Reddit Showcases Game-Changing Gen 3 NFT Avatars on Polygon
Reddit which is an online discussion platform stepped forward by launching the third iteration of its blockchain-powered digital collectibles called ‘’Reddit Avatars,” directly over the NFT Avatars polygon blockchain. This created a buzz among collectors and distributors and community members.
Key Takeaways:
- Reddit launched Gen 3 Avatar on Polygon, generating buzz among collectors and distributors.
- Avatars were designed to showcase and sell artists’ work, and have generated substantial sales and revenue.
- The payment process for NFT downloads may hinder sales, but Reddit’s marketing expertise has the potential to sell out quickly.
- Despite concerns, Reddit’s NFTs surged in trading volume, reaching $3M in value and accounting for almost a third of the total $4.1M volume in one day.
- Deployment of Gen 3 NFT avatar contracts on Polygon expands Reddit’s NFT offerings, providing new opportunities for artists and collectors in the NFT market.
These Reddit-free NFT avatars launched by Reddit were first unveiled in July 2022. These were originally designed to give aspiring artists an equal chance to showcase and sell their hard work.
Also, when any user will make an online purchase of a collectible, this will pop up as an avatar on the platform. These NFT Avatars were live and available on the website since August 2022 and surprisingly have generated substantial sales and revenue for the artists involved.
Official Collart shared a Twitter post announcing the big hit of NFTs by Reddit, as Reddit deployed Gen 3 NFTs avatar:
After launching the contract for the third-generation avatars on the Polygon blockchain on April 5, Reddit became the talk of the town as it was predicted that these avatars would sell like hotcakes.
The release of the third generation of avatars has generated significant buzz among the community, with many users eagerly anticipating the drop. However, there are concerns that the payment process for this NFT avatar download may be challenging, potentially hindering sales.
Some praised Reddit’s marketing and branding expertise, while others expressed their excitement, noting that the new drop had the potential to sell out quickly, just like the first two generations.
Plus, the campaign run by Reddit to buy Reddit avatar NFT for marketing avatars was praised by the majority of users resulting in shifting the narrative around NFTs, while other anti-NFT become fans of the technology with a lot of support.
While some are eagerly anticipating its release, others are skeptical about its potential to sell quickly due to the “cumbersome” payment process.
Mr. Legend Crypto shared how member gave their response to this new launch and praised the platform for its efforts:
Despite raising concerns, Reddit Nfts managed to create a surge in trading volume, reaching an all-time high in October 2022, with wallet holders nearly reaching $3 million in value. The collection managed to score 1.5 million in trading volume in one day, accounting for almost a third of the total $4.1 million volume.
Moreover, the collection paved its way to the top 10 collections on the open sea with top sales on the charts in a week as of October 26. Overall, Reddit’s deployment of Gen 3 NFT avatar contracts on Polygon is poised to further expand the platform’s NFT offerings and provide artists and collectors with new opportunities to participate in the NFT market for NFT avatar makers.