible Avatars ecosystem.
Reddit is discontinuing its Collectible Expressions feature which created animations for Collectible Avatar NFTs on the Polygon blockchain. This change will take effect in August 2024.
What are Collectible Avatars and Expressions?
Reddit launched its Collectible Avatars as non-fungible tokens (NFTs) on Polygon. The avatars have been hugely popular with over 33 million minted so far.
Collectible Expressions are animated overlays that can be added to the Collectible Avatars. They bring the static avatars to life when used in comments.
Why is Reddit Removing This Feature?
Reddit cited concerns around resourcing and regulatory issues as reasons for removing Collectible Expressions.
A newly appointed leader for the Collectible Avatars project also indicated the expressions would be discontinued and teased upcoming plans and partnerships.
What’s Next for Reddit NFTs?
While Collectible Expressions are being removed, Reddit reiterated that the Collectible Avatars ecosystem remains strong.
The team plans to introduce new partnerships, events and activities. They aim to continue growing the NFT community on Reddit.
Conclusion
The demise of Collectible Expressions marks the end of an era for NFT innovation on Reddit. However, with promising plans in the works, Reddit appears committed to NFTs in the long run. The social network will be hoping to recapture the initial buzz around its Polygon avatars.
