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Over 3 Million Users Opened Crypto Wallets on Reddit To Purchase Its Collectible Avatar NFTs

admin — Tue, 25 Oct 2022 01:11:37 +0000

About two years ago, Reddit launched a new Avatar Builder, allowing individuals to generate and customize their own personal avatar – a new way to display identity on Reddit. Shortly after, they made accessories, outfits, and hairstyles available to allow for more individual expression. They also brought “Redditor”s custom avatars in collaboration with partners like Netflix, Riot Games, and the Australian Football League (AFL).

Reddit announced on Twitter back in August the launch of a Polygon-based series of “Collectible Avatars” for users. The Collectible Avatars are backed by blockchain technology, giving purchasers rights to use the art on and off Reddit.

The avatars can be stored and managed on Reddit’s own blockchain wallet, Vault, which is currently used to earn blockchain-based community points and spend them on in-app features such as badges. The company said customers do not need an existing crypto wallet to purchase these non-fungible tokens (NFT) but can use credit or debit cards to buy the assets.

Chief product officer, Pali Bhat, stated that over three million users have opened crypto wallets to purchase one of Reddit’s Collectible Avatar NFTs. Based on the current figures, Reddit potentially has more active wallets than OpenSea – with 2.3 million active wallets.

Reddit Has Begun Airdropping Its Collectible Avatars To Users

admin — Fri, 26 Aug 2022 19:06:30 +0000

About two years ago, Reddit launched a new Avatar Builder, allowing individuals to generate and customize their own personal avatar – a new way to display identity on Reddit. Shortly after, they made accessories, outfits, and hairstyles available to allow for more individual expression. They also brought Redditors custom avatars in collaboration with partners like Netflix, Riot Games, and the Australian Football League (AFL).

Reddit announced in July of this year on Twitter the launch of Polygon-based “Collectible Avatars” for users. The Collectible Avatars are backed by blockchain technology, giving purchasers rights to use the art on and off Reddit.

In the past week, some users were asked to select avatars from four collections – “The Singularity,” “Aww Friends,” “Drip Squad” and “Meme Team” – based on their participation on the website. The collectibles were created when a user selected an item from one of the collections.

Reddit Announces Launch of Their Own Polygon-Based “Collectible Avatars”

admin — Sat, 09 Jul 2022 16:43:08 +0000

About two years ago, Reddit launched a new Avatar Builder, allowing individuals to generate and customize their own personal avatar – a new way to display identity on Reddit. Shortly after, they made accessories, outfits, and hairstyles available to allow for more individual expression. They also brought redditors custom avatars in collaboration with partners like Netflix, Riot Games, and the Australian Football League (AFL).

Reddit has now just announced on Twitter the launch of a Polygon-based “Collectible Avatars” for users. The Collectible Avatars will be backed by blockchain technology, giving purchasers rights to use the art on and off Reddit. The avatars can be stored and managed on Reddit’s own blockchain wallet, Vault, which is currently used to earn blockchain-based community points and spend them on in-app features such as badges. The company said customers do not need an existing crypto wallet to purchase these non-fungible tokens (NFT) but can use credit or debit cards to buy the assets.

Approximately ninety designs have been produced in collaboration with independent artists, with the total number of NFTs going for sale in this early-access phase being in the “tens of thousands,” Reddit said. The NFT avatars will initially be available to members of the “CollectibleAvatars” invite-only subreddit.