Reddit has launched its third-generation NFT collection on Polygon, this time featuring over 100 artists and using the theme of future realities. Artists were given freedom to create avatars within the Snoo template frame.

The previous two collections generated considerable interest and attracted over 7.3 million users. Since breaking into the NFT space, Reddit has avoided the term “NFT” and instead created a simplified user experience to attract users who may be unfamiliar with blockchain technology. There is concern in some quarters that the increasing number of artists involved may result in an oversaturation of quantity, potentially diluting the commercial value of the collection.

However, artists involved have praised the greater accessibility and distribution for the art. Chris Torres, creator of the Nyan Cat meme, describes the collaboration as “really cool seeing them create a whole new audience for NFTs and crypto.” The total market cap value of Reddit NFTs is $74.5m.

(By Tom Farren)