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The collectibles are currently listed on the non-fungible tokens (NFT) marketplace OpenSea.
Reddit has started an airdrop of its Polygon-based “Collectible Avatars” as the first step in a larger campaign to include blockchain technology. The social media network, in the past week, asked some of its users to choose avatars from four collections, which are “The Singularity,” “Aww Friends,” “Drip Squad,” and “Meme Team,” based on their participation on the website. The collectibles were subsequently created as and when a user selected an item from one of the collections.
The collectibles are currently listed on the non-fungible tokens (NFT) marketplace OpenSea, with the Singularity collection selling for slightly above $15 while Drip Squad artifacts are currently going for more than $42.
Prices for a different collection made by chosen artists range from $9.99 to $99.99 and have already gone live on Reddit. Following a purchase, customers can use these avatars on Reddit or other websites as the entire ownership rights are transferable.
The avatars can also be stored and managed on Reddit’s blockchain wallet, Vault, which currently offers its users blockchain-based community points, which can be used to purchase in-app items like badges.
Reddit announced on July 7 that it was dipping its toe into the digital collectible trend. The social media giant announced that it was creating a new wave of NFTs with collectible avatars, one of its first experiments with blockchain-based technology.
The site added that the avatars would be designed by artists, many of whom are users of the social media platform, and would be for sale in a new storefront.
Reddit revealed that the avatars were only going to be available to a select set of Reddit users who joined the r/collectibleavatars subreddit, before adding that it was planning to make the store available to all users “in the coming weeks.”
The firm, back then, refused to use the word NFTs to describe these avatars and, once again, refused to do so, in a communication to its users. Reddit, however, has previously stated that blockchain technology is a vital part of its long-term plans.
“We see blockchain as one way to bring more empowerment and independence to communities on Reddit,” it said.
Earlier this year, the social media network started testing a feature that allowed users to set any NFT built on the Ethereum blockchain as their profile picture. In 2021, the firm released limited-edition NFTs called CryptoSnoos, which were named after its mascot, “Snoo.”
Reddit now joins Facebook, Instagram, and Twitter as social media platforms to experiment with bringing digital collectibles to its users. Earlier this year, Twitter introduced NFT profile photos to its users while Meta has begun to test NFT support on Facebook and Instagram.