Reddit reveals blockchain-backed avatars for Polygon network

image of crypto punk profile picture

What

Social media platform Reddit has announced it will launch a collection of blockchain-based avatars. In a departure from NFTs, the images will not use cryptocurrencies but can be paid for using “government-issued” currencies

Why

Reddit explained that this was the continuation of its avatar customisation feature launched two years ago. By using blockchain technology, they say owners will have rights to their avatar on and off Reddit, adding that blockchain is a way to bring “empowerment and independence to communities on Reddit”

What next

Avatars will be up for sale in the coming weeks. Reddit has released a preview for some of the collection on the project’s subreddit 

The story

Reddit has avoided the term NFT with this project and instead called the collection “blockchain-backed collectable avatars”. They have also avoided the term wallet and instead elected for “vault”. This shift in terminology could be an attempt to avoid the backlash seen in the gaming industry for NFTs.

The avatars will be hosted on the Polygon network — a sidechain to Ethereum — which Reddit says will is due to their lower fees and sustainability practices.

Did you find this useful?
3
0