Reddit, Twitter and the NFT Race: What Happened and Why It Matters

Three names are often grouped together when people talk about large media and social brands entering NFTs: Reddit, Twitter and CNN. Their involvement differed, so it helps to separate them before drawing conclusions.

Reddit launched Collectible Avatars, a set of NFT profile images built on the Polygon network. A December 2022 finance report in public reporting said more than 4.25 million unique wallets held the program's Polygon assets, which shows how quickly a large user base can be introduced to wallets. Earlier, in January 2022, a technology outlet reported that Reddit was testing a feature that would let users set NFTs as profile photos.

Twitter, now operating as X, added a feature in 2022 that let paid subscribers show certain NFTs as profile pictures. The image appeared in a special frame, and the app checked that the linked wallet held the token. This was a display feature rather than a marketplace, so people could use it without trading anything themselves.

CNN is the odd one out. The CNN item in these results is a 2021 newsletter about the so-called Reddit Rebellion, a trading frenzy in GameStop shares. It is not a report of CNN launching an NFT product. Because nothing in the results shows CNN running an NFT marketplace or collection, this guide does not treat CNN as an NFT entrant.

Large platforms looked at NFTs for a few clear reasons. Each one explains why a company might launch a collectible rather than only a feature.

• Identity: a profile image that proves a wallet is held by a user can signal status inside a community.
• Engagement: collectibles can give users a reason to return, especially when they tie into a favourite brand or sport.
• Onboarding: a simple purchase can introduce someone to a crypto wallet without asking them to learn much about trading.
• Revenue: primary sales and creator royalties can create income, though royalty rules vary by marketplace and network.

Each reason has a trade-off. A display feature can work even if few people buy anything, but a collectible program depends on demand, resale activity and a team that keeps running the product. Many launches in 2021 and 2022 were judged by how many wallets they reached, which is not the same as how many holders still find the items useful.

When you read about a brand entering NFTs, ask which of these goals it is pursuing. The answer shapes what the product must do to succeed and how much support you can expect over time.

Reddit's Collectible Avatars were presented as a way for users to show a digital avatar that linked to a token they owned. In practice, the process involved a few steps that are typical of brand-run NFT products.

1. A user creates or connects a compatible wallet, such as a browser or mobile wallet that supports the Polygon network.
2. The user obtains an avatar through the platform's official route, which can be a claim, a purchase or a drop depending on the program's rules at the time.
3. The user confirms the token is in the wallet and selects it in the platform's settings.
4. The platform displays the avatar, and other users can see the link between the profile and the token.

The program's future is less certain than its launch suggested. A January 2025 report in the results said that the project lead was stepping down and that holders were unsure how the program would develop. Leadership changes do not automatically end a product, but they are a signal to check its status more carefully.

If you hold an avatar, read the platform's current official notices and keep your wallet backup safe. Do not rely on a forum post or a secondhand summary for the program's rules.

Twitter's NFT profile picture feature was built around a simple check. The app looked at a wallet linked to the account and confirmed that it held a supported NFT. If the check passed, the picture could appear in a hexagonal frame instead of the usual circle.

It is worth separating the display feature from buying NFTs. Showing an NFT as a profile picture required a subscription and a compatible wallet connection, but it did not require any trading on a marketplace. That made the feature easy to try, even for people who had never bought a token.

The feature was also limited. Only certain NFTs were supported, and the rules for which networks or collections qualified changed over time. Some users reported confusion when a picture stopped displaying after a wallet or policy change, which shows why a display feature depends on the platform's continued support.

Because X has changed features and ownership over time, check the official help pages before relying on the feature. Look for the current subscription requirements, supported networks, and steps for connecting a wallet. Avoid third-party sites that promise to add or unlock profile features for a fee.

The CNN part of the headline needs a clear answer. The results show a 2021 newsletter covering the so-called Reddit Rebellion, which was about a trading frenzy in GameStop shares. That story sat near the NFT conversation in the news cycle, but it was not a CNN NFT launch.

If you see claims that a news organisation has entered NFTs, check the source carefully. Look for an official announcement on the network's own website, a statement from the company, or a clearly labelled product page. Be wary of a headline that links a news story to an NFT project only through a shared topic, a reporter's byline, or a general mention of the sector.

A useful test is to ask what a reader can do after reading the claim. If there is a named product, a contract address, a marketplace listing or a published terms page, the claim can be checked. If the only evidence is commentary, the claim is an opinion or a rumour until proven otherwise.

This guide therefore treats the CNN link as unconfirmed. It focuses on the Reddit and Twitter examples, which have clearer records in the results, and it explains how to check any similar claim you see.

Brand-run collectibles and open marketplaces serve different needs. The table below compares the features that matter most when you are deciding where to look, using general characteristics rather than current figures.

