Reddit to release collectible avatars on the Polygon blockchain

Cryptocurrency-friendly social network Reddit has announced the release of a limited edition of avatars on the blockchainPolygon. Users will be able to purchase images "in the coming weeks."

According to the message, the cost of avatars is fixed - they are not put up for auction. You can only buy them with fiat.

Artists fromcommunities like r/Comics. Reddit noted that the goal of the initiative is to provide them with the opportunity to create and sell their work. The authors will receive funds minus fees, they will also receive royalties from secondary sales.

Data: Reddit.

“In the future, we see blockchain as one of theways to empower and empower Reddit communities. […] we are exploring tools to help them become even more self-sufficient and self-managed. Blockchain-based collectible avatars are one of the first steps we are taking to test the potential benefits of this concept.

The platform provided early access to images to a limited number of social network users.

In October 2021, Reddit opened a position for a back-end developer of its own non-fungible token platform.

Later, representatives of the social network announced the expansion of the loyalty program with Ethereum tokens. To scale the program, Reddit chose the L2 solution Arbitrum.

Recall that in December, the platform confidentially sent an application for an IPO to the US Securities and Exchange Commission.

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