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Reddit has recently launched its fourth-generation Non-Fungible Token (NFT) collection called "Retro Reimagined" on the Polygon blockchain. This collection includes designs from 100 creators, such as Cool Cats NFT and Micah Johnson's Aku characters, and is considered the largest addition to Reddit's limited-edition NFT collection. These NFTs are available for purchase on the Polygon network with prices varying from $2.49 to $199.99 each. The collection also includes avatars in the Cool Cats style, and unfortunately, one of the avatars, the C4T Monitor, has already sold out.
Several artists who participated in Reddit's Gen 3 Collectible Avatars series and were also part of the latest project, including Ali Sabet, rojom, gasolyn, StutterVoid, Conall-in-Space, kristyglas, and dashikka, were part of this collection. Reddit has imposed a daily purchase cap of $3,000 and set a limit of $1,000 on the one-purchase per collectible avatar. Additionally, anti-bot safeguards like CAPTCHA and limits based on account age have been implemented to prevent abuse.
After the successful launch, there has been mainly positive feedback from NFT collectors, although there have been some complaints about glitches and price confusion.
Reddit initially launched Collectible Avatars last year via Polygon, an Ethereum scaling network designed for faster and cheaper transactions for large-scale mints and projects. NFTs gained significant traction in 2021 but interest in the industry has decreased due to regulatory uncertainties and market fluctuations. Despite this, there is still interest and potential in the NFT industry as it continues to evolve.