Collectible Avatars are back on Reddit. These avatars are not NFTs. The Super Bowl LVII x Reddit Collectible Avatar collection was released yesterday by the social media site in partnership with the NFL. Last week, the site gave hints that the collection would be coming out.
The NFTs are free, and like Reddit’s other drops, they give their owners special benefits on the platform. Users who want to mint NFTs can choose between an Eagles, Chiefs, The Champs, or LVII Super Fans collectible.
Redditors can only mint one thing per account. Over 651 800 of the avatars have been made so far. At the moment, the collection has a floor price on OpenSea of 0.0002 ETH, and it has made 3 ETH in trades.
More details about Reddit
In 2022, when Reddit’s first NFT collections came out, they were all over the news. The CryptoSnoos NFTs were called “Collectible Avatars” and were based on the mascot of the social media platform, Snoo. They were made by both independent artists and Reddit creators. The avatars gave users access to certain platform features, like unique profile animations, and gave their owners a kind of of CC0 license to use the avatars in any way they wanted.
The NFTs seemed to come out of nowhere and quickly blew up the NFT space, making over $12.5 million in sales and being one of the biggest Web3 onboarding events in the blockchain’s history. Reddit was able to do this because they never used the term NFT in any of the press they put out. Instead, they called the tokens “digital collectibles.” This playbook was not only a big success, but it also led to some of the funniest comedy on the Web3.
What comes next?
The NFT and crypto space is in a dangerous place right now, so this new collection comes at a bad time. Reddit’s rise happened before Sam Bankman Fried’s FTX crashed, an event that made people in the mainstream even less interested in crypto than they were before. Even so, it’s not a big surprise that Reddit is continuing to test NFTs, given how well they worked in the fall of 2022.
Reddit might be taking a small page from Candy Digital’s playbook by partnering with the NFL to try to get more NFL fans to buy their collectibles. Candy Digital is another platform that has had a lot of success working with Major League Baseball and MLB Players Inc. to help them roll out their Web3 projects. This may be in part because they have also avoided calling NFTs by their technical name.
Content Source: nftnow.com
