July 8, 2022
The Reddit platform's Avatar Builder, which allows its followers to generate and customize their avatar on Reddit, has announced its new storefront, Collectible Avatars.
Collectible Avatars are limited-edition avatars made by independent artists in partnership with Reddit and provide owners with unique benefits on the Reddit platform. If someone sets their Collectible Avatar as their avatar on Reddit, they can mix and match the avatar gear with other Reddit avatar gear and accessories. Their profile image in the comments sections will have a glow-like effect.
Currently, blockchain technology provides purchasers with ownership and portability of their Collectible Avatar. It allows artists to have their work live beyond Reddit and be compensated for future sales of their art.
Collectible Avatars are currently stored on Polygon, a general-purpose, Ethereum-compatible blockchain.
Collectible Avatars will be available to all users in the coming weeks, but Reddit is allowing first-look early access to a limited number of Redditors who join the r/CollectibleAvatars community, where followers can learn how to purchase Collectible Avatars, set up wallets to store them and get to know our artists with behind-the-scenes posts, AMAs and more.
People can purchase Collectible Avatars, where they usually build avatars on Reddit, using local currencies. The avatar on Reddit once the purchase is complete.
To store and manage Collectible Avatars, Redditors will use their Vault – a blockchain-powered wallet on Reddit. A Vault gives users a specific digital wallet address that works across Ethereum-compatible blockchains; it's the same Vault where Redditors currently store Community Points.
Artists will get paid for every Collectible Avatar that sells on Reddit, less any fees, and are entitled to receive royalties from secondary sales of their Collectible Avatars on open marketplaces.
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