Reddit is coming into the NFT sport as its customers who’ve earned ample karma are eligible to obtain a free NFT that’s minted on Polygon. Based mostly on the Snoo character, Reddit not too long ago introduced that the dialogue platform would launch a sequence of NFT collections.
These NFTs are known as “Collectible Avatars” – you should purchase these through cryptocurrency tokens. Along with Reddit promoting these avatars, the platform has began giving some away to the platform’s prime customers.
Round ten days in the past, person “u/crowd_pleaser” introduced within the subreddit “r/CollectibleAvatars” that the platform will begin freely giving Collectible Avatars to their “prime neighborhood builders.”
Because the NFT assortment marks a brand new section in its journey, Redditors’ person factors at the moment are lastly used. Not solely has the platform began air-dropping them free NFT avatars, however the customers may even be given an possibility to select from 4 distinct new types of Collectible Avatars.
The Collectible Avatars are minted on Polygon, a scaling community for Ethereum. Polygon allows sooner, cheaper, extra environment friendly transfers and transactions than the Ethereum mainnet.
Reddit additionally sells these NFTs to common customers – the value ranges from $9.99 to $99.99, relying on the choice. What’s fascinating is that Reddit is following the trail of Coca-Cola and Esports Crew 100 Thieves by not calling these avatars “NFTs.”
The platform is taking part in advertising and marketing techniques because the time period “NFTs” represents environmental injury to some web of us (take Ethereum, for instance). The gathering comprised solely 4 whole NFTs, considered one of which was offered for 175 ETH (equalling over $400,000)
Late in 2019, Reddit launched Group Factors because the platform began exploring the blockchain area. Since then, they’ve been attempting totally different scaling platforms to deliver their concepts into actuality and accommodate a wider viewers with tokenized rewards.
Arbitrum, an Ethereum scaling community from Offchain Labs, was lastly chosen by Reddit. This month, the challenge was launched on the mainnet utilizing the brand new Arbitrum Nova chain.