Reddit has launched an NFT marketplace for one-of-a-kind collectible avatars

These rights, however, are not as extensive as those that come with owning an NFT from Yuga Labs’ Bored Ape Yacht Club collection, which provides the possessor the power to develop items and television series based on the bored ape they have purchased.

In addition, you can personalize your avatar’s appearance by combining additional pieces of clothing available in the avatar builder. In communities where you contribute, your avatar will also have a “glow-like effect” next to your remarks.

This isn’t Reddit’s first encounter with NFTs.

This is not the first time Reddit has had to deal with NFTs. At the beginning of the year, the company began testing technology that would allow users to use any Ethereum-based NFT as your profile picture. This came only a few weeks after Twitter launched a function that was very similar.

Reddit has also forged a cooperation with Polygon, an Ethereum-compatible blockchain, to mint these avatars on the blockchain. As previously stated, users can store and manage these NFTs using Reddit’s own blockchain wallet, Vault, which can be found in the company’s native app.

Finally, it’s worth noting that ongoing news and development, as well as a vibrant community on crypto communities platforms like Reddit’s Subreddits controlled by enthusiasts and specialists who have helped define the industry as it exists today, have contributed to the crypto space’s growth over the last ten years or so.