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Reddit to roll out NFT series on its own marketplace

Reddit will launch an NFT collection in the coming weeks.

By Finst News
• 3 min read
Reddit to roll out NFT series on its own marketplace

Reddit will roll out an NFT collection in the coming weeks. Users will be able to trade them with each other.

The social news giant announced this in a statement, but didn’t give a specific launch date yet. The collection comes from independent artists who, Reddit says, will be paid for each sold piece.

The price range for the NFTs is between $10 and $100. With the purchase, the owner gets the licensing rights and can use the artwork both on and off Reddit, for example as a profile picture. Additionally, the avatars are tradable.

According to Reddit, no cryptocurrencies are required for purchases. Prices are fixed and can be paid with fiat.

The technical backbone, however, does involve cryptocurrency; they’re working with the Polygon blockchain. Reddit had already experimented with NFT features in January. At that time, the platform published the "CryptoSnoos" collection on the Ethereum blockchain.

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