The Complete Guide To Reddit Collectible Avatars
Following the footsteps of Twitter and Instagram, Reddit is now embracing NFTs on its social media platform. But instead of simply supporting NFTs on the platform, Reddit has launched an exciting new NFT collection. Introducing: Collectible Avatars by Reddit!
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What Are Reddit Collectible Avatars?
Reddit is partnering with creators around the world to launch a wide variety of blockchain-based avatars. The Collectible Avatars NFT project is an extension from Reddit’s Avatar Builder from 2020, where users can create their own avatars to use as their profile pictures. Reddit has also collaborated with Netflix, Riot Games, and other entities to introduce new accessories for the avatars.
Now, Reddit is actively onboarding artists and creators through their Creator Program to introduce more options for the avatars. Essentially, Reddit users can mix and match unique designs for their avatars, allowing the independent artists to have an additional income stream while Reddit takes a tiny cut from each sale.
The Collectible Avatars NFT project is built on Polygon due to its low transaction fees and sustainability commitments. By using blockchain technology, buyers now have the rights to use their avatars on and off Reddit.
Why Should You Get A Collectible Avatar?
If you want to stand out among the crowd, you should totally get yourself a Collectible Avatar. Profile pictures that use these avatars get a glow-like effect in the comments section. Given the rarity of Collectible Avatars today, your voice will definitely be heard everytime you post a comment.
Next, purchasing a Collectible Avatar directly supports the independent artists. Besides the revenue from the primary sale, they also get royalties every time an NFT is sold in the secondary market. Currently, the Reddit team runs a thorough evaluation before onboarding each creator to make sure that the community gets nothing but the best to style their avatars. In fact, many of them are actively involved in creative communities such as r/comics.
How To Buy Reddit Avatars?
While most NFTs and blockchain-based assets require the use of a digital wallet and the relevant cryptocurrencies, Reddit allows users to buy Collective Avatars using fiat currencies. This effectively bridges web3 technology to the mainstream Reddit users, where the notion of NFTs may still be foreign to many.
In your profile, click the ‘My Stuff’ dropdown menu and select ‘Style Avatar’. It will bring you to the Avatar Builder where you can customise your avatars, buy and style them with the latest designs. After the purchase, all Collectible Avatars will be stored in each user’s digital wallet a.k.a the Vault.
What Is The Reddit Vault?
The Vault is basically your blockchain-based digital wallet on Reddit. Once you initiate any blockchain-powered feature on Reddit, you will be prompted to create a Vault before you can proceed. You can store and manage your Ethereum-compatible digital assets in your Vault once you receive your public address. Given that this is your private wallet and only you have control over it, you need to remember your password or recovery phrase or risk losing all your digital assets. Your Vault wallet is currently accessible through your iOS and Android devices.
Moving forward, you can also add a custom token to your subreddit to reward your community. Similar to Collectible Avatars, these custom tokens are also blockchain-based and are basically cryptocurrencies within Reddit. Community points can act as a flexible tool to reward active members, encourage quality content, allocate voting power, etc. The possibilities are yours to discover.
How Can I Access Reddit Collectible Avatars?
You can start using Reddit avatars here.
Reddit Third Generation Avatar Launched On Polygon
Reddit has launched the third generation of its blockchain-based digital collectibles—Reddit Avatars on the Polygon blockchain. This has created a lot of buzz among community members and collectors who eagerly awaited the release. The Gen 3 Avatar contract was deployed on April 5, and users predicted that they would sell out quickly.
Reddit officially announced that the avatars would be released on April 11, with relevant digital collections launching in the Avatar Store. The current total circulation of Reddit Avatars has surpassed 10 million, with a market value of around $75 million.