Today, Reddit took a step closer to the crypto world: NFT Avatars will be available on the platform soon
The largest social media platform has now announced the introduction of NFT Avatars, which will be designed by Polygon. In the coming days, get ready to experience NFT on Reddit as the platform plans on launching Non-Fungible Tokens Avatar Collectibles, which Polygon will host.
Today Reddit is launching a new NFT-based avatar marketplace that allows you to purchase blockchain-based profile pictures for a fixed rate. #NFTs https://t.co/7pYes9g9jY
— Adel (@AdeldMeyer) July 7, 2022
Reddit has housed countless online communities and forums so far and is planning on partnering with independent artists to create unique characters, which will be available for Reddit users to purchase.
The best part is that these avatars will not just be used for flexing; the buyers will have the licence to use NFTs on and off the platform. According to the press release, Reddit users who own collectible avatars and use them as display images will have a positive impact on their comment sections.
What are the terms and conditions for purchasing the avatars?
Despite the interesting addition to one of the oldest social media platforms, the NFT Collectables will only be available to purchase through local currencies for now; a crypto payment gateway will not be available anytime soon. Also, the exciting avatars cannot be auctioned in any of the secondary markets and cashed out.
The company further said that they are looking at the direction of blockchain and see the future of independence and empowerment for various communities functioning on Reddit. The introduction of the NFT Collectables is just one step in the way of testing how the concept will function and benefit the platform.