Reddit reveals new blockchain-based “Collectible Avatars”

Reddit has announced the new Collection Avatar system to support artists on the platform.
Reddit Collectible Avatars
Reddit has announced its new avatar system.

Reddit announced its new blockchain-supported avatar system with an announcement made the other day. Providing early access to some users registered in the r/CollectibleAvatars subreddit, Reddit aims to support the artists on its website with this move. You can find the full announcement of the company by clicking here.

According to information relayed by Reddit, these avatars will be stored on the Polygon network. In addition, the management of the avatars will take place through Reddit’s Vault wallet.

Reddit made the following comments about this move;

“From the start, our goal has been to empower artists to create and sell their work. Artists will get paid for every Collectible Avatar that sells on Reddit, less any fees, and are also entitled to receive royalties from secondary sales of their Collectible Avatars on open marketplaces.”

Members who will use these avatars on Reddit will gain some advantages. On the other hand, creators will receive a percentage of future sales.

Reddit also made specific statements explaining the company’s vision for this concept;

“In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit. 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.”

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