PANews reported on January 7 that according to Cointelegraph, Reddit Collectible Avatars (RCA) NFT holders expressed concerns about the future prospects of the product after learning that the project leader had confirmed his departure from the social media company. Bianca Wyler, the project leader of Reddit Collectible Avatars, said on LinkedIn: "My journey at Reddit has come to an end. Although I am sad about this transition, I am still very proud of what I have achieved during that time."
Some Reddit users noticed that recent comments on Wyler's Reddit account had been deleted, which raised further concerns that her seemingly sudden departure could be a harbinger of the social platform's next adjustment to the avatar project. In an interview, Wyler revealed that her departure reflects the natural shift of social media companies in exploring new technologies and adjusting priorities. Although she is uncertain about the direction of the RCA project, she believes that Reddit will continue to work for the benefit of the community.
Launched in July 2022, RCA is billed as a limited-edition art piece created in collaboration with independent creators. Data from Dune Analytics shows that the total number of holders of these NFTs now exceeds 33.5 million. Since reaching a peak at the end of 2022, sales of these NFTs have failed to keep up, with monthly secondary market trading volumes hovering around $100,000 in the last three months of 2024, and trading volumes have also declined since their peak in 2022.
