Reddit Releases Thousands of NFTs on Polygon in Its Latest Collection of 100+ Artists ⋆ ZyCrypto
- Social platform Reddit has launched another huge NFT collection on Polygon in collaboration with over 100 artists.
- Reddit’s NFTs have continued to increase since its launch last year, attracting over 7.3 million wallets with over 10 million minted NFTs.
- The community continues to praise the platform for giving creators a platform to project their art and stories to a whole new audience.
The non-fungible token (NFT) space has seen new entrants from traditional social media players in recent years, but Reddit has taken the market by storm with its two previous releases.
Reddit has rolled out its third generation (Gen 3) NFT collection, expanding the number of artists and content in the program. The new release was centered on futuristic themes, with the platform encouraging artists to express their views through art.
First launched in June 2022 on the Ethereum layer 2 network Polygon, its first theme depicted the platform’s mascot Snoo in various styles. The following months saw the release of Halloween-themed avatars alongside Super Bowl designs, drawing 7.3 million new wallets to the platform.
To reach a wider audience, the Gen 3 collection seeks to expand its artistic base from 32 creators in the two previous releases to 100 in the latest edition. Currently, over 10.6 million Reddit avatars have been minted with a total value of $74.5 million, according to data from Dune.
Artists participating in the Gen 3 release were asked to sign a non-disclosure agreement to prevent them from giving details about the avatars before the launch, but leaked images of the avatars have been circulating online weeks before the launch.
The new project used a tiered system that prioritized popular artists. Chris Taylor, the creator of the popular Nyan Cat meme, gave a supply of 1000 NFTs, while some less popular creators gave a supply level of 75-100 NFTs.
The Reddit NFT project has always maintained its community-centric approach in its two previous releases and took it a step further in Gen 3. Several artists who commented on the project stated that the platform encouraged them to express themselves around the topic, and gave them the support they wanted.
Alicia Freeman, a visual artist and author, stated that she was given full creative license to create while expressing her delight that she would be rewarded.
“I decided to create avatars that reflected the rising sea levels, struggling bee populations, and the inevitable future of us all returning to our original stardust form. I didn’t even realize I’d be getting paid for my work. I was obviously pleasantly surprised at how big the project turned out to be,” she added.
Laura Dumitriu, a Romanian digital illustrator, said she took advantage of the opportunity to create “a new world with colorful and cute characters” centered on the theme.
