Reddit has launched the Avatar NFT marketplace on the Polygon Blockchain, to be used as a profile image. Artists will be able to create and sell their Non-Fungible Tokens, while users will be able to buy them even without having a crypto wallet.
Reddit and NFT Avatar marketplace developed on Polygon
The US-based social network Reddit has launched its Avatar NFT marketplace that will give artists the ability to create and sell their Non-Fungible Tokens, and users the ability to buy them and use them as a profile picture, even without needing a cryptocurrency wallet.
Reddit has reportedly chosen Polygon Blockchain to make its Reddit Avatar Builder portal available to artists. Not only that, as opposed to the already available free Reddit Premium avatars, artists will now be able to sell their NFTs directly on the social platform.
Indeed, each avatar has a fixed price and is purchasable with fiat currencies and will soon be available, in a limited edition, for purchase in the Reddit Avatar Builder, with proceeds going to the artists who designed them.
Currently, Reddit users (the redditors) will have early access to the r/CollectibleAvatars community. In this community, people can learn more about how to buy collectible Avatars, create wallets to store them, and get to know the artists with behind-the-scenes posts, AMAs, and more.
Reddit wants to empower artists through NFTs
What the US-based social network is doing is testing the benefits of blockchain through its platform, with the goal of empowering artists through NFTs.
Specifically, here is how Reddit describes it:
“From the start, our goal has been to empower artists to create and sell their work. Artists will get paid for every Collectible Avatar that sells on Reddit, less any fees, and are also entitled to receive royalties from secondary sales of their Collectible Avatars on open marketplaces”.
The new service for selling collectible Avatars, will be available to everyone in the coming weeks.
Not only that, to store and manage the collectible Avatars, redditors will use their Vault, a blockchain-powered wallet on Reddit. The Vault provides users with a specific digital wallet address that runs on all Ethereum-compatible blockchains; it is the same Vault where redditors currently store Community Points.
The integration of NFTs issued on the Ethereum blockchain
A few months ago, just after Twitter’s initiative with its profile image in NFTs, Reddit had already started integrating NFTs issued on Ethereum blockchain.
Made available for sale on OpenSea, the first NFT collection “Reddit CryptoSnoos” were already usable avatars within the American social platform.
In that instance, however, redditors could only proceed by linking their MetaMask wallet to their Reddit account to display their CryptoSnoos collectibles on the platform.