Crypto Community Update: Reddit Discontinues Collectible Expressions
If you’re a part of the crypto community, you might be interested in the recent news regarding Reddit’s decision to discontinue its Collectible Expressions feature. This feature was known for creating animations based on users’ Collectible Avatars NFTs. Let’s dive into the details:
What Are Collectible Expressions?
- Building on Reddit’s Collectible Avatars, which are non-fungible tokens (NFTs) on the Polygon blockchain
- Introduced a selection of animated expressions to bring avatars to life in comments
- Available in limited subreddits chosen by community moderators
Recent Developments in the Crypto Community
- Over 33 million Collectible Avatars minted with a market cap of $43 million
- Two varieties of Collectible Avatars: free and premium, with the majority being free
- Newly appointed Collectible Avatars Lead announced restrictions and plans for the r/CollectibleAvatars community
Future Plans for Collectible Avatars
- Teasing “thrilling new updates and plans to share” in the community
- Announcement of new community partnerships and additional events and activities
- Emphasis on the continued strength of the collectible ecosystem
Reddit’s Stance on Crypto-related Projects
- Previous decision to phase out “Community Points” reward tokens on Arbitrum Nova in October 2023
- Cited concerns about resources and the regulatory environment for discontinuing the project
- Handed over the project to a decentralized group of Reddit users
Hot Take: Stay Tuned for More Crypto Community Updates!
As a member of the crypto community, it’s essential to stay informed about recent developments and changes within the space. Keep an eye out for more updates and announcements to ensure you’re up to date with the latest news in the world of cryptocurrency.
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