Reddit set to launch blockchain-based storefront for collectable avatars

Reddit, a popular social media website and forum, will launch a collectible avatar storefront in the coming weeks.

Source: Reddit Blog

Known for its networking capabilities and community aspect, the website has partnered with independent artists to design the collectible avatars, with proceeds going to the creators. If the character is the user’s Reddit avatar, holders will be able to customize its gear and accessories, adding a sense of depth and uniqueness. Avatar PFP will also have a ‘glow-like effect’ in the comment sections of subreddits and forums, allowing purchasers to stand out. 

Besides the glow effect, collectible avatars will differ from traditional and premium avatars in a few ways. Collectible avatars will be available for purchase in the ‘Reddit Avatar Builder storefront, allowing members of the Reddit community to support each other through proceeds. The avatars will also be stored on the Polygon network, an Ethereum-compatible blockchain. The step was taken to provide buyers with complete ownership over their avatars, allowing for cross-platform capabilities. The implementation of blockchain technology also allows artists to profit off of future sales, meaning their artwork can ‘live beyond the virtual walls of Reddit’. 

“In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit,” stated Reddit in a blog post. “Reddit has always been a model for what decentralization could look like online; our communities are self-built and run, and as part of our mission to better empower our communities, we are exploring tools to help them be even more self-sustaining and self-governed.” Using local fiat currencies, users will be able to purchase a Collective Avatar and store it in their Vault, a blockchain-powered wallet that will be used to store community points as well. 

Reddit is a platform that thrives on community independence. By introducing blockchain technology, they are staying in line with what made the platform so popular, self-governance. Reddit hopes that blockchain will provide users with full control over their purchases and art, allowing them not to be restricted to Reddit itself but rather to a multitude of platforms.

 

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