According to recent reports, Reddit has its own collection of NFT’S which are up for sale. Read the entire article to learn more about this news piece.
About Reddit Collectible Avatars
So basically Reddit has launched a collection of avatars which are basically NFT’s which can be purchased by any and everyone. The avatars have been drawn by community artists. The best part about these NFTs is that having an engineering degree is not a requirement to buy them. Many blockchains have this as an important criterion but not Reddit. Reddit NFTs are extremely precious as when you purchase them, they are owned entirely by you. They cannot be stolen or copied. It is up to you as to how you want to use it.
If you’re someone who doesn’t know anything about NFTs, then this article is here to help you. NFT in layman’s language is basically anything which is digital. It can be literally anything like drawings, music, etc. NFT stands for Non-Fungible Token. The word Non-Fungible here means that once you purchase an NFT, it is entirely yours. No one can copy it or steal it. It is yours and you have to right to do whatever you want to, with it. These days, even tweets are becoming NFTs. Various reports suggest that the owner of Twitter sold one of the tweets for approximately $3 million.
If the term cryptocurrency often confuses you, then keep in mind that it is nothing but a digital currency. In cryptocurrency, you don’t need the help of a bank to help you with managing your money. NFT are a type of cryptocurrency. Although this term has the word currency in it, it is not considered to be a currency rather it is looked upon as security or some kind of investment.
Reddit is basically a platform that gives you a chance to be a part of communities and improves your socializing and networking skills. Whatever your passions or interest, you will be able to find your tribe on this particular app. People share information and opinions on this platform by posting, commenting, and voting. You can express yourself by posting a story, videos, and images on the platform. People are allowed to comment on your posts after which they can give you an upside or downside vote. This vote determines whether your post has the ability to become popular or not.