Reddit Waves Goodbye to Avatar Animations

Reddit has announced the discontinuation of its Collectible Expressions feature, which enabled animations based on users’ Collectible Avatars NFTs. As stated on a Reddit help page, from August 5, 2024, the feature will no longer be supported, restricting use on future comments though some past animations may remain visible.

Collectible Expressions, an extension of the Collectible Avatars on the Polygon blockchain, allowed users to animate their avatars in comments within a limited number of subreddits. Despite its initial popularity and claims by Polygon co-founder Sandeep Nailwal that Reddit had “cracked the NFT code,” the platform has decided to phase out this functionality.

The Collectible Avatars themselves have seen significant traction with over 33 million minted and a market cap of $43 million, as per data from Dune Analytics. These avatars, available in both free and premium versions, have been a staple in Reddit’s foray into blockchain and NFTs.

In conjunction with the phase-out, the newly appointed Collectible Avatars Lead announced changes to the r/CollectibleAvatars community, which will transition to an official announcement channel. This move hints at upcoming “thrilling new updates and plans,” including new community partnerships and more events and activities, suggesting that while one feature is being retired, Reddit’s overall collectible ecosystem remains robust and evolving.

This decision follows Reddit’s pattern of recalibrating its blockchain-related endeavors. In October 2023, Reddit scaled back its Community Points reward tokens project on the Arbitrum Nova network, handing over the reins to a decentralized group of users, citing resource constraints and regulatory challenges as key factors.

This latest development reflects Reddit’s ongoing navigation through the complex landscape of digital assets, balancing innovation with practical and regulatory considerations.