Polygon ($MATIC) Co-Founder: Reddit NFTs Are ‘A Huge Win for the Whole Web3’

Polygon ($MATIC) Co-Founder: Reddit NFTs Are ‘A Huge Win for the Whole Web3’

Polygon Technology co-founder Mihailo Bjelic recently commented on the massive success of Reddit’s collectible avatars, which are NFTs powered by Polygon. Reddit about a new store: “In this series, the collectible avatars are limited edition avatars made by independent artists in collaboration with Reddit, offering owners unique benefits on the Reddit platform. Suppose someone posts their avatar collectible as their avatar on Reddit. In that case, they can combine the avatar gear with other Reddit avatar gear and accessories, and their profile picture in the comment sections will have a glow effect… They are available for purchase (rather than for free or through Reddit Premium), and artists get paid for every collectible avatar sold.

“Collectible avatars are powered by blockchain technology, giving buyers rights (a license) to use the art on and off Reddit. You don’t need any cryptocurrency to buy these avatars, nor will they be auctioned off. Each avatar has a fixed price and can be purchased with fiat currency (government-issued) … Collector avatars are currently stored on Polygon, a general-purpose Ethereum-compatible blockchain. We selected Polygon for its low-cost transactions and commitment to sustainability.

Share to Social Media

Recent Articles

Join Our Newsletter