- Reddit avatar NFT holders are unhappy with the project lead’s departure
- They said that her departure compromises the project’s future
- The project’s lead, Bianca Wyler, has been on the project for roughly eight months
The head of Reddit avatar NFTs, Bianca Wyler, has left the social media platform and the NFTs’ holders have expressed concerns over the project’s future. Wyler disclosed her departure in a LinkedIn post saying she’s proud of her work since joining the project in June 2024. The NFTs’ holders weren’t happy with her departure with some saying that her departure was part of Reddit’s move to sunset the project while others pleaded with the social media platform not to “take the utility away,” something that comes slightly over a year after Reddit announced plans to shut down blockchain-based community points.
Her Departure “Foreshadowing Something Else?”
In her LinkedIn post, Wyler didn’t disclose the reason behind her departure only saying that she’s “saddened by the transition [but] excited to explore new opportunities.” Holders of the Reddit Collectible Avatars (RCAs) pleaded with the social media platform not to take away their “beloved RCAs’.”
The collectors wrote that the project has suffered “a big loss,” adding that Wyler “put care into her role and listened to everyone in the community.” Some feared that her departure may be a “foreshadowing [of] something else,” probably something unpleasant.
Skeptical RCA holders argued that the social media platform may discard the project because it doesn’t “hold much value.” They added that Reddit has been reducing its association with the NFTs to the point where it “was barely a footnote in their IPO.”
Over 33 Million Collectors Hold Reddit NFTs
According to Dune Analytics, there are over 33 million Reddit avatar NFT holders. The NFTs’ trading volume has drastically reduced from its 2022 peak. Reddit has in the past explored the web3 space in partnership with Ubisoft.
With Wyler’s departure, it’s to be seen whether Reddit will release a statement outlining the project’s future.
