The Reddit platform plans to release a new collection of NFT avatars. The tentative release date is April 10.
The r/CryptoCurrency subreddit announced the third generation of NFT avatars. They will be released on the Polygon blockchain platform. 74 artists took part in the collection, 47 of them working on it for the first time. The total number of tokens hasn’t yet been disclosed.
To use the tokens, you must register a Reddit Vault crypto wallet. It’ll be possible to pay for NFT avatars in fiat money via Apple Pay, Google Pay, and Paytm, as well as by bank cards. According to user expectations, the new collection will provoke FOMO and be sold out “within minutes. “
CollectibleAvatars Reddit first launched in July 2022, when it minted 40,000 non-fungible tokens. Since then, according to the Dune service, the total cap of NFT avatars on Reddit exceeded $74.5 million, and more than 7.3 million users already own them. What’s more, the total volume of transactions on the secondary market is nearly $14 million.
Reddit has a consistent policy of introducing Web3 elements to its platform. For example, in late 2021, the platform’s administration expanded the possibilities of issuing cryptocurrencies for subreddits.