Subscribe to our newsletter!
Editing by Nathaniel Cajuday
- Reddit has announced the launch of the third generation of its Reddit Avatars, the NFT collection of the social media giant.
- The collection, which has a total of 10.6 million NFTs, was made by over 100 NFT artists with various themes and styles to encourage and attract a larger base of collectors.
- This made the collection have more distinct details and features than the previous two collections released by Reddit as artists were given the go signal to pursue their creative styles as long as their artwork fit within the template frame of Reddit’s Snoo character.
Regardless of the ongoing bear market, Reddit is not holding back with its non-fungible token (NFT) efforts, after the social media giant released the third generation of its digital collectibles on April 10, 2023, with a total of 10.6 million NFTs.
Reddit’s Gen 3 NFT collection has expanded the number of artist collaborators on the platform. For this collection, over 100 artists worked on their limited edition designs, which featured various themes and styles. The wide variety of this drop aims to encourage and attract a larger base of collectors.
The collection also seems to have more distinct details and features than the previous two—which was permitted by the platform; artists were given the go signal to pursue their creative styles as long as their artwork fit within the template frame of Reddit’s Snoo character.
Reddit’s NFTs and platform are based on the Polygon (MATIC) blockchain. As of writing, there are still several avatars that are up for grabs.
The platform’s NFTs or digital collectibles are most commonly known as “Reddit Avatars.” Reddit’s NFT avatars were first introduced last June after it released CryptoSnoo, a collection based on the platform’s logo, Snoo.
Reddit’s Gen 1 was released sneakily in July 2022, and they were only able to sell out their premium collection after a month of trading. Aside from this, Reddit also randomly airdrops users with high karma across four Snoo-based collections: The Singularity, Aww Friends, Drip Squad, and Meme Team. After then, in August 2022, Reddit partnered with layer 2 blockchain Polygon to create a marketplace for digital collections.
Gen 2, on the other hand, was a hit. The collection was released in September last year, and it sold out fast. In fact, a pair of Reddit avatars was sold for 4 ETH each (approximately ₱307,000.00) on September 21, 2022. The collections reached a new all-time high with a trade volume of $3 million on October 24 last year.
Moreover, Reddit Chief Product Officer Pali Bhat revealed that over three million users of the platform have used Reddit’s Vault blockchain wallet to create crypto wallets, of which 2.5 million were created to purchase Reddit avatars.
How to Buy Reddit Avatars:
- Step 1: Set up a wallet. Buyers can either use self-custody wallets like Metamask or Reddit Vault.
- Step 2: Load the wallet with cryptocurrencies applicable to the marketplace.
- Step 3: Visit the Reddit Marketplace or OpenSea.
- Step 4: Make the purchase.
How to Display Reddit Collectibles:
- Step 1: After buying, check if the purchase went through.
- Step 2: Have a collectible or background equipped.
- Step 3: Go to profile.
- Step 4: Tap the new carousel cards to enable collection displays.
This article is published by BitPinas: Reddit Releases 10M Gen 3 NFT Avatars
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.