CoinVoice has learned that, according to Cointelegraph, Bianca Wyler, the head of the Reddit Collectible Avatars project, stated on LinkedIn: 'My journey at Reddit has come to an end. Although I feel sad about this transition, I am incredibly proud of the achievements I made during that time.' After learning this, holders of the Reddit Collectible Avatars (RCA) NFTs expressed concerns about the future prospects of the product.
Some Reddit users noticed that Wyler's recent comments on her Reddit account had been deleted, raising further concerns that her seemingly abrupt departure might be a sign of upcoming adjustments to the avatar project by the social platform. In an interview, Wyler revealed that her departure reflects the natural shifts within the social media company as it explores new technologies and adjusts priorities. While uncertain about the direction of the RCA project, she believes Reddit will continue to work for the benefit of the community.
RCA was launched in July 2022, marketed as limited edition artworks created in collaboration with independent creators. Dune Analytics data shows that the total number of holders for these NFTs has now surpassed 33.5 million. Since peaking at the end of 2022, sales of these NFTs have consistently failed to keep pace, with monthly secondary market trading volume hovering around $100,000 in the last three months of 2024, and trading volume has also declined since reaching its peak in 2022. [Original link]