Reddit is closing down its Collectible Expressions feature. This feature allowed users to create animated expressions using their Collectible Avatars NFTs. The change will take effect on August 5, 2024. After this date, users won’t be able to use Collectible Expressions in new comments, although they may still see them in older comments.
What Were Collectible Expressions?
Collectible Expressions were built on Reddit’s Collectible Avatars, which are NFTs on the Polygon blockchain. When launched, these NFTs gained popularity quickly. Polygon’s co-founder, Sandeep Nailwal, even suggested that Reddit had successfully cracked the NFT code with this launch. The Collectible Expressions feature offered users a way to animate their avatars, adding a dynamic element to their comments. However, this feature was available only in select subreddits, depending on community moderators.
A Dune Analytics dashboard shows that as of right now, more than 33 million Collectible Avatars have been created. These NFTs are worth $43 million in total on the market. There are premium and free versions of collectible avatars available, with the free versions accounting for the majority of newly created NFTs.
The Collectible Avatars Lead has announced changes for the Collectible Avatars community. It will now serve as an official announcement channel. This channel will share updates and plans for the future. Reddit promises new community partnerships, events, and activities, indicating that the Collectible Avatars ecosystem will continue to thrive despite the end of Collectible Expressions.
Reddit has previously scaled back on its crypto projects. In October 2023, the site phased out its Community Points reward tokens on the Arbitrum Nova network. Reddit cited issues with resources and regulatory concerns as reasons for ending the project. The Community Points system was later taken over by a decentralized group of Reddit users.
Final Thoughts
While Reddit is moving away from Collectible Expressions, the Collectible Avatars feature and its ecosystem remain active. The changes reflect Reddit’s evolving approach to its crypto-related projects, balancing innovation with regulatory and resource considerations.
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