Reddit Still Has Its NFT Avatars
We at Gizmodo were pretty critical of Reddit’s not-NFTs (that were definitely NFTs in all but name) called “Collectible Avatars.” These are non-fungible tokens, but the company didn’t want to use the words blockchain or NFT because it would only help remind people they were working in an overly commoditized, corrupt market.
Reddit launched its Gen 4 for its NFT collectible avatars in July. This time, Reddit set a daily purchase limit of $3,000 for up to three purchases for each avatar. This was to cut down on scalping, but it only helps display just how much money is getting put behind artificially scarce digital images, just to make your avatar look more unique than others.
