The head of Reddit's NFT product collection avatar resigns, causing user concerns about the product's future

According to Cointelegraph, holders of Reddit Collectible Avatars (RCA) NFTs expressed concern about the future prospects of the product after learning that the project leader had confirmed her departure from the social media company. Bianca Wyler, head of the Reddit Collectible Avatar project, stated on LinkedIn: "My journey at Reddit has come to an end. Although I am saddened by this transition, I am incredibly proud of what I have achieved during my time there."

Some Reddit users noticed that Wyler's recent comments on her Reddit account had been deleted, which further raised their concerns and led them to believe that her seemingly sudden resignation might be a sign that the social platform will make adjustments to the avatar project in future. In an interview, Wyler revealed that her departure reflects a natural shift within social media companies as they explore new technologies and adjust priorities. Despite uncertainty about RCA's direction, she believes Reddit will continue to work for community benefits.

Launched in July 2022, RCA was promoted as limited edition artwork created in collaboration with independent creators. Data from Dune Analytics shows that these NFTs currently have over 33.5 million total holders. Since reaching its peak at the end of 2022, sales volume for these NFTs has not kept up; monthly secondary market trading volumes hovered around $100k USD for each month in Q4 2024 while overall trading volume has declined since peaking in 2022.