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Reddit Releases Their Own NFT Avatar Marketplace

WikiBit 2022-08-16 12:49

Abstract:Reddit, a major global social media platform, has launched a new avatar marketplace that allows users to buy avatar pictures for a fixed price. Users don't need to have a crypto wallet to use the service - they can simply use their credit or debit card as a payment method.

  As social media users, taking turns in changing our accounts icon is a fun thing to do. The trend in emoji avatar personalization has recently made waves in the different social networking sites (SNS), letting users create their own character and making social media usage more fun and engaging.

  Reddit is a social media platform that combines social news, web content, and a social network into one—all while allowing you to take part in forums where people can create a community digitally. Recently, the giant platform has set the bar high by releasing their NFT-based marketplace in which selected users can enjoy personalizing and purchasing an avatar of their own.

  The platform allows you to buy a blockchain-based profile picture through non-fungible tokens (NFT). Although Reddit avoids calling this “NFT” and only mentions collectible avatars in their announcement. These will be kept using Polygons blockchain. Pricing range from the collections ranges from $9.99 up to $99.99.

  Redditors can access and buy these collectible avatars on the avatar builder page. The collection included 90 designs with avatar gears that can be mixed and matched with other accessories found on the builder page. Another feature it offers is the “glow-like effect” of the users profile image that is visible in the comment section to separate them from other avatars. On top of that, purchasing these limited-edition collections will automatically grant you access to use them on and off Reddit.

  The SNS collaborated with independent artists to uniquely design the avatars—WikiBit found that Reddit compensated the artists well by a 50/50 split in incentives in every piece sold.

  For non-crypto wallet users, WikiBit has exciting news for you! You can store and customize these avatars by purchasing using your credit or debit card. Users can store this in Reddit's wallet for digital assets.

  This project is not the first time that Reddit shows interest in NFT. Last year, Reddit launched CryptoSnoos—a limited edition NFT with a different version of mascot Snoo. Reddit continuously prospect the crypto market: they even let users utilize Ethereum-based NFTs as their profile image. Heading to explore more possibilities and features that a tech can offer, the company mentioned the potential of blockchain to further empower and embrace ones independence in the Reddit community.

  

  As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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