‘Reddit Recap’ turns users into trading cards; NFT rumors are swirling
Reddit Recap turned users’ profiles into trading cards with all the telltale signs of an NFT. The cards have ratings, properties and abilities, leading to speculation in the crypto community.
The crypto community is full of speculation that Reddit may release more NFTs. The theory comes from the recent Reddit Recap release, which showcases trading cards for user profiles.
Reddit’s year-to-date summary shows users their use of the platform over the course of the year and includes personalized comments as their most upvoted comments. However, there is also a section where users see a trading card format on the profile and a rating based on the karma they have earned.
This trading card profile looks very much like an NFT, which is why crypto community members have been abuzz with discussions. The trading card also gives them a superpower, such as giving them a stat boost after certain actions.
The fact that there are traits, superpowers, ranks, and unique flashy designs is a pretty strong sign that more NFTs may be on the way. The map can also be shared on and by Reddit.
Of course, the crypto community has been digging into the whole thing with great enthusiasm, trying to find details about a potential NFT launch. A user discovered a contract that was created for the summary, so it seems likely.
There isn’t much more information in the way of an NFT release, but all signs point to it. It’s possible that Reddit will announce another initiative before the year ends, given the heavy speculation.
Reddit has shown enthusiasm for NFTs in the past, as well as cryptocurrencies. There has been a lot of growth in the avatar NFTs, which is another positive sign.
Reddit’s NFT avatars show great growth
Reddit’s NFTs have picked up speed considerably in terms of adoption in 2022. Avatar imprinting reached an all-time high on December 3, according to Dune. Over 255,000 of these were minted, and there are over 4 million avatar holders.
While avatars grew at a rapid pace from September, they have experienced a particularly sharp increase in recent months. These avatars’ total cumulative sales volume exceeds $11.7 million across 95,000 sales. The top selling avatar sold for 30 ETH, worth around $40,000 at press time.
Pali Bhatt, Reddit’s first Chief Product Officer, is a big reason behind the success of Reddit’s NFTs. He has hailed the success of Reddit NFT avatars, which have stood out in a tough year for the niche.
Disclaimer
The information provided in independent research represents the views of the author and does not constitute investment, trading or financial advice. BeinCrypto does not recommend buying, selling, trading, holding or investing in any cryptocurrencies
