Reddit's head of collectible avatar NFT product resigns, sparking concerns among users of the platform

PANews reported on January 7 that according to Cointelegraph, holders of Reddit Collectible Avatars (RCA) NFT expressed their views on the future prospects of the product after learning that the project leader had confirmed to leave the social media company. Worried. "My journey at Reddit has come to an end," Bianca Wyler, director of Reddit's collectible avatar project, said on LinkedIn. "While I'm sad about this transition, I feel incredibly proud of what I've accomplished during that time. pride."

Some Reddit users noticed that Wyler's recent comments on her Reddit account had been deleted, raising further concerns that her seemingly sudden departure could be a harbinger of upcoming changes to the social platform's avatar program. Wyler said in an interview that her departure reflects a natural shift in social media companies exploring new technologies and adjusting priorities. Although unsure about the direction of the RCA project, she believes Reddit will continue to benefit the community.

Launched in July 2022, RCA is billed as a limited-edition artwork created in collaboration with independent creators. Data from Dune Analytics shows that the total number of holders of these NFTs currently exceeds 33.5 million. Sales of these NFTs have failed to keep up since peaking in late 2022, with monthly secondary market trading volumes hovering around $100,000 in the last three months of 2024, while trading volumes have also declined since peaking in late 2022. dropped.