Ethereum

Reddit

Blur

April

Quick take: 
<ul> 
 <li>Reddit is launching its fourth generation of collectible avatars.</li> 
 <li>The drop will feature a collaboration with the NFT project Cool Cats.</li> 
 <li>The drop is expected on July 26, 2023, according to a post by r/CollectibleAvatars.</li> 
</ul> 
Reddit is dropping its fourth generation of collectible avatars on July 26. A social media post by r/ColectobleAvatars <a href="https://www.reddit.com/r/CollectibleAvatars/comments/158lz9l/wait_four_it/" target="_blank" rel="noopener noreferrer nofollow">revealed</a> on Monday stating that the drop will occur at 3:00 PM Eastern time. 
This drop has been titled “Retro reimagined” and will feature works from some of the leading creators in the NFT space, including Micah Johnson and the Animoca Brands-backed Cool Cats NFT. 
Announcing its participation in the latest Reddit collectible avatar drop, Cool Cats tweeted: 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We’re participating in <a href="https://twitter.com/Reddit?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Reddit</a>’s Gen4 Collectible Avatars collection! Our limited-edition series of <a href="https://twitter.com/hashtag/RedditCollectibles?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RedditCollectibles</a> will be available on Reddit tomorrow, July 26. Get ready to rock, Cool Cats. <a href="https://t.co/qMkSY0vpW2" rel="noopener noreferrer nofollow">pic.twitter.com/qMkSY0vpW2</a>— Cool Cats (@coolcats) <a href="https://twitter.com/coolcats/status/1683918416401555456?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
Reddit has already sold more than 18 million collectible avatars, attracting over 14 million holders. The collection is now valued at about $60.88 million in market capitalisation, despite the current bear market. 
Although Reddit NFTs are minted on Polygon, the company has opted to use the word collectibles over non-fungible tokens. In addition, unlike other NFTs where traders buy and sell in crypto, Reddit collectors trade their collectible avatars using the Vault wallet, a digital wallet that allows Redditors to store and manage their blockchain-based assets like the collectible avatars. 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh3.googleusercontent.com/amR02mdsimI0BZXTJRcq6sGij1Zb5tv-_h_rkmCr01Edch9wSey4L_Uz_EHB9LstUuws3Ke9R4_BvNYVyqWg6eX5bjIu31GimyNYuET-P7FC5Glyeax-UYigXtkbWWnshiEi0ouiV8H16i60dqHr2QQ" alt=""> 
 <figcaption class="wp-element-caption">
 Source: Polygon_Analytics/Dune 
 </figcaption> 
</figure> 
Reddit also announced it will be making changes to its digital collectibles shop, offering collectors more tools to customise their avatars.&nbsp; 
The company’s Gen 3 series of <a href="https://www.nftgators.com/what-is-an-nft/" rel="noopener noreferrer nofollow">NFTs</a>, which launched in April this year has been minted 6.58 million times and generated $3.386 million in cumulative sales, according to dashboard publisher Polygon_Analytics on Dune Analytics. 
Overall, Reddit collectible avatars have garnered nearly $33.65 million in total sales since launching in July 2022. The avatars raced to a sales volume of more than $10 million in less than three months, and have since played a major role in driving the number of Polygon-based NFT sales. 
Although the NFT market is yet to reach the heights of last year, there was a significant spike in sales last week with an impressive <a href="https://www.nftgators.com/weekly-nft-activity-sees-ethereum-volume-soar-past-19-6m-from-18-8k-trades/" target="_blank" rel="noopener noreferrer nofollow">$19.6 million</a> worth of Ethereum NFTs sold. OpenSea dominated the number of trades, while Blur led with the sales volume. 
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The post <a rel="noopener noreferrer nofollow" href="https://www.nftgators.com/cool-cats-nft-joins-reddits-gen-4-collectible-avatars-drop/">Cool Cats NFT Joins Reddit’s Gen 4 Collectible Avatars Drop</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://www.nftgators.com">NFTgators </a>.

Cool Cats NFT Joins Reddit’s Gen 4 Collectible Avatars Drop

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