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Reddit has introduced it’s going to quickly shut down Collectible Expressions — the animated model of its Collectible Avatars non-fungible tokens (NFTs) on the Polygon blockchain.
In accordance with Reddit’s Assist web page, help for Collectible Expressions will finish on August 5, 2024.
Collectible Expressions have been launched for Collectible Avatar holders, permitting customers to make use of them in feedback the place moderators enabled the characteristic. Regardless of the discontinuation, Reddit’s involvement with NFTs is much from over.
A brand new publish from three days in the past launched a brand new Collectible Avatars lead who “will be investing more time into the community” with “some thrilling new updates and plans to share.”
Reddit’s journey into NFTs started in 2022 with the launch of a market for NFT-based avatars, permitting customers to buy blockchain-based profile footage.
Over time, the platform launched numerous limited-edition avatar NFTs, usually in collaboration with different entities. For instance, final yr, Reddit partnered with the NFL to create themed collectible avatars celebrating Tremendous Bowl LVII.
Moreover, the platform launched its fourth era of NFT avatars, that includes characters impressed by the Cool Cats collection.
These efforts have confirmed profitable, as evidenced by information from Dune Analytics. Reddit’s Collectible Avatars have generated over $534 million in complete gross sales quantity, with greater than 37 million Collectible Avatars distributed to 33 million holders.
