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Friday, September 29, 2023

Avatars created on Reddit can be purchased as NFT

Popular social media platform Reddit has announced that it will soon launch blockchain-powered avatars. It was stated that these works will not be sold with cryptocurrencies.

Due to the popularization of blockchain technologies, many technology giants started to invest in these issues. Social media platforms were also among these companies. Following Twitter, Reddit was also working on a feature that would allow NFTs to be used as profile photos.

US-based Reddit has now decided to make another move on NFTs and blockchain technologies. The company stated in its statements that blockchain-supported avatars will be available for sale. It was stated in the statements that users can use the works they purchased as their avatars, and that these avatars will have glowing effects in the comments section.

These works, which are stated to be limited according to the statements, will start to take place in Avatar Builder, which allows you to create avatars on the platform. It was also among the statements that these NFT were created by independent artists collaborating with Reddit and could be personalized later.

The company also explained the difference of these avatars from other avatars on the platform. Accordingly, these digital assets will be different from other avatars by being purchasable, with the support of the blockchain, which gives buyers the right to use the artifact. Also, cryptocurrencies will not be required to purchase these NFT; that is, normal currencies can be used.

Additionally, it was reported that the purchased artifacts can be stored and managed with Vault, the platform’s blockchain wallet. Noting that the artists will receive a share of the sales, the company said that these avatars are currently stored on the Polygon network; He added that they chose this network for its low transaction fees and sustainability goals.

The works will be made available to everyone in the coming weeks, also has been stated that members of the r/CollectibleAvatars community may have early access to avatars.

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