The social news aggregation, and content discussion website, “Reddit” starts to Airdrop the polygon-based Collectible Avatars. The four collection’s avatars are available for trading and listing on the platform of Open sea.
Social news aggregation site, Reddit, has started airdropping its previously announced “collectible avatars” to users on the platform.
“Collectible Avatars” are minted on Polygon, a scaling network for Ethereum that enables faster, cheaper, and even more energy-efficient transactions than Ethereum’s own manner. Reddit offers free avatars in four styles: Meme team, aww friends, Drip Squad, and The Singularity.
What is Reddit?
Reddit is a website with lots of content where users who have registered themselves, submit the content for the site such as videos, images, posts, texts, and even links at times(a completely user-generated content platform).
Nobody can ever imagine how Reddit became “The Reddit” it is today. The story started in a college hostel room of Steve Huffman and Alexis Ohanian, and from there they just kept on growing and never looked back.
Reddit’s Own Collectible
Except for the free Airdrop, this platform also sells its own avatars.
Around the month of January, the platform of “Reddit” tried to experiment with some of the features of the website and it allowed the users to use any NFT as their Avatar and be the sole owner of it. During the month of June, Reddit was successful in launching its first NFT collection, CryptoSnoos- the website’s very own digital collection.
A total of just 4 NFTs were released in this collection, and the selling price for each of the NFTs was $398,000, and they were up for auction. The crypto price is over 17.5ETH.
A few points to be noted in this episode are as follows
- These avatars have the ability to be stored on the blockchain wallet, Vault, of the platform Reddit
- Based on the participation of the users on this very website, they were asked to select their Avatars.
- These avatars can not only be used on Reddit, but also on other platforms.
What is CryptoCurrency?
Now let us try and understand how cryptocurrency work and what is it exactly. In layman’s language, we can say that cryptocurrency is nothing but a way to make payments digitally without any dependency on banks. Through this platform, anyone can send any amount to anyone