{"id":471716,"date":"2022-07-08T02:47:21","date_gmt":"2022-07-07T23:47:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/reddit-announces-new-blockchain-backed-collectible-avatars\/"},"modified":"2022-07-08T02:47:21","modified_gmt":"2022-07-07T23:47:21","slug":"reddit-announces-new-blockchain-backed-collectible-avatars","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/reddit-announces-new-blockchain-backed-collectible-avatars\/","title":{"rendered":"# Reddit announces new blockchain-backed \u2018Collectible Avatars\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d2c266b687\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d2c266b687\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/reddit-announces-new-blockchain-backed-collectible-avatars\/#%E2%80%9D_Reddit_announces_new_blockchain-backed_%E2%80%98Collectible_Avatars_%E2%80%9C\" >&#8221; Reddit announces new blockchain-backed \u2018Collectible Avatars\u2019 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Reddit_announces_new_blockchain-backed_%E2%80%98Collectible_Avatars_%E2%80%9C\"><\/span>&#8221; Reddit announces new blockchain-backed \u2018Collectible Avatars\u2019 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMGE1YzY2YTYtOWMzYi00OWNmLWIxZGQtMjhiMTQwMzIyMjg4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Content aggregation, ranking, and discussion website <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.redditinc.com\/blog\/blockchain-backed-collectible-avatars-coming-to-reddit-via-new-storefront\"> announced<\/a> a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public in the next few weeks. For now, Reddit is providing first-look early access to a limited number of people who join the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reddit.com\/r\/CollectibleAvatars\">r\/CollectibleAvatars<\/a> community.<\/p>\n<p>Collectible Avatars are a set of limited-edition artwork created by independent artists who are also users of the Reddit website. The new avatars can be purchased with local currencies, however the announcement stated the artwork is stored on the Polygon (MATIC) blockchain. In addition, management of the Collectible Avatars is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reddit.com\/vault\/\">handled through Vault<\/a>, Reddit\u2019s blockchain-powered wallet that functions on Ethereum-compatible chains.<\/p>\n<p><em><strong>Related: ANALYSIS How the Metaverse can revolutionize the fashion industry<\/strong><\/em><\/p>\n<p>This latest move by Reddit aims to empower artists that use the website, as stated in Thursday\u2019s announcement on their website:<\/p>\n<blockquote><p>\u201cFrom 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.\u201d<\/p><\/blockquote>\n<p>The new collection will be available where Reddit users normally build their avatars on the website. Once a Collectible Avatar has been purchased, it can be used as an avatar on Reddit. Owners of the Collectible Avatars will be eligible to receive unique benefits and Collectible Avatar creators will receive a percentage of future secondary sales. <\/p>\n<p>From Thursday\u2019s announcement, \u201cCollectible Avatars are currently stored on Polygon, a general-purpose, Ethereum-compatible blockchain. We chose Polygon for its low cost transactions and sustainability commitments.\u201d<\/p>\n<p>Reddit said that the avatars aren\u2019t proper NFTs, and cryptocurrencies aren\u2019t part of the process of buying or selling them for now, but indicated that, \u201cBlockchain-backed Collectible Avatars are one of the early steps we\u2019re taking to test out the potential benefits of this concept on Reddit.\u201d<\/p>\n<p>Reddit also mentioned future visions the company in regards to the concept\u2019s related features:<\/p>\n<blockquote><p>\u201cIn 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.\u201d<\/p><\/blockquote>\n<p>This isn\u2019t Reddit\u2019s first foray into NFTs, the company<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nft.reddit.com\/\"> released CryptoSnoos<\/a> back in February of this year.<\/p>\n<p>Amidst the crypto crash of 2022, some companies are choosing to build. Other recent NFT developments include a new D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>Radar report showing that there could be NFT platform wars ahead, and\u00a0the Lamborghini-backed GT racing team&#8217;s decision to authenticate car parts using NFTs. While art-based tokens have been very popular over the last few years, some have started looking at expiring copyrights as the next potential NFT gold rush.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/reddit-announces-new-blockchain-backed-collectible-avatars\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Reddit announces new blockchain-backed \u2018Collectible Avatars\u2019 &#8220; Content aggregation, ranking, and discussion website Reddit announced a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the general public in the next few weeks. For now, Reddit is providing first-look early access&#8230;<\/p>\n","protected":false},"author":1,"featured_media":471717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMGE1YzY2YTYtOWMzYi00OWNmLWIxZGQtMjhiMTQwMzIyMjg4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,77892,74891,95118,113408,74355,5005],"class_list":["post-471716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-crypto-collectibles","tag-ethereum","tag-nft","tag-polygon","tag-adoption","tag-reddit"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=471716"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/471717"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=471716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=471716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=471716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}