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Concerns Arise Over Reddit Avatar NFTs

Tuesday. January 7 at 7:00 PM

1 min. read

Holders of Reddit's Collectible Avatars NFTs are expressing worries about the future of the project following the departure of its head from the social media platform. Bianca Wyler, the former head of Reddit's Collectible Avatars, announced her exit on LinkedIn, leading to speculation among Redditors about the fate of the avatars. The NFTs, which feature Reddit's iconic alien mascot, were launched in July 2022 and have garnered over 33.5 million holders. Despite initial success, sales have declined in recent months. Wyler, who joined Reddit in June 2024, mentioned the need for strategic improvements to the program during her tenure. While uncertain about the program's future, she expressed confidence in Reddit's commitment to its community. The social media company has not provided any official statement regarding the situation.

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Mad Lads Solana NFTs Surge After Backpack Acquires FTX Europe

Wednesday. January 8 at 2:00 PM

The price of NFTs in the popular Solana collection Mad Lads rose by 19% following the acquisition of FTX Europe by parent company Backpack. Initially priced at nearly $18,300 worth of SOL, the floor price has since dropped to $16,240 due to a market correction. Speculators are optimistic about Backpack's acquisition, which will enable the exchange to offer perpetuals trading to European users. While no direct benefits for Mad Lads holders have been confirmed, CEO Armani Ferrante hinted at potential perks for VIP 1 status on Backpack Exchange. The collection has seen over $1.8 million in secondary trading in the last 24 hours, positioning it as the second most traded NFT collection after Ethereum's Pudgy Penguins. Launched in April 2023, Mad Lads gained recognition for thwarting bots and has become a top Solana NFT collection.

NFT

Revolutionizing DeFi with R0AR NFTs

Wednesday. January 8 at 7:00 AM

Georgetown, Saint Vincent & The Grenadines, January 7th, 2025, Chainwire - The Executive R0AR Society (ERS) NFT public sale commenced with the sale of over 2,700 tokens. The Ethereum-based tokens offer utility features that have garnered significant interest. The team envisions these NFTs as integral to the evolving R0AR DeFi ecosystem, emphasizing community involvement. The NFTs boast six undisclosed features to be revealed after minting completion or within 90 days. This delayed reveal ensures a fair minting process, preventing early advantages. Notably, the mint is designed to prevent insider sniping, ensuring random distribution of the rarest NFTs. Over 27% of R0AR NFTs were minted on the first day, with each token priced at 0.014 ETH and a limit of 25 tokens per wallet. The R0AR token presale raised $4 million, rewarding early participants with whitelist access. The surge in minting activity is driven by short-term gains and long-term investment strategies. The R0AR team plans to offer future crypto rewards, including airdrops and NFT staking opportunities, aligning with their vision for a comprehensive DeFi ecosystem.

NFT

Concerns Arise Over Reddit Avatar NFTs

Tuesday. January 7 at 7:00 PM

NFT

Trader Makes $3.2M Profit Amid Crypto Market Slump

Tuesday. January 7 at 1:00 PM

Despite a downturn in the crypto market, a trader managed to earn over $3.2 million in profit. The individual, whose identity remains unknown, transformed a $2,137 investment into $3.2 million by trading the newly introduced Hyperfy (HYPER) token. This impressive return represents a 1,500-fold increase in just 10 hours, as reported by blockchain analytics platform Lookonchain. Hyper was launched on Raydium as the utility token for the Hyperfy metaverse and gaming platform. The token reached an all-time high of $0.26 before dropping to $0.19. Despite the market cap exceeding $198 million, the broader crypto market has been struggling. Some traders, however, have been able to capitalize on the volatility, with one individual turning $27 into $52 million by investing in the Pepe memecoin rally. This showcases the potential for significant gains even in challenging market conditions.

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