ChainCatcher news, according to Cointelegraph, holders of Reddit Collectible Avatars (RCA) NFTs expressed concerns about the future of the product after learning that the project leader had confirmed leaving the social media company. Bianca Wyler, the project leader of Reddit Collectible Avatars, stated on LinkedIn, 'My journey at Reddit has come to an end. While I am saddened by this transition, I am incredibly proud of the achievements I made during that time.'
Some Reddit users noticed that Wyler's recent comments on her Reddit account had been deleted, raising further concerns that her seemingly sudden departure might signal upcoming adjustments to the avatar project by the social platform. In an interview, Wyler revealed that her departure reflects the natural transition as the social media company explores new technologies and adjusts priorities. While uncertain about the direction of the RCA project, she believes Reddit will continue to benefit the community.
RCA was launched in July 2022 and was promoted as limited edition artwork created in collaboration with independent creators. Data from Dune Analytics shows that the total number of holders of these NFTs has exceeded 33.5 million. Since peaking at the end of 2022, the sales volume of these NFTs has not kept up, with monthly secondary market trading volumes hovering around $100,000 in the last three months of 2024, and trading volume has also declined since its peak in 2022.