Reddit uses Polygon Gen 3 NFT avatars

Several users, however, praised Reddit's marketing strategy for successfully shifting negative opinions about the NFT to positive ones.

Reddit uses Polygon Gen 3 NFT avatars
Reddit uses Polygon Gen 3 NFT avatars

Reddit has launched the third generation of its blockchain-based digital collectibles branded “Reddit Avatars” on the Polygon blockchain, prompting community members and collectors to comment on the eagerly awaited release.

In July 2022, nonfungible token (NFT) avatars were created to let artists produce and sell their work. Also, once a person purchases a collection, it may be set as their avatar on the Reddit website. The avatars were made accessible in August 2022, earning the artists thousands of dollars in revenue.

Reddit released the contract for Gen 3 avatars on the Polygon blockchain on April 5. Hence, some users predicted that the avatars would sell out within minutes, while others praised Reddit’s marketing and branding abilities.

One collector who participated in the collection of the first and second generations of avatars expressed enthusiasm, stating that the latest drop may sell out “within minutes.” However, some users lauded Reddit’s marketing campaign for effectively turning anti-NFT members into neutral or pro-NFT ones.

Reddit uses Polygon Gen 3 NFT avatars
Community members sharing their thoughts on the digital collectibles. Source: Reddit

Although some are ecstatic about the release, others feel it may not sell as quickly as anticipated, citing the “cumbersome” payment method.

Reddit’s non-fungible tokens have seen an increase in trading volume. On October 24, 2022, the collection’s transaction volume achieved a new all-time high as wallet owners approached $3 million. In those 24 hours, the volume reached over one-third of the total volume of $4.1 million, or $1.5 million. On Oct. 26, the collection was also among the top 10 collections on OpenSea for the week with the highest sales.


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