NFTs have become extremely popular in recent years. Retail investors, celebrities, and businesses have all enthusiastically embraced these digital assets. The fact that NFT sales have surpassed $42 billion this year demonstrates this. That’s a significant sum, given that the same figure for the entire year of 2021 was $40 billion, according to Chainalysis statistics.
More and more artists and organizations are releasing NFT collections in order to get a piece of the pie. Reddit, the news aggregation and community forum powerhouse, was one of the most recent to join in on the fun.
On July 7, the social networking platform announced the release of its Polygon-based collectible avatars via a corporate blog. What’s more, Reddit revealed a few days ago that it would be airdropping these digital goods to select users for free. So come with us as we learn more about Reddit’s collectible avatars and how to get one for free.
What exactly are Reddit collectible avatars?
The term “non-fungible token” was notably absent from Reddit’s corporate launch announcement, instead presenting the artworks as “limited-edition avatars developed by independent artists in collaboration with Reddit.”
Make no mistake, these avatars are nothing more than NFTs in their most basic form.
Mainstream NFTs can be seen in movies, TV shows, and video games. Reddit avatars, on the other hand, lack all of these characteristics. These digital artworks, on the other hand, are mostly utilised as profile images on Reddit and other platforms.
These avatars can be customised, but only with costumes and gear from Reddit Avatar Builder. Another notable feature is that these avatars can only be purchased with fiat currency and at a predetermined price ranging from $9.99 to $99.99. These NFTs provide a mechanism for artists in the Reddit community to share and earn from their work.
The social networking site keeps only 5% of the sales money, with the remainder going to maintain the entire creator programme as well as cover minting costs and blockchain fees. Secondary sales will also benefit artists by ensuring that their work continues to generate cash after the initial sale.
In an intriguing move, Reddit has also began free airdropping of some of these avatars to select community members!