Reddit Is Airdropping Free Polygon NFT Avatars to Its Top Builders and Users
Reddit, a popular platform for online discussion, is putting more emphasis on blockchain technology and recently announced that it will introduce a line of NFT avatars on Polygon based on its Snoo character. Reddit is now giving some of the tokenized avatars for free to its most devoted users and builders.
A Reddit moderator recently announced that the platform will airdrop free NFT avatars to users who have accumulated a significant number of karma points—a score that indicates their contributions to Reddit communities. According to the article, the NFTs will be given out on a user-by-user basis and are not limited to certain discussion communities.
Reddit's NFTs, known as "Collectible Avatars," are minted on Polygon, an Ethereum scaling network that enables transactions that are less expensive, quicker, and more energy-efficient than those made possible by Ethereum's mainnet. Aww Friends, Drip Squad, Meme Team, and The Singularity are the four free avatar designs available on Reddit.
Reddit also offers NFT avatars for sale on its own platform in addition to the free airdrop. Depending on the option, they are priced from $9.99 to $99.99 each.
Interestingly, Reddit has abstained from utilizing the phrase "NFT" in connection with the Collectible Avatars initiative thus far, reflecting similar strategies used by companies like Coca-Cola and the esports team 100 Thieves. NFTs can be controversial among some audiences and have come under fire for wild speculation, fraud, and the negative environmental effects of some networks (like Ethereum).
Prior to this, Reddit had released a small number of Ethereum-based CryptoSnoos NFTs, and they had advertised them under the NFT term. In June 2021, just four NFTs in total were released in the project, with one selling for 175 ETH at auction, or more than $398,000 at the time. Later, in February, that NFT was resold for just 42 ETH or around $117,000 at the time.
During the past years, Reddit has used alternative approaches to study the blockchain industry. Since launching a tokenized "Community Points" program in late 2019, it has experimented with a number of scaling platforms that could make tokenized incentives available to a much wider audience.
Reddit ultimately settled on Arbitrum, an Ethereum scaling network from Offchain Labs, and last month launched the project on the mainnet using the new Arbitrum Nova chain created for social and gaming apps.
The tokenized Community Points may be utilized in other Web3 applications, and Reddit intends to roll them out to many more of its communities in the future. Currently, just two communities—r/CryptoCurrency and r/FortNiteBR—offer the crypto reward tokens, which are referred to as Moons and Bricks, respectively.