Reddit on Wednesday released its Gen 4 Collectible Avatar series, the largest expansion to date of its limited-edition non-fungible token (NFT) collection.
The colorful release, featuring reinterpretations of the platform’s iconic “Snoo” character, is titled “Retro Reimagined” and is meant to inspire “warm, fuzzy feelings of nostalgia.” The collection features designs from 100 independent artists and popular NFT collections like Cool Cats. The Polygon-based NFTs in the collections range in price from $2.49 to $199.99.
The Reddit team learned from its previous drop in April, implementing anti-bot measures such as CAPTCHA to ensure a smoother rollout. In addition, the team is launching “initial access” for the first day of the release, which looks at your account age and “other metrics” and limits the number of collectibles you can purchase in one swoop. Collectors can spend up to $1,000, with a one-purchase per collectible avatar limit during this time. Initial comments in the r/CollectibleAvatars posts post-launch are mostly positive, though there were some complaints about glitches and confusion with prices.
“These purchase constraints are meant to act as an extra layer of protection against bad actors and bad bots,” a Reddit admin wrote.
Once the initial access period ends, these restrictions will be lifted, though a $3,000 daily purchase limit will remain.
Reddit first launched its NFT marketplace on digital wallet Vault in July, successfully welcoming millions into its ecosystem.
At the time of writing, there are over 14.2 million unique holders of Reddit Avatars, according to data from Dune Analytics. The collection has a $57 million market cap and there are over 18 million collectible avatars in circulation.
Edited by Toby Leah Bochan.
