Reddit Avatar NFT ‘Emojis’ to be Removed

As of August 5, 2024, Collectible Expressions will no longer be supported on Reddit.

> In some instances, you might be able to view them on past comments, but they can’t be used on comments moving forward.

In related news, Reddit Collectible Avatar (RCA) NFTs have a new community manager but also made r/CollectibleAvatars restricted. The new CM does stay Reddit is seeking new ways you can grow Reddit NFTs with partners, however.

It’s worth noting, previous Reddit 10-Q does disclose Reddit is indeed continuing Reddit NFT development and seeking further opportunities, which obviously would violate SEC Rule 10b-5 if untrue. However, the largest portion of language related to RCA NFTs is about the regulatory risk and uncertainty that NFTs have. Moreover, both revenue and expenses from RCA NFTs was specified to be immaterial.

So while technically speaking it appears Reddit NFT avatars are still being supported and opportunities officially explored, it appears to be at the bare minimum.

And similar to sub-reddit cryptocurrencies, it appears yet another blockchain related ecosystem feature is being sunset.

This may or may not be pessimistic, however, as on one hand another ecosystem feature being removed seems negative, but on the other hand, they genuinely do not seem popular and many people seem to think they’re annoying.