The leader of Reddit’s avatar NFT product has quit, raising questions among the platform’s users about whether the social giant would continue to support the program.
Holders of Reddit’s Collectible Avatars non-fungible tokens (NFTs) are concerned about the initiative’s future following news that the project’s leader has departed the social media company.
My role at Reddit has come to a close. While I am disappointed by this shift, I am really pleased with the job I performed while there. Bianca Wyler, the head of Reddit’s Collectible Avatars, posted on LinkedIn on January 6.
Some Reddit users noticed that recent comments from Wyler’s Reddit account were deleted, leading to speculation that her departure might signal the potential discontinuation of the avatars.
Reddit Collectible Avatars (RCA) is a collection of millions of unique NFTs on the Polygon blockchain, mainly featuring Reddit’s iconic alien mascot. Users can showcase these avatars on their profiles, gaining perks such as “special comment treatment.”
RCA was released in July 2022 as a limited-edition artwork made in partnership with independent artists. According to Dune Analytics, more than 33.5 million NFTs have been minted.
However, sales of these NFTs have slowed since reaching a peak in late 2022, with secondary sales volumes for the last three months of 2024 consistently around $100,000, indicating a decline in trading activity since 2022.
