Reddit users with a lot of karma may be eligible for a free “Collectible Avatar” NFT minted on Polygon.
Social network Reddit has announced that it will launch a series of NFT avatars based on its mascot Snoo. In parallel with this sale of NFTs, Reddit will conduct an airdrop for the most avid users.
Airdrops will be awarded to those who earn a lot of karma points — a measure of how much they contribute to the Reddit community. NFTs are awarded on a per-user basis and are not limited to a single discussion group, according to the announcement.
Reddit’s NFT — called “Collectible Avatar” — is deployed on Polygon, a scaling solution for Ethereum. Over the past week, some users have been asked to choose “rewards” from four collections: aw Friends, Drip Squad, Meme Team, and The Singularity.
In addition to the airdrop, the social network also sells these collections on OpenSea, they range in price from $9.99 to $99.99/one. At the time of writing, an NFT from The Singularity collection is selling for more than $15 and the Drip Squad is over $42 per one NFT.
It is noteworthy that Reddit has so far avoided using the term “NFT” and only uses “Collectible Avatars”. NFT can be divisive with some and has drawn criticism for the environmental impact of certain networks (like Ethereum), as well as the risk of scams and rampant speculation.
For years, Reddit has been dabbling in the blockchain world in different ways. It launched a tokenized “Community Points” project in late 2019 and has since experimented with various scaling platforms to deliver tokenized rewards to a much bigger audience.
Arbitrum, an Ethereum scaling network from Offchain Labs, was finally chosen by Reddit, and the effort was launched on the mainnet this month via the new Arbitrum Nova chain tailored for social and gaming apps.
The tokenized Community Points may be utilized in other Web3 apps, and Reddit intends to roll them out to many more of its communities over time. Only two communities, r/CryptoCurrency, and r/FortNiteBR, currently offer the crypto reward tokens known as Moons and Bricks, respectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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NFTs News
Reddit Starts Airdrop Of NFT For Users
Reddit users with a lot of karma may be eligible for a free “Collectible Avatar” NFT minted on Polygon.
Social network Reddit has announced that it will launch a series of NFT avatars based on its mascot Snoo. In parallel with this sale of NFTs, Reddit will conduct an airdrop for the most avid users.
Airdrops will be awarded to those who earn a lot of karma points — a measure of how much they contribute to the Reddit community. NFTs are awarded on a per-user basis and are not limited to a single discussion group, according to the announcement.
Reddit’s NFT — called “Collectible Avatar” — is deployed on Polygon, a scaling solution for Ethereum. Over the past week, some users have been asked to choose “rewards” from four collections: aw Friends, Drip Squad, Meme Team, and The Singularity.
In addition to the airdrop, the social network also sells these collections on OpenSea, they range in price from $9.99 to $99.99/one. At the time of writing, an NFT from The Singularity collection is selling for more than $15 and the Drip Squad is over $42 per one NFT.
It is noteworthy that Reddit has so far avoided using the term “NFT” and only uses “Collectible Avatars”. NFT can be divisive with some and has drawn criticism for the environmental impact of certain networks (like Ethereum), as well as the risk of scams and rampant speculation.
For years, Reddit has been dabbling in the blockchain world in different ways. It launched a tokenized “Community Points” project in late 2019 and has since experimented with various scaling platforms to deliver tokenized rewards to a much bigger audience.
Arbitrum, an Ethereum scaling network from Offchain Labs, was finally chosen by Reddit, and the effort was launched on the mainnet this month via the new Arbitrum Nova chain tailored for social and gaming apps.
The tokenized Community Points may be utilized in other Web3 apps, and Reddit intends to roll them out to many more of its communities over time. Only two communities, r/CryptoCurrency, and r/FortNiteBR, currently offer the crypto reward tokens known as Moons and Bricks, respectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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