thenewscrypto.com
- Reddit Avatar 3rd generation drop is receiving positive feedback.
- Total number of Reddit collectible avatars is over 10 million.
Reddit Avatar’s Drop, season 3, is going to take place on the 10th of April. This announcement about the 3rd generation of Reddit Non-Fungible Tokens (NFT) is receiving positive feedback from the online discussion forum participants.
Reddit is deploying their new contracts, Gen 3 of the avatars are on their way!
by u/DrThunderHandz in CryptoCurrency
Launch of the first set of Reddit Avatar was in June 2021, and the sales were roughly $234K, which was 175 ETH. Although the price of the avatars ranged from $10 to $100. For the second drop, the platform joined with Polygon infrastructure. And it airdropped free NFTs on August 2022.
Though the initial drop will be in Reddit’s own marketplace, users can make secondary purchases on OpenSea. The free NFT drops were in four styles: Aww Friends, Drip Squad, Meme Team, and The Singularity.
Reddit Avatar’s Feedback
As per Dune data, the total number of Reddit collectible avatars is 10,615,730, with 7,310,157 avatar holders. And the market cap of collectible avatars is $74,528,925. People owning a single avatar are predominant compared to other frequencies.
After this recent drop announcement, the platform is receiving good responses. Few estimate the avatar to sell off within minutes. And others are providing a cautionary warning not to get stuck in FOMO. The immediate sales in the secondary marketplaces will consume more cost compared to the ones coming in later months.
As for artists, Reddit is inspiring budding talents to get credit and value for their works.
The platform states:
“Our goal has been to empower artists to create and sell their work.”
The platform has also been maintaining a log of the creators and their work through the creator waitlist.