Today, Reddit is opening a new NFT-based avatar marketplace where you can buy blockchain-based profile pictures for a set price. The company said that you don’t need a crypto wallet to buy them, so your credit or debit card should be enough. To store them, you can use Reddit’s own wallet product.
The social network said it is putting out 90 designs and that “tens of thousands” of NFTs will be for sale in this early-access phase.
The company said that if you buy one of its limited-edition NFTs, you will be able to use it as an avatar on and off of Reddit. These rights aren’t as broad as owning an NFT from Yuga Labs’ Bored Ape Yacht Club collection, which lets you make merchandise or TV shows based on the bored ape you own. Also, you can change how your avatar looks by mixing and matching items from the avatar builder. Your avatar will have a “glow-like effect” next to your comments in communities.
This is not the first time Reddit has used NFTs. This year, the company started testing a feature that would let you use any Ethereum-based NFT as your profile picture, just a few weeks after Twitter did the same thing. Reddit made CryptoSnoos, which were limited-edition NFTs based on its mascot Snoo, and sold them last year.
Reddit has teamed up with Polygon, a blockchain that works with Ethereum, to put these avatars on-chain. You can store and manage these NFTs with Reddit’s Vault blockchain wallet, which is available on the company’s native app. At the moment, you can use Vault to earn community points based on the blockchain and spend them on things like badges and animated emoji.
Members of the invite-only r/CollectibleAvatars subreddit will be able to take a first look at NFT avatars today. The community will have information about how to set up a wallet, exclusive AMAs with artists, and posts about how the one-time profile pictures were made. Since there are no auctions, all NFTs have a fixed price and can be bought with fiat currencies like U.S. dollars. These NFT avatars can be bought for $9.99, $24.99, $49.99, $74.99, or $99.99. If you are not part of that community, the company said that everyone will be able to buy these collectible avatars on its avatar builder page in the next few weeks.