Reddit launches a marketplace for its NFT avatars

Reddit’s gradual move towards Web3 is no longer a secret, but the community site has just taken a significant step. He launches a marketplace for non-fungible tokens (NFTs) that act as profile pictures on Polygon (MATIC). Update on this progress and its limitations.

Reddit offers NFTs to its users

The news was announced yesterday by teams of Reddit. The site, which had already offered to create your own avatar for two years, is now moving on: it will soon be possible to buy his profile picture in the form of a non-fungible token (NFT).

The success of our avatars made us think. […] What if we could help [les artistes de Reddit] promote their art to the entire Reddit community and help them make money from their work?

Reddit’s NFT Marketplace launches as a test, and it will initially only include 87 designs. Users using one of these non-fungible tokens will see their profile picture light up a bit next to their comments and posts. Artists will be paid for each purchase and will receive royalties for all resale made on other sites whenever possible.

Reddit’s NFTs will be made available at a fixed price, not as an auction. Buyers can too pay directly with fiat currencywithout cryptocurrencies being initially accepted.

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NFTs available on Polygon (MATIC)

Reddit chose Polygon, which the statement describes as: “A general blockchain, compatible with EthereumLow transaction fees as well as lower ecological costs are also highlighted will be stored in The VaultReddit’s wallet, which supports blockchains compatible with Ethereum (ETH).

In any case, this is a big step for Reddit. Community website had already introduced cryptocurrencies for its / r / cryptocurrencies forum in particular. This had largely been seen as a first test before this kind of functionality was rolled out to a wider section of the site.

However, we feel a certain caution on Reddit’s part. Until further notice, avatars in NFT will be available in isolation, without possible resale outside the marketplace. But the site places its farmers little by little, with several tests around the blockchain.

Også Also read: Polygon and Reddits co-founder allocates $ 200 million to Web 3.0Polygon and Reddits co-founder allocates $ 200 million to Web 3.0

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Source: Reddit

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