Feature	Brand-run collectibles	Open NFT marketplaces
Main purpose	Fan, community or membership use	Trading across many collections
Who sets the rules	The brand or platform	The marketplace and the token contract
Range of items	Usually limited to the brand's products	Often thousands of collections
Support risk	Depends on the company keeping the product live	Depends on the marketplace and network
Resale market	Can be thin and tied to one platform	Usually wider, but prices can be volatile

Some examples in the wider market sit between these two types. Sports and entertainment products such as NBA Top Shot and NFL All Day were built around licensed highlight collectibles, while Telegram Gifts are tied to a messaging app and its marketplace. Open marketplaces such as OpenSea and Element Market let you browse many collections in one place.

Neither type is automatically better. A brand-run product may offer clearer official support, while an open marketplace may offer more choice and more ways to exit a position. Check the rules and fees on any platform before you buy.

NFT prices and interest have moved sharply since the 2021 peak, and many brand-led products saw strong early demand followed by quieter trading. A forum post in the results claimed that prices for many NFTs had fallen by very large amounts, but a claim like that is a snapshot from one source, not a measure you should rely on. Check recent sales data from a block explorer or the marketplace itself.

The main risks fall into a few groups:

• Team risk: a change in leadership or a shift in company strategy can change a product's roadmap.
• Platform risk: if a brand stops support, features that depended on it may stop working.
• Liquidity risk: a collectible may be hard to sell at a fair price, especially if few people want that item.
• Scam risk: fake brand accounts and copycat collections often appear when a famous name enters a market.
• Tax and legal risk: rules on crypto gains, reporting and consumer protection vary by country, so take local advice where it matters.

No single factor decides the outcome. A collectible with strong community use and clear official support can still lose value, and a product with heavy hype can fade. Treat any purchase as a speculative use of money you can afford to lose.

Before you buy a brand-linked NFT, run through a short checklist. Each step takes only a few minutes and can prevent the most common mistakes.

1. Find the official source. Start at the brand's own website or verified social accounts, not a reply, a direct message or an advert.
2. Confirm the collection details. Look for the published contract address or collection identifier and compare it with the marketplace listing.
3. Check the network. Make sure the item is on the chain the brand describes, and that your wallet supports that network.
4. Read the terms. Look for statements about support, refunds, royalties, usage rights and what happens if the product closes.
5. Review recent activity. Use a block explorer or the marketplace's history to see whether the item has traded recently and at what prices.
6. Look at the team and updates. Recent official notices matter more than old promotional posts.
7. Set a budget. Decide the maximum you can lose before you connect a wallet.

If any step cannot be completed, pause. A missing contract address, vague terms or a rushed sale window are warning signs in their own right.

Most losses from NFT purchases come from security mistakes rather than market moves. Basic habits can reduce that risk considerably.

• Never share your recovery phrase or private keys with anyone, including people who claim to be platform support.
• Type important web addresses yourself or use a saved bookmark, and check the spelling before you connect a wallet.
• Read each signature request carefully. A request to approve unlimited spending of a token is a common way to drain a wallet.
• Review and revoke token approvals you no longer need, using a reputable wallet or an explorer tool.
• Keep most of your crypto in a separate wallet from the one you use to browse new collections.
• Ignore unsolicited messages offering free mints, airdrops or support, especially those that ask you to click a link.
• Keep software and your device up to date, and use two-factor authentication on email and social accounts.

If you think you have been phished, move remaining assets to a new wallet you control, revoke suspicious approvals, and report the incident to the platform and to local consumer or cybercrime authorities. Acting quickly can limit further loss, though it cannot always recover funds.

Because the status of brand NFT programs can change, the most reliable approach is to check several sources rather than trust a single article. Use the list below as a starting point.

• The brand's official website, help centre and announcements page.
• Verified social media accounts of the brand, checked for matching names and handles.
• The marketplace page for the collection, including its listed contract details and any notices.
• A block explorer for the relevant network, which shows the contract, token transfers and recent sales.
• Reputable news coverage that quotes the company or cites a primary source.

When the sources disagree, treat the official brand statement as the strongest evidence, and treat anonymous posts as leads to verify. Record dates when you check, since an article from one year may be outdated the next.

The figures that change most often, such as floor prices, trading volume and holder counts, should always be read live on the marketplace or explorer. An explainer can describe how to find them, but it cannot keep current numbers on the page.

The main lesson from the Reddit and Twitter examples is that a large brand can bring people into NFTs quickly, but the product still has to earn ongoing use. Reddit's avatar program showed how far a platform can reach through a simple wallet-linked feature. Twitter's profile picture option showed how an NFT can be used as a display item without any marketplace trade.

The CNN link in the headline should be treated with caution. The results do not show a CNN NFT product, so any claim about CNN entering the market needs its own official confirmation. The same discipline applies to any new brand launch you read about.

If you are interested in NFTs, start with the basics: learn how wallets and networks work, check each collection against official sources, and keep your spending small. Brand-led collectibles can be fun for fans, but they carry platform, market and security risks that are easy to overlook.

Return to official sources regularly, because feature rules and program status can change without much notice.