Reddit's Gen 4 collectible avatars are set to see daylight on July 26th, 3:00 PM Eastern Time.
Despite the current downward trend in the non-fungible token (NFT) sector, social networking giant Reddit continues to chart its course through the realm of digital collectibles.
In a recent revelation on r/CollectibleAvatars, Reddit confirmed plans for the latest edition of its collectible avatars. The new digital collectibles are set to be released on July 26th. The event is reportedly timed for 3:00 PM Eastern Time, sparking anticipation amongst fans and collectors.
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The new digital collectibles, "Retro Reimagined," will mark the fourth generation of Reddit's collectible avatars since the project's inception a year ago.
Similar to previous editions, the latest collection will be issued via the Polygon blockchain and will be available on decentralized exchanges.
With the new launch, Reddit also aims to revamp its in-app collectible marketplace, conveniently housed within the avatar editing division of the platform. Presently, the shop showcases an assortment of Gen 3 avatars, many with a retail price of $4.99.
The upcoming avatar series is a creative collaboration involving new and returning designers, boasting new designs from Cool_Cats_NFT and Micah Johnson, among others.
However, Reddit maintains a distinct position on its Polygon-based avatar collections, choosing not to label them as authentic NFTs due to the lack of cryptocurrencies in their purchase or sale process.
Notwithstanding, owners of these collectibles can move their avatars to different Reddit accounts using the blockchain-embedded Vault wallet or another third-party cryptocurrency wallet.
This steadfast drive towards digital collectibles from Reddit comes despite a noticeable shrinkage in the NFT market. As of May 2023, top-tier NFT initiatives such as Invisible Friends, Doodles, Goblintown, and Moonbirds witnessed a dramatic 95% decline in their Ether (ETH) value, even with an upswing in the crypto markets.
Despite turbulence in the NFT market, Reddit continues its journey into the world of blockchain-based collectibles. With its latest "Retro Reimagined" avatar series and new designs from prominent artists, Reddit is demonstrating its commitment to digital innovation.
