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View submission: The NewToReddit Encyclopaedia Redditica v2
In July 2022, Reddit announced[1] the launch of Collectible Avatars - limited-edition avatars made by independent artists, in partnership with Reddit[2]. This was not Reddit’s first foray into the world of NFTs[3].
2: https://www.reddit.com/r/reddit/comments/vtkmni/introducing_collectible_avatars/
3: https://influencermarketinghub.com/reddit-nft/
Collectible Avatars have to be purchased with “real money” - not Reddit currency or any type of cryptocurrency. As they are a form of NFT, you will receive instructions on how to set up your wallet to store them. The Shop[4] option under Profile --> Style Avatar will display the options currently available, along with the costs. There is more information about the Shop here[5] and at the links on the left-hand side and at the bottom of that page.
4: https://i.redd.it/aiz3mivi5rd91.png
5: https://reddithelp.com/hc/en-us/articles/6213835889044
Also in August 2022, many Redditors were offered one of a small selection for free[6] with a predictably mixed response[7]. An interview with the Reddit CEO shortly after shed some light on the way forward for Reddit[8] with NFTs, despite negative coverage elsewhere[9].
8: https://www.platformer.news/p/why-reddit-is-still-betting-on-the?triedSigningIn=true
9: https://www.inputmag.com/culture/reddit-digital-collectible-avatar-experiment-nft-fatigue
You can see the "original" few avatar NFTs on https://nft.reddit.com/[10], along with their subsequent sale price (you’ll need to run an ether to dollar conversion). Obviously, NFT rarity and the market drives the value[11] of purchases over time and remember that absolutely nothing is guaranteed.
11: https://mashable.com/article/-reddit-sells-nft-cryptosnoos
I would advise that before giving any money to Reddit, please familiarise yourself with this page[12] and its related links, along with the Previews Terms of Use[13] with special attention to section 1.3 Verified Virtual Goods (a) Collectible Avatars. You might also like to see the interpretation of that by one Redditor here[14].
13: https://www.redditinc.com/policies/previews-terms
14: https://www.reddit.com/r/reddit/comments/vtkmni/comment/if97i0p/
Please also note that some subreddits[15] are taking a stand against NFT avatars[16] and while that might seem arbitrary, don’t forget that mods reserve the right to restrict users that contravene their general subreddit principles. As always, do please read the rules[17] *before* contributing to any sub that is new to you.
15: https://www.reddit.com/r/ShadowBan/comments/w4z21h/new_rule_no_one_with_an_official_reddit_nft/
16: https://www.reddit.com/r/196/comments/vxrawt/anyone_with_one_of_those_dumbass_nft_reddit/
17: https://www.reddit.com/r/LearnToReddit/comments/pjsazs/finding_a_subreddits_rules/
Another warning: within days of the launch, I know of one Redditor who bought a collectible avatar but was mocked unmercifully and downvoted to oblivion in a meme/shitposting sub before being banned from it, with the only reason given for the ban being the two words: “NFT Avatar”. As their report to admin came back saying it didn’t violate any policy, make of that what you will.
The official subreddit r/CollectibleAvatars was created for Redditors to learn more about how to purchase and set up wallets to store the NFTs, and promised to get to know the artists with behind-the-scenes posts, AMAs, and more. r/avatartrading is the place to discuss all things about selling the Collectible Avatars. Recipients of the free NFTs from August 2022 can show them off at r/awwfriends or r/MemeTeamNFT. At the time of writing, I can’t find a subreddit for The Singularity or Drip Squad fans.
18: https://www.reddit.com/r/NewToReddit/comments/qbb173/comment/hhhix7s/
19: https://www.reddit.com/r/NewToReddit/comments/qbb173/comment/hhu0qdk/
20: https://www.reddit.com/r/NewToReddit/comments/qbb173/comment/hhu0szi/
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