Reddit Collectible Avatars Gen 4 launches at some point today. As was the case with Gen 3, Redditors have responded to the launch with some criticism.
Amidst the flak it has received from users over its recent actions, Reddit is launching a new set of NFT avatars. The Reddit Collectible Avatars Gen 4 is being released on July 26, with the crypto community largely criticizing the launch.
Reddit Collectible Avatars Gen 4 Gets Mixed Response
The prices of these NFTs usually vary from $4.99 to $199.99. The most expensive NFTs are limited to 75–125 in number. The $4.99 set has a size of 2,500–10,000.
Reddit Collectible Avatar Generations So Far. Source: Reddit
Reddit’s avatars have been popular in the past, but in more recent times, the response has been more critical. Still, the avatar collection involves several artists, as seen in a compilation made by some users. NFT collection Cool Cats also revealed that it was participating in this latest collection.
The response from the crypto community has not been very pleasant. Some users have asked if there would be bot protection now, referring to bot purchases made in the previous generation of collectible avatars.
Others point to whether the freezing of the interface when making a purchase has been fixed, as this often results in the NFT being sold out before it can be completed. The other major criticism is the release of another generation of avatars, which they called a cash grab.
It’s not all negative, however. Some users have celebrated the new collection and said that some of the art is “worth dying for.” It is noticeable that the novelty of these avatars has worn off on the crypto community, which lacks the enthusiasm it had for the early generations.
Gen 3 Drop Plagued by Bot Activity
The latest response is not all that surprising, given that Generation 3 saw bots purchase some of the rarer NFTs. Users took to social media platforms to lambast the launch, calling it unprofessional and anti-community. They noted that there were no bot prevention measures in place.
That feeling doesn’t seem to have changed much for this latest drop, and it remains unclear whether Reddit will make any changes. Still, the number of holders has been increasing over time, with the vast majority holding only one 1 Reddit avatar.
Despite the heavy criticism that the Reddit Collectible Avatars Gen 4 is facing, as well as the previous generations, the collection has hit some notable milestones. The platform has topped 13 million unique holders, with a market cap of $45 million.
Collectible Avatars Cumulative Sales Volume. Source: Dune
Cumulative sales volumes of the collection have also exceeded $32 million, with over 306,000 sales made. Gen 3 was responsible for $3.3 million of the cumulative sales figure.