NFT Avatar Marketplace Coming to Reddit

NFT avatar marketplace coming to Reddit

With today’s launch of Reddit’s new NFT-based avatar marketplace, you will now be able to buy blockchain-based profile pictures for a fixed rate as part of your Reddit subscription.

In the company’s statement, it said you do not need a crypto wallet to buy them, which is why a credit or debit card should be enough, and if you want to store them on their website, you can use Reddit’s own wallet app.

Attractive NFT Avatars

TechCrunch reports that the social network will release 90 designs during this early-access period, and the total amount of NFTs going on sale in this phase is expected to reach “tens of thousands,” according to the article.

Aside from the fact that you will have licensing rights for the limited-edition NFTs purchased by the company, you will also be able to use it both on and off of Reddit as an avatar if you purchase one. Having these rights doesn’t allow you to make merchandise or TV shows based on the bored ape that owns the NFT, but they aren’t as extensive as owning an NFT from Yuga Labs’ Bored Ape Yacht Club collection that allows you to do that.

Furthermore, you can also mix and match your avatar’s look with merch that is available in the avatar builder, and in communities, your avatar will appear to glow when you post a comment.

Reddit has had some experience with NFTs in the past, and this is not its first time. After Twitter released a similar feature a few weeks ago, the company began testing a feature this year that added the ability to set any Ethereum-based NFT as your profile picture. There was a limited-edition NFT created by Reddit based on its mascot Snoo, called a CryptoSnoos that was released last year.

According to a Statement from Reddit:

“In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit. Reddit has always been a model for what decentralization could look like online; our communities are self-built and run, and as part of our mission to better empower our communities, we are exploring tools to help them be even more self-sustaining and self-governed.

In order to produce these avatars on a blockchain, Polygon has partnered with Reddit to do so. Using Vault, Reddit’s blockchain wallet, you can store and manage your NFTs in a manner that’s compatible with the Reddit native app – as it is available on the company’s official website. As of right now, Vault offers users the chance to earn blockchain-based community points and then spend them on special features such as badges and animated emojis.

As far as Reddit is concerned, NFT profile pictures are still in the early stages of development, but it hopes to explore more features that can be derived from the technology in the future.