like mapping facial features, hair styles, jerseys, and tints into the form of a collectible digital asset are game-changes that reshape social media and how brands like Reddit can nicely slip into full-scale Web3 technology alongside softer adoption tactics and strategies.
On July 26, the social media juggernaut Reddit released its latest series of unique Collectible Avatars imbued with all the cat-centric energy of Web3’s Cool Cats co-founder . Dubbed “Retro Reimagined”, this marks Reddit’s fourth generation of creative collectibles, having first wiggled into the world of Web3 back in July of 2022. The drop includes the creations of fan-favs like Nyan Cat creator , Proof Collective designer Penguit, Reddit Avatar illustrators Jas and Petio, and of course the Web3 brand Cool Cats co-founder. This generation of avatars introduces three goldfish bowl resident in the style of Cool Cats: Blue Cat and Chugs, Shadow Wolf, and C4T Monitor. Following launch, C4T Monitor’s Collectible Avatar sold out fast.
Nevertheless, Cool Cats still rings in roaring success Forbes Mobile previously reporting more than $388 million in amassing NFT sales since its premiere in July of 2021. Central to that success is the eponymous line of 9,999 animated cats, who have grown far more a than a simple PFP (profile photo) inspiring dynamic comics, games, merchandise, and animated content set in its world-building universe Cooltopia, thanks to the backings of Animoca Brands.
Much like its previous collections, Reddit’s new prospectus makes use of the Polygon blockchain, wherein user activity and ownership of these avatars can processed on-chain and lent amenities like internal transfers and funds with nothing more than the Reddit wallet Vault. Breaking this down further, new renovations to the shop were recently unlocked via Reddit’s avatar editing section giving buyers direct access to the collection should they wish to make any modifications. In addition, Crypto wallet support has been added, allowing for members to send their proof-of-ownership to external agents if needed. Of course, this round also does not comport any “sell-back change.” According to current enforcement, users looking to hoard a hefty (neon)-bookie from selling their new avis must pursue such transactions through external NFT marketplaces.
Looking past the financial (though certainly not forgetting it’s conquests here! Gotta validate those numbers) silver lining within this exchange pattern, Reddit stands tall as it is one of only a few Web2 companies attempting to transition to Web3 so intimately, deftly navigating past the obtuseness of technical complexities that keep rapid adoption of this stuff an insurmountable hurdle for many non-native organizations. A fact made even more amazing as the firm explictly remains quite distant from usage of any NFT conversations or marketing rhetoric surrounding its offerings. Apparently, proximity doesn’t anatomize wisdom here, given that collectible avatars across Reddit swelled to more than 14 million given holders, briskly stamping a soild $33 million in sales.
Unveiled in . October of 2022, countless have expressed overwhelming intrigue by that patterns developer and digital collectible antics, culminating the enormous hype unfolding upon Reddit’s earlier release of free collectibles mapping features facial features, hairs styles, tints, jerseys.., even spiriting in interesting shapeshifts should someone specificly agree or aspire to adopt them back then, as often witnessed in platforms pursuit of Web3 technology allied with softer methodologies for embracing these technologies – smartly crafting public interests. Indeed, Reddit’s true adroit at Web2 strategies has directly uncovered great aptitudes & affirmative presentations to Web3 usages we fully intend growing with! Even through the creaks & twinges generating the NFT marketplace’s complacency amid the ever eternal cryptospace!
