Reddit to Launch NFT Avatars Built on Polygon

Reddit's Polygon-based NFTs are just the latest crypto move from one of the Internet’s largest social platforms.

In the coming weeks, Reddit will be launching a new Collectibles Avatar marketplace leveraging non-fungible tokens (NFTs) hosted on Polygon’s blockchain.

Home to countless forums and online communities, the website will partner with independent artists to create unique avatars that Reddit users can buy for a fixed price and customize with gear, yielding creators a slice of the sales.

Aside from a flex, the purchase of these avatars gives owners a license to use the artwork on and off of Reddit.

The marketplace is built around Polygon’s blockchain due to its low-cost transactions and sustainability commitments, according to the company’s press release.

Profiles with Collectable Avatars set as their profile image will also have a “glow-like effect” in the comment section, according to the press release

However, Collectable Avatars will only be available for purchase using local currencies, such as U.S. dollars. There isn’t a crypto option at current, nor can they be auctioned off either on a secondary market like OpenSea.

Alongside the Polygon marketplace, Reddit will also launch an Ethereum-compatible wallet called a Vault.

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