Reddit to Sell NFT Avatars

Reddit is launching Collectible Avatars marketplace leveraging NFTs hosted on Polygon blockchain.

Reddit is probably the slowest social network to introduce NFTs, but it’s finally here. One step behind Twitter, Facebook and Instagram, Reddit, home to countless forums and online communities, is partnering with independent artists to create unique customisable avatars that users can buy for a fixed price. Just like Instagram, they are striving to help promote young artists.

Just a quick recap on how things progressed. Two years ago, Reddit launched their improved Avatar Builder, so redditors could customise their avatars with different accessories. There were also exclusive avatars in collaboration with Netflix and Riot Games. Avatars took off, so they decided to let independent artists earn some money and make some money themselves, so they launched Collectible Avatars. Just to name a couple of artists who designed them: u/BigGayBaby draws inspiration from drag queens, u/Canetoonist — from cartoons and comics, u/WorstTwitchEver — from auras and emotional powers.

Besides having a glow-like effect when shown in the comments, these avatars can be used by owners in and off of Reddit thanks to blockchain technology. However, 87 Collectable Avatars will only be available for purchase using fiat currencies, like U.S. dollars.

In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit. Blockchain-backed Collectible Avatars are one of the early steps we’re taking to test out the potential benefits of this concept on Reddit.

Collectible Avatars are stored and managed in a Vault, a blockchain-powered wallet on Reddit where Redditors currently store their community points. Reddit promises fraud-protection: they will only work with a small group of artists, apply compliance checks for their participation, and perform a thorough review of all designs for their authenticity. It’s also using the Polygon blockchain, which is supposed to keep transaction costs energy-efficient.

Initially, avatars will be available to a limited number of redditors who join the r/CollectibleAvatars community with information on the program and behind-the-scenes interactions with artists.

Honestly, the avatars are not at all impressive, and this is clearly a test for Reddit as they have been moving ever so slowly on the matter of NFTs . Let’s see how these avatars will progress.