Reddit announces new blockchain-backed ‘Collectible Avatars’
The company said that the project is set to utilize the Polygon (MATIC) blockchain for decentralized trading and third-party sales. Content aggregation, ranking, and discussion website Reddit announced a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the general public in the next few weeks. For now, Reddit is providing first-look early access to a limited number of people who join the r/CollectibleAvatars community.Collectible Avatars are a set of limited-edition artwork created by....
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The social media and discussion website Reddit has announced the launch of blockchain-backed collectible avatars. The collectible avatars are stored via the Polygon blockchain as the chain was chosen for its “low-cost transactions and sustainability commitments.”
Reddit’s Polygon-Backed Digital Avatars Will Soon Be Available to the General Public
On July 7, 2022, the staff at Reddit announced the launch of blockchain-backed Reddit avatars that are stored on the Polygon network. It’s not Reddit’s first rodeo with blockchain technology as the....
Amid the growing popularity of NFTs, a new player in the segment – God Temple has announced its first celebrity partnership. According to the latest update, the AC Ventures-backed project has joined forces with North American comics artist Pat Lee to create digital collectible art. In addition, God Temple has also formed a strategic partnership […]
Reddit’s launch of limited edition NFT avatars has led to a large premium on secondary sales on OpenSea. Sales of recently launched Reddit blockchain-based avatars are rising on nonfungible token (NFT) marketplace OpenSea, outperforming the platform’s proprietary store.Reddit, the “front page” of the internet, plugged into the burgeoning world of NFTs with the announcement of collectible avatars in July 2022. The avatars became available to users in August and are already generating thousands of dollars in sales for artists.Reddit users are able to purchase a variety of avatars for their....
Popular social media platform Reddit will launch a new feature called Collectible Avatars. These blockchain-backed items are non-fungible tokens (NFTs) running on Ethereum’s second-layer scalability solution Polygon. Related Reading | How This Elon Musk Company Has Enable DOGE Payments For Las Vegas Transportation The social media platform has tested the feature since January 2022, but rumors […]
Earlier today, Reddit posted to its blog and announced the "Reddit notes," the name of the long-awaited Reddit cryptocurrency. Reddit recently closed a $50 million USD funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital. Soon thereafter, Reddit announced their plans to "share" 10% of the equity raised with the loyal users of Reddit, without whom the funds could not have been raised. To help with their new cryptocurrency, Reddit posted a job ad for a "cryptocurrency engineer" and quickly hired BitPay developer Ryan Charles back in....