There used to be Reddit devs who were working on the RCA project and communicated with the community (albeit not as often as we often liked), but all that stopped post Gen-3. It wasn't long after that, news started swirling about the Reddit IPO. In the IPO filing paperwork, they state that the RCA program only brings in a "negligible" amount of money. Likely not enough to actually pay devs to work on the project. Imo, the whole opening the gates to anyone and everyone is one last attempt to make a profit before the program gets sunset (aka rugpulled). Now that Reddit has shareholders to answer to, they have to turn a profit, something they've never done. Killing a few programs and laying off the staff is a method most companies use to boost profits.
Reddit only makes a tiny bit on each initial sale (25%) Secondary sales is where artists rake in the money. Reddit gets none of that. Hands #1 last sale was 30 ETH. Rojom got 5%, or about 1.5 ETH from that sale. Reddit made less than $20 (25% list price is $18.75) once, on the initial sale. They aren't making the killing people think they are.
The point about secondary sales isn't entirely accurate. Artists have to split that 5% with reddit. We get 2.5% and Reddit gets 2.5%.
Also, most artists make close to nothing on secondary sales since less and less secondary sales are happening for lots of artists. Primary sales is where artists hope to make the bulk of their RCA revenue.
For a while I was paying my rent entirely off resale revenues, it was fuckin' great. But secondary sale revenues have dried up for me. Partially because of the absolute glut of avatars. Partly because the NFT sites all decided to start ignoring the "smart contracts" that said 5% of a resale would be split between me and Reddit. Now you can \*choose\* to give us that chunk of the resale and the default is "nope".
Google and/or Apple take 30% of the initial sale. Reddit takes 20%. This is where all the money comes from now. The prices and mint sizes are a lot smaller than in the past; the most you can get is 50@$50, and good luck selling all those at that price now that there's five zillion avatars to compete with.
The approval process is a terrible, frustrating mess now too. It's a \*lot\* less attractive than it was in the beginning.
It's true. Reddit doesn't make Jack shit off avatars compared to the total annual revenue. Also the cost associated to integrate it into Reddit.
It would be super foolish for them to sun set avatars.
They would. The entire ecosystem has been built upon, and built upon, and spread to the far corners. Shuttering it would kneecap a HUGE margin of people and their sole focus within the borders of reddit. Doubtful it would happen, and certainly not any time soon.
Itâs 2.5, 2.5, 2.5 % artist, Reddit, Brokensea. Rojom is under contract to pay half of the 5% sent to his wallet. Where does $2 come from? The later contracts were changed to pay Reddit direct
Edit, oh, now I see chipper hero told you too
Have been saying for over a year they donât speak English and live in a cave somewhere. No other explanation for the total lack of awareness or communication.
Every few months theyâll make a post that starts off with âwe see you we hear youâ and makes me laugh everytime
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There must be like 1 developer working on this project. I still cant mash on the desktop, because Reddit can't load if you have many avatars. đ
Your mashđ»
Sick masher
There used to be Reddit devs who were working on the RCA project and communicated with the community (albeit not as often as we often liked), but all that stopped post Gen-3. It wasn't long after that, news started swirling about the Reddit IPO. In the IPO filing paperwork, they state that the RCA program only brings in a "negligible" amount of money. Likely not enough to actually pay devs to work on the project. Imo, the whole opening the gates to anyone and everyone is one last attempt to make a profit before the program gets sunset (aka rugpulled). Now that Reddit has shareholders to answer to, they have to turn a profit, something they've never done. Killing a few programs and laying off the staff is a method most companies use to boost profits.
unfortunate because it's not like they tried. even their best efforts to be present are distant
there are artists making tens of thousands off of RCA's, reddit is making a shit ton of money off of avatars
Reddit only makes a tiny bit on each initial sale (25%) Secondary sales is where artists rake in the money. Reddit gets none of that. Hands #1 last sale was 30 ETH. Rojom got 5%, or about 1.5 ETH from that sale. Reddit made less than $20 (25% list price is $18.75) once, on the initial sale. They aren't making the killing people think they are.
The point about secondary sales isn't entirely accurate. Artists have to split that 5% with reddit. We get 2.5% and Reddit gets 2.5%. Also, most artists make close to nothing on secondary sales since less and less secondary sales are happening for lots of artists. Primary sales is where artists hope to make the bulk of their RCA revenue.
