Reddit has announced that it is launching a new, non-fungible token-based avatar marketplace that allows users to purchase blockchain-based images that can be utilized as a profile picture at a fixed rate.
Furthermore, the company also said that users do not even need a cryptocurrency wallet to buy the NFTs since they can use a credit or debit card.
Reddit's wallet product can be used to store these NFTs. If users want to mint their avatars on-chain, Reddit has a partnership with the Ethereum-compatible blockchain known as Polygon.
The company also said it would release a total of 90 designs, with the total number of NFTs going on sale in the early-access phase being in the "tens of thousands." However, no official number has been announced.
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If a user purchases one of these limited-edition NFTs, they will have the licensing rights to use them on and outside the Reddit platform as an avatar.
At the start, NFT avatars will only be available to members of the invite-only subreddit known as r/CollectibleAvatars, and the listed price will range from $9.99 to $99.99.
The design of these avatars can be mixed and matched with merchandise, which is a part of the avatar builder. The avatars will also feature a "glow" effect next to their comments within the community posts.
The collectible avatars will become available for everyone to buy on the avatar builder page sometime in the next few weeks.
Until then, community members will get behind-the-scenes access to posts about one-off profile pictures, access to Ask me Anything by artists and details about setting up their cryptocurrency wallet.
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