Reddit Collectible Avatars lead exits role, sparking concerns over the project's future

Bianca Wyler has left her position as Head of Reddit Collectible Avatars, according to a LinkedIn post on Monday, sparking concerns over the NFT project’s future.

Wyler joined Reddit in June 2024, having previously held community manager positions at Mesh and Nifty’s. However, just eight months into the role, her time with the platform has come to an end in what she described as an incredible chapter of her career.

“Today marks the end of an incredible chapter in my career as my role at Reddit has come to a close,” Wyler wrote on LinkedIn. “While I am saddened by this transition, I am incredibly proud of the work I accomplished during my time there. I had the privilege of helping shape Reddit’s digital collectible initiatives, building programs that empowered creators and engaged users in new and exciting ways.”

Reddit released a collection of Collectible Avatars with various depictions of its alien mascot Snoo on the Polygon blockchain in 2022 that users could either claim or purchase via its NFT marketplace in fiat. The social media platform appeared to purposely avoid using blockchain terms like “crypto” and “NFTs” in a jargon-free approach amid the deepening bear market at the time. The collection led to the creation of millions of new blockchain wallet addresses as Reddit attempted to take NFTs mainstream, though sales volumes have fallen dramatically since peaking in October 2022.

“When I joined Reddit, it was no surprise to the web3 and digital collectibles community that the RCA program had come down from a massive bull run,” Wyler told The Block. “The program, along with its vibrant community, needed some dedicated care and thoughtful strategy. I took a significant step down from my previous title and pay to join the team because I believed in the impact I could make. Within just three months, I was able to help optimize the program, significantly improve community sentiment, and see a meaningful increase in sales and creations.”

‘Sudden shift cannot be good’

However, the move appeared to come somewhat abruptly, just two hours after Wyler’s latest posts engaging with the community and encouraging them to reach out. According to a community member known as "PopLegion," her comment history for the past two months was then wiped.

“This development is extremely concerning, especially when compounded with the reports artists have made with regards to receiving extremely late payouts as of late,” PopLegion said. “I believe I can speak for almost everyone to say we are extremely sad to see such an amazing community lead stepping away or being let go from this program. [Wyler] was the most active person we have ever had from Reddit's side in this program, and facilitated lots of great discussion.”

“I don’t know what this means for us but this sudden shift cannot be good,” one member posted in a Discord discussion. “Please don’t take my beloved RCA’s away,” another said .

Wyler’s LinkedIn profile picture now shows “open for work,” indicating the exit may not have been planned. “If you know of any opportunities or projects where my skills and experience could make an impact, please don’t hesitate to reach out,” she wrote on the professional networking platform.

“I love Reddit, its community, and the incredible opportunity I had while working there,” Wyler told The Block. “I wouldn’t trade that experience for anything in the world. I think my departure is simply a reflection of the natural shifts that happen in major companies like X and Meta as they navigate emerging technologies and evolving priorities. While I’m unsure of the current direction for the RCA program, I’m confident that Reddit will continue to do good by its community — the true driving force behind everything the company builds.”

Reddit’s discontinuation of its Community Points program

Reddit Collectible Avatars holders will be mindful of the platform’s history with crypto-related projects following Wyler’s departure. In December 2023, Reddit admins relinquished control over the smart contract, located on the Arbitrum Nova network, for the r/cryptocurrency subreddit's Moons token.

Moons tokens were part of Reddit’s community points program for the subreddit introduced in 2020, designed to incentivize user engagement. The program’s discontinuation, announced by Reddit in October 2023, saw the token drop over 80% within hours but ensured its ongoing existence, independent of Reddit’s community points program and any centralized governance, subsequently recovering its pre-announcement value.

Ahead of Reddit’s official statement, onchain data suggested that many moderators associated with the subreddit liquidated large quantities of Moons. Following these transactions, these moderators were removed from their positions.

The Block reached out to Reddit for comment.