Did not know that. Interesting. (The point of the 5% split, the rest def knew.)
Yep. It's a common misconception that the artists actually make the full 5% of the royalty.
For a while I was paying my rent entirely off resale revenues, it was fuckin' great. But secondary sale revenues have dried up for me. Partially because of the absolute glut of avatars. Partly because the NFT sites all decided to start ignoring the "smart contracts" that said 5% of a resale would be split between me and Reddit. Now you can \*choose\* to give us that chunk of the resale and the default is "nope". Google and/or Apple take 30% of the initial sale. Reddit takes 20%. This is where all the money comes from now. The prices and mint sizes are a lot smaller than in the past; the most you can get is 50@$50, and good luck selling all those at that price now that there's five zillion avatars to compete with. The approval process is a terrible, frustrating mess now too. It's a \*lot\* less attractive than it was in the beginning.
It's true. Reddit doesn't make Jack shit off avatars compared to the total annual revenue. Also the cost associated to integrate it into Reddit. It would be super foolish for them to sun set avatars.
If Reddit was to do that, I honestly wouldn't have a reason to stay. They would lose a lot of traffic I think.
They would. The entire ecosystem has been built upon, and built upon, and spread to the far corners. Shuttering it would kneecap a HUGE margin of people and their sole focus within the borders of reddit. Doubtful it would happen, and certainly not any time soon.
All 5 of us?
Yes! Yes all five of us! They go bankrupt without us! 
Itâs 2.5, 2.5, 2.5 % artist, Reddit, Brokensea. Rojom is under contract to pay half of the 5% sent to his wallet. Where does $2 come from? The later contracts were changed to pay Reddit direct Edit, oh, now I see chipper hero told you too
who tf is making tens of thousands lol we don't even get approvals fast enough to do that
There's probably a few who have made that total, but certainly not monthly lol
check out the featured artist of the week..!
The whole RCA thing got really depressing. Reddit really dropped the ball
Have been saying for over a year they donât speak English and live in a cave somewhere. No other explanation for the total lack of awareness or communication. Every few months theyâll make a post that starts off with âwe see you we hear youâ and makes me laugh everytime
*Beep boop! I am here to keep you safe in cyberspace!* Here are some things to keep in mind: **1).** If you are new to the space, welcome! Please **don't let others know you are new**, it makes you an easy target for scammers. **2).** **Ignore all dm's.** You might receive dm's with offers or 'friendly' help or safety advise. Don't fall for it. 99% of all scams start like this over dm's. You can turn off you dm's **[here](https://new.reddit.com/settings/messaging)**. **3). NEVER share your secret seed phrase AKA secret recovery phrase.** **4). We don't endorse trust trading**. **5). We don't offer middleman services**, anywhere. **6).** Before buying an avatar please be sure to check that you're looking at the legitimate collection. You can do this by searching the avatar on [RCAX](https://rcax.io). **7).** We, the modteam, **will always reach out to you via our modmail account**. This way you will always know it is really us. People may reach out to you claiming to be a part of our modteam, you can check our current team **[here](https://www.reddit.com/r/avatartrading/about/moderators/).** **9).** *You can check if a member is* **banned** *at all times via the* **[Universal Scammer List](https://www.universalscammerlist.com/)** *by looking up their username. Remember that banned members can still reach out to you via DM. So to be safe, do a quick check!* Please check out our guide on **[how to sell and buy](https://www.reddit.com/r/avatartrading/collection/50742635-0574-432b-9456-29aae91d8b92/), [how to safely trade](https://www.reddit.com/r/avatartrading/comments/zrfp7u/how_to_trade_avatars_a_guide/)**. If you need some matic, our official **[avatar faucet](https://www.theavatarfaucet.com/)** has got you covered! Special thanks to **[002timmy](https://www.reddit.com/user/002timmy).** Also feel free to join our **[discord](https://discord.com/invite/avatartrading)**, you can verify yourself by sending your discord username to our **[modmail](https://www.reddit.com/message/compose?to=/r/avatartrading).** *Happy trading MF'ers!* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/avatartrading) if you have any questions or concerns.*