Reddit Unveils “Collectible Avatar” NFT Marketplace
- Reddit hinted that users can purchase all the NFTs through fiats and supported digital assets including MATIC.
As a measure geared towards offering users a platform to purchase blockchain-oriented profile pictures, Reddit, a popular social networking firm, has unveiled its Polygon-based “Collectible Avatar” marketplace. The firm made the announcement in a blog post relayed via its handle on Thursday. As revealed, it is not mandatory for subscribers to possess a crypto wallet to purchase profile pictures.
The social networking firm says that subscribers can use their respective credit or debit card to purchase blockchain-oriented pictures. It further recommended the usage of its own native wallet app by users in storing the pictures. Notably, the firm averred that every profile picture purchase on the new marketplace will be done at a fixed price. In addition, Reddit announced the plan to release about 90 designs, stressing that “tens of thousands” of NFTs will be pushed out for sale for the early access phase.
Reddit Taps on Blockchain Technology
According to Reddit, the assets intended for sale on the new “collectible avatar” marketplace manifested through partnerships with numerous artists. Also, the firm hinted that users can purchase all the NFTs through fiats. As revealed, these assets possess a fixed listing price, presently slated at $9.99, $24.99, $49.99, $74.99, or $99.99 respectively. It, however, promised to avail nonmembers of Reddit’s community of the opportunity to buy the collectible avatars on its “avatar builder page” in the coming weeks. Notably, Reddit hinted that purchasing any of its NFTs gives the purchaser the licensing rights to use the asset as an avatar on or off Reddit.
Worth noting, that the rights obtainable through the purchase of its NFTs is limited when compared to the rights obtained for holding Yuga Labs NFT. Findings reveal that holders of the Bored Ape Yacht Club collection enjoy the right to initiate merchandise or TV Shows. More so, they enjoy unrestricted access to the Yacht club via Discord.
Additionally, the social networking outlet vows to continuously focus on blockchain in its future investments. It stressed that such tends to help strengthen and give utmost autonomy to its communities. As reported, Reddit says the NFT profile pictures remain the starting point of its blockchain-oriented project. It, however, reiterates its commitment to harnessing more innovations associated with the tech.
Notably, the social networking outlet with this development joined the list of firms venturing into the world of NFTs. Recall that Meta, a leading social networking site unveiled its NFT support on Instagram two months ago. Last month, the networking platform took the NFT support innovation to its Facebook application. More so, Ebay, a multinational e-commerce firm recently secured the acquisition of an NFT marketplace, identified as KnownOrigin. Similarly, an audio streaming and media services provider, identified as Spotify, tested a feature that enables artists to foster virtual collectibles on their respective profiles.