Reddit, a social media network for communities, is introducing a brand-new non-fungible token-based (NFT) avatar marketplace that will let users pay the price for blockchain-based profile photos. According to Reddit’s announcement, “tens of thousands” of NFTs in 90 designs are being made available in this early-access phase. NFT avatars will initially only be accessible to subscribers of the invite-only r/CollectibleAvatars subreddit, with quoted costs ranging from $9.99 to $99.99. https://t.co/RqlK6jXFFR — Reddit (@Reddit) July 7, 2022 Limited-Edition NFTs The business clarified that purchasers of its limited-edition NFTs would have the legal right to use them as avatars on and off Reddit. These avatars’ appearances can be customised using the avatar builder’s goods. In communities, users’ avatars will also display a “glow-like effect” next to their comments. Everyone can purchase these collectible avatars in the upcoming weeks on Reddit’s avatar builder page. Community members will receive special Ask Me Anythings (AMAs) from artists, behind-the-scenes posts regarding the one-off profile images, and instructions for setting up a wallet until then. Reddit has teamed up with Ethereum-compatible blockchain Polygon to mint these avatars on-chain. Reddit’s blockchain wallet, called Vault, accessible through the company’s native app, can be used to store and manage NFTs. NFT Reddit Features This is a deeper venture into NFTs for R...
