EddieJayonCrypto
18 Jul 24
Reddit is discontinuing its Collectible Expressions feature, which allowed users to create animations based on their Collectible Avatars NFTs. The decision was announced on a Reddit help page with a message stating that as of August 5, 2024, Collectible Expressions will no longer be supported. The C...
Reddit has announced the discontinuation of its Collectible Expressions feature tied to Collectible Avatars NFTs. The support will cease on August 5, 2024. The Collectible Avatars NFTs are on the Polygon blockchain, with over 33 million minted so far and a market cap of $43 million. The Collectible Avatars Lead hinted at new updates and plans following this decision.
Reddit's move to end the Collectible Expressions feature follows the previous phase-out of its "Community Points" reward tokens due to regulatory concerns and resourcing. The Collectible Avatars community will be restricted, with plans for new partnerships and activities. The team emphasized the continuing strength of the collectible ecosystem despite these changes.
The Collectible Avatars introduced animated expressions for user avatars, available in select subreddits. The free variety of Collectible Avatars accounts for the majority of the 33 million minted. The r/CollectibleAvatars community is transitioning into an official announcement channel with promises of exciting updates, new partnerships, and increased events and activities.
Prior to this, Reddit phased out its "Community Points" reward tokens on the Arbitrum Nova network in 2023, citing regulatory and resourcing concerns. The project was subsequently taken over by decentralized Reddit users.