But, at the end of the day, Reddit's collectible avatars are NFTs, whether Reddit uses the term or not. Not everyone is a dedicated poster.
What are Reddit avatars?
Reddit Avatars are limited-edition collectibles created by independent artists. They are blockchain-based images that also serve as non-fungible tokens (NFTs). Reddit Avatars are hosted on the Polygon blockchain and comprise multiple NFT collections. Polygon is an Ethereum-compatible scaling solution offering low-cost transactions.
How do NFTS work on Reddit?
Collectible avatars will be stored in Reddit's own "blockchain-powered wallet" called Vault. And, according to Reddit, Artists will get paid for every piece that sells on Reddit as well as earn royalties from aftermarket sales on third-party marketplaces. Again, all things that are unanimous with traditional NFTs.
Is Reddit anti-NFT?
The Reddit community, broadly speaking, is notoriously anti-NFT. Yet the web2 social media giant’s foray into the NFT space with the Reddit Avatars collection in July 2022 was a smash hit. The initial collection of 40,000 NFTs sold out quickly on the Reddit marketplace. They are now available only on secondary NFT marketplaces such as OpenSea .
