Reddit to introduce collectibles avatars supported by Blockchain by DailyCoin
Content aggregation, ranking and discussion site Reddit, a popular platform among crypto enthusiasts, announced the launch of a new blockchain-supported avatar system on Thursday, July 14th.
Although Reddit has not yet revealed the exact date of the feature’s release, the company expects to be able to introduce avatars to the community in the coming weeks. As it is now, Reddit has invited a select group of people to ‘r / CollectibleAvatars’ subreddit, giving these members of the community early access.
The Collectible Avatars project will use the Polygon (MATIC) blockchain for decentralized trading and third-party sales. According to Reddit, Polygon was specially chosen for its low-cost transactions and commitment to environmental sustainability. The block chain is also compatible with, which makes it an attractive alternative overall.
As part of the announcement, the company clarified that these collectibles are not technically NFTs, as cryptocurrencies do not play a role in the purchase or sale of the digital collectibles. However, Reddit indicated that the blockchain-backed Collectible Avatars represented an early step in the platform’s plan to test the potential benefits of integrating NFTs.
The work of independent artists
The recently unveiled Collectible Avatars will feature limited edition artwork created by independent artists on the Reddit platform. The company outlined that the project’s primary goal is to give artists the opportunity to develop and sell their work. Artists will be paid a share for each Collectible Avatar sold on the Platform, in addition to being entitled to receive royalties from any secondary sale of their art on open marketplaces.
“From the beginning, our goal has been to give artists the opportunity to create and sell their work. Artists will be paid for each collector’s avatar that sells on Reddit, minus any fees, and also have the right to receive royalties from secondary sales of their collector’s avatar. open marketplaces, “Reddit said in the announcement on their website. The new collection will be available on Reddit’s “Avatar Builder”, allowing users to purchase digital collectibles and use them as avatars. For each avatar of their work purchased, the artist will also receive a percentage of the fee. Collectible Avatar’s new owners will also be eligible to receive unique benefits.
As stated by Reddit, this project, and all future projects released on the platform, are oriented to strengthen the community.
“In the future, we see blockchain as a way to bring more empowerment and independence to communities on Reddit. Reddit has always been a model for how decentralization can look online; our communities are self-built and driven, and as part of our mission to To better strengthen our communities, we are exploring tools to help them become even more self-sustaining and self-governing, “the company wrote.
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