- Reddit has started airdropping its “Collectible Avatars,” which are made of polygons.
- Based on their activity on the website over the previous week, some users were prompted to choose avatars from four collections: “The Singularity,” “Aww Friends,” “Drip Squad,” and “Meme Team.”
- As and when a user chose an item from one of the collections, the collectibles were produced.
Based on their activity on the website over the previous week, some users were prompted to choose avatars from four collections: “The Singularity,” “Aww Friends,” “Drip Squad,” as well as “Meme Team.” As and when a user chose an item from one of the collections, the collectibles were produced.
On the non-fungible tokens (NFT) marketplace OpenSea, the collectibles are listed. For example, the Singularity collection collectibles are currently selling for just over $15, while Drip Squad collectibles are currently worth more than $42. NFTs are electronic tokens that signify ownership of physical or digital assets.
Prices for a different collection made by chosen artists range from $9.99 to $99.99 and have already gone live on Reddit. Following a purchase, customers can use these avatars on Reddit or other websites because all ownership rights are transferable.
On Reddit’s own blockchain wallet, Vault, the avatars can be managed and preserved. In addition, community points powered by blockchain are presently available to users of Vault, and they can be used to purchase in-app items like badges.
In its user communications, Reddit has not referred to these avatars as NFTs. Blockchain technology, however, was still a long-term goal for the company; according to a prior statement, they see blockchain as one approach to delivering more empowerment as well as independence to communities on Reddit.
The social media network started testing a functionality earlier this year that let users set any NFT built on Ethereum as their profile photo. Based on its mascot “Snoo,” Reddit released limited-edition NFTs in 2021 under the name CryptoSnoos.