The most recent announcement by Reddit about its third-generation digital collectibles, named “Reddit Avatars”, has generated combined responses from the group.
Whereas some members are delighted in regards to the launch, others have expressed their frustrations.
The introduction of the brand new assortment, comprising 10.6 million items, has raised issues amongst critics who worry that the elevated provide may result in a dilution of the collectors’ holdings.
Reddit’s third-generation NFT assortment divides group
Furthermore, some skeptics argue that NFTs are nonetheless in a bear market, and there’s no must inflate the availability.
Nevertheless, supporters of the transfer level to the excessive demand for the earlier generations, which bought out shortly.
Within the final 90 days, the 60 completely different Reddit NFT collections noticed a big quantity of 1,820 ETH, indicating that there’s nonetheless loads of demand for the Reddit Avatars.
Reddit partnered with Layer 2 blockchain Polgyon in August 2022 to create a market for digital collections.
The preliminary 40,000-piece assortment of avatars bought out shortly, with a mixed market cap of roughly $74m, and the best assortment value ground is 1.05 ETH.
The third-generation Reddit Avatars are set to be launched on April 10, and it stays to be seen whether or not they are going to be as profitable as their predecessors.