Reddit Brings In Good Karma With Gen 4 Collectible NFT Avatars

Reddit has released its Gen 4 Collectible Avatar series, an expansion of its limited-edition non-fungible token (NFT) collection. The new release, titled "Retro Reimagined," features colorful interpretations of the platform's iconic "Snoo" character and aims to evoke feelings of nostalgia. The collection includes designs from 100 independent artists and popular NFT collections like Cool Cats. The NFTs are based on the Polygon blockchain and are priced between $2.49 and $199.99.

To ensure a smoother rollout and prevent bot activity, Reddit has implemented anti-bot measures such as CAPTCHA. They have also introduced "initial access" on the first day of the release, which limits the number of collectibles a user can purchase based on account age and other metrics. During this period, collectors can spend up to $1,000 and have a one-purchase per collectible avatar limit. After the initial access period, the purchase restrictions will be lifted, but a $3,000 daily purchase limit will remain in place.

The previous NFT collection from Reddit, launched in April, faced some issues with bots, so the platform has taken steps to mitigate such problems this time.

As of now, there are over 14.2 million unique holders of Reddit Avatars, with a total market cap of $57 million and over 18 million collectible avatars in circulation. The popularity of NFTs on Reddit continues to grow, making these limited-edition collectible avatars highly sought after by users on the platform.

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