Reddit deploys Gen 3 NFT avatar contracts on Polygon
Online discussion platform Reddit has deployed the third generation of its blockchain-based digital collectibles dubbed Reddit Avatars on the Polygon blockchain.
Community members and collectors expressing their thoughts on the much-anticipated drop.
Reddit's marketing efforts and changing the anti-NFT narrative within the platform.
The nonfungible token(NFT) avatars were first introduced in July 2022 to empower artists to create and sell their artwork. also, users can purchase a collectible which can also be set as an avatar on the Reddit platform.
The avatars were made available in Aug 2022. On April 5 Reddit deployed the contract for the Gen 3 avatars on the Polygon blockchain this resulted in different users predicting that the avatars would sell out in minutes praising Reddit for its marketing and branding prowess.
One collector who participated in collecting the first and second generation of avatars express their excitement saying the new drop has the potential to be sold out within minutes during other users praised Reddit's marketing effort to successfully change the narrative on NFTs converting anti-NFT users to neutral and pro-NFT.
Reddit's NFTs have a surge in trading volume on Oct 24, 2022. the collection reached a new all-time high in trade volume wallet holders closed in on $3 million. at that time the volume reached $1.5 million in just one day. almost one-third of the overall volume of $4.1 million on Oct 26 the collection also made its way to the top 10 collections on OpenSea for the most sales in the week.