Reddit is working on blockchain-based digital collectable avatars, and this avatar is likely to be designed by artists. These are independent artists to be users (Called Redditors), and they can put their NFTs on Sale. It is not open to everyone, and It’s currently in Beta and invite-only for this Reddit users to join the r/collectibleavatars subreddit to purchase the avatars via Reddit Avatar Store.
Reddit is looking to expand in the coming weeks, and the avatar cost goes from $9.99 to $99.99. In the past, we have seen Meta experiment with NFS support, including Facebook, Instagram and Twitter. After purchasing, there isn’t any benefit except using it as Profile Picture.
Artists will be paid for every avatar, and buyers have the right to use it even outside Reddit. Additionally, Reddit will pay the royalties from aftermarket sales of their collectable avatar on third-party Marketplaces. Redditors will have a vault (Ethereum-Compatible blockchain Polygon), which is stored to be powered by a blockchain wallet on Reddit, where users currently keep their community points.
Users don’t have to use cryptocurrency to purchase; they buy using fiat currencies, including US dollars. Reddit has improved Avatar Builder with countless accessories, outfits, and hairstyles, making it a wider collectable. Therefore, you can use to customize your avatar using gear and accessories.
They also partner with Netflix, Riot Games, AFL, and others to be the feature. The company said they want to empower artists by offering a platform to create and sell their work. Reddit has had these avatars for more than two years. It allows the creation custom mascot, which can be set as a profile picture. To highlight, the NFT-Reddit Profile Picture will have a glow-like effect.
