Reddit continues scaling its avatar series with the release of the long-awaited Gen-4 of its Polygon-based Avatar series featuring several renowned artists and popular NFT collections.
The Gen-4 Avatar series, dubbed ‘Retro Reimagined,’ comprises 100 unique designs featuring the works created by Nyan Cat creator Chris Torres, Reddit avatar illustrators Jas and Petio as well as the avatars based on the Cool Cats’ project, and Micah Johnson’s Aku character. There were three avatars in the Cool Cats style, including Blue Cat and Chugs, Shadow Wolf, and C4T Monitor which was sold out straightaway. Prices for the limited-edition drop range from $2.49 to $199.99 per piece, appealing to all collectors. Not only the C4T Monitor but other avatars are already selling out fast as at the time of writing this report.
Meanwhile, Reddit has made some modifications to this series to impact collectors' experience. Specifically, for the first day of release, account age, and other metrics were taken into consideration, and restrictions were placed on the number of pieces collectors could acquire at once. With this approach, the social media platform aims to prevent newly-created accounts from purchasing collectibles in bulk for flipping. Other changes include a $3,000 daily purchase cap during the first day of initial access and the introduction of anti-bot measures such as CAPTCHA.
Reddit started releasing its Avatars series in July 2022. The collection quickly gained popularity, with the first 40,000 NFTs sold out. These Avatars are only now available for purchase via the secondary market, highlighting their growing acceptance and popularity. According to a Polygon Analytics Dune Dashboard, 18.28 million avatars have been minted, with more than 14 million holders and a market value of over $54.61 million.
Meanwhile, the launch of the Gen-4 Avatar series further highlights Reddit's dedication to leveraging NFTs to enhance users' experience and foster a growing community that brings artists and users closer.