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Reddit launches fourth generation of NFT collectible avatars

The collection is titled Retro Reimagined, with Reddit having taken magnified security measures to ensure smooth launch

Shashank Bhardwaj
Published: Jul 31, 2023 08:46:03 PM IST

Reddit launches fourth generation of NFT collectible avatarsImage: Shutterstock

Twitter’s rebranding to X and Zuckerberg’s Threads have been the talk of the town for crypto enthusiasts for days now, but now the attention shifts to Reddit. The social media platform in question has come out with the latest generation of its NFT Collectible Avatars, reimagining the iconic ‘Snoo’ character associated with Reddit.

Appropriately titled “Retro Reimagined”, The collection is reportedly meant to infuse collectors with "warm, fuzzy feelings of nostalgia”. It brings together designs from about a hundred independent artists and well-known NFT collections like the Cool Cats.

The NFT collection was launched on July 26, 2023 at 3 pm EST, as per an official announcement made on r/CollectibleAvatars. Notably, Retro Reimagined makes for the fourth generation of the collectible avatars launched by Reddit, with the first having been launched in July 2022. The launch came once again on the Polygon blockchain, and the NFTs are available for decentralised trading as well as third-party sales.

To fortify this latest collection of Reddit NFTs and ensure user safety, the developers are taking anti-bot measures like CAPTCHA. Further, Reddit also integrated a limit on spending, and specified an “initial access” period on the day of the launch to limit the number of NFTs a user can purchase at once.

As of right now, there are over 14.5 million holders of Reddit’s NFT avatars.

Going back to Twitter and Threads, millions of users were rapidly onboarded on the latter upon launch, with the microblogging platform reaching one million users within just one hour of release, creating new records. However, the crypto and NFT communities all over the world so far don’t seem eager to make the switch from Twitter (or X) to Threads.
It’s to be noted that Twitter has been a long standing home for the burgeoning crypto sector across the globe.

Which of the two platforms provides more convenience to crypto users for networking purposes is yet to be seen, but with renowned social media applications like Twitter and Reddit making waves in the crypto space, digital assets are sure going mainstream faster than ever before.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash