Reddit announced a new feature on its website called 'Collectible Avatars.' These will be NFT-tied digital images that users can choose to use as their profile pictures or their 'Avatars.' The Avatars are accessible through Reddit's 'Avatar Builder' function which allows users to create, customize, and export Reddit Avatars.
The news-focused social media site stated that the purpose of the Collectible Avatars feature is to empower digital artists both on and off of the platform. This means Reddit will work with popular artists on subreddits such as r/Art and r/Comics, as well as working with popular off-site artists in an effort to bring them into the Reddit ecosystem while providing a monetary incentive.
The Collectible Avatars NFTs will only be available for a limited time and are only available in limited quantities. Each Avatar will be uniquely numbered so that each owner can be certain of the collectible they possess.
Artist-Empowering Digital Collectibles
Reddit Announced a Set of Collectible Avatars Tied to NFTs
Trend Themes
1. Nft-enabled Avatars - Digital collectible NFT-tied avatars become popular empowering tools for digital artists and create new channels to monetize creative content.
2. Crowdsourced Art Platforms - Crowdsourcing platforms will emerge to increasingly integrate digital artists and their creative offerings into community-oriented ecosystems.
3. Limited-edition Digital Collectibles - Limited-edition digital collectibles will gain both popularity and value, providing new opportunities for digital creators and their audiences to earn and own highly sought-after pieces.
Industry Implications
1. Digital Art - Digital art will expand as a market and will provide more opportunities for artists to create and sell digital items, including NFT-tied collectibles that can be sold on various platforms.
2. Social Media - Social media platforms will evolve to help digital creators monetize their work and their presence, including offering new ways to leverage NFT-tied assets and providing virtual marketplaces for artists to sell their work.
3. Virtual Goods Marketplace - In the broader digital sphere, NFTs and artistic collectibles will fuel new marketplaces, creating a more diverse range of offerings that people can buy, sell, or trade in various blockchain-enabled online marketplaces.