![]() It is worth noting that Reddit decided to use Layer 2 scaling solution Polygon as the platform to launch Collectible Avatars – reportedly due to Polygon’s low-cost transactions and carbon neutrality commitments. ![]() Users can store purchased avatars in their Vault, which is Reddit’s own blockchain wallet solution supporting all Ethereum-compatible blockchains. Reddit also launched a subreddit dedicated to the avatars r/CollectibleAvatars. “Collectible Avatars are backed by blockchain technology, giving purchasers rights (a license) to use the art – on and off Reddit.”Ĭollectible Avatars are available to purchase on the site’s own marketplace at a fixed price, ranging from roughly $10 to $100. The launch of Collectible Avatars comes roughly six months after Reddit started testing NFT functionality on the site, thus mimicking other major social media firms, including Twitter and Instagram.Īn excerpt from Reddit’s blog post reads: Although the social media platform completely omitted any kind of NFT-related terms in its blog post, the newly-launched collector’s items are still image-based, blockchain-powered collectibles that are not fungible – in short, they are non-fungible tokens (NFTs). Social media giant Reddit announced on Thursday the launch of so-called Collectible Avatars. Reddit launches NFT collection without admitting to doing so ![]()
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