Reddit has introduced a new NFT project supported by the blockchain and called them “Collectible Avatars.” The discussion platform known for content aggregation and ranking launched the new digital collectibles on Thursday, July 7, saying they will be available to the public in a few weeks.
The reveal was first noticed in a press release from a Reddit employee announcing the launch of blockchain-based Reddit avatars that run on the Polygon network. The announcement stated that users do not need cryptocurrency to buy these avatars, and they will not be auctioned. Each avatar has a set price and can be bought with fiat (government-issued) money.
The Collectible Avatars are only accessible during the NFT presale phase, which offers early access to a limited group of people who join the r/CollectibleAvatars forum. The forum is a place to learn more about Collectible Avatars, set up wallets for storage, and get to know the creative artists. It also serves as a space for project-related AMAs.
To control the Collectible Avatars, Reddit directed owners to Vault, the platform’s blockchain-supported wallet operating on Ethereum-compatible chains. Vault is also the place where Redditors store their community points.
Reddit Supports Artists On The Platform
According to Reddit’s blog post, the new series of Collectible Avatars are a capped edition designed by random artists in collaboration with Reddit. Redditors who invest in the NFTs will enjoy certain on-platform benefits when they set their Collectible Avatar as their avatar on Reddit. One such benefit is mix-matching their profile image with avatar gear and accessories and having a glow-like effect in their profile image in the comments section.
According to the announcement, the artists who created the digital arts will receive royalties for every sale, with individual purchases giving the respective NFT owners rights to the art both on and off the platform. In addition, NFT owners can trade the Collectible Avatars on secondary marketplaces such as OpenSea and SuperRare, not on Reddit.
Drawing from the Reddit press release, most artists who participated in this project were drawn from renowned creative communities such as r/comics, r/procreate, and adobe illustrator, cultivating and bringing forth their learned and acquired skills to develop Collectible Avatars. In addition, some artists were local, drawn from Reddit’s network, and given a chance to showcase their skills to Reddit for the first time.
The development adds to the platform’s blockchain technology repository, as the social media and discussion platform collaborated with Arbitrum in their layer two (L2) technology with Ethereum-based community point tokens in 2021. Later that year, Reddit hired an executive engineer for a platform that supported NFT-backed digital goods before reporting in January 2022 on the supposed testing of NFT profile picture functionalities.
Avatars on Reddit
Barely two years ago, Reddit unveiled an Avatar Builder enabling platform users to develop and customize their avatars, thereby achieving a new way to display their identities on Reddit. Next, the discussion platform presented several accessories, gears, and hairstyles that gave Redditors more expression. The developments were followed by purchasing Redditors’ custom avatars in partnership with Netflix, Riot Games, and the Australian Football League (AFL).
The success of avatar projects on Reddit in the past inspired what we have now. The new release shaped the platform’s interest in seeing what would happen when artists on Reddit were licensed to develop their styles of avatars. The launch also draws from the platform’s desire to see the result of giving artists an avenue for displaying their art to the whole community and earning money in the process, thus Collectible Avatars.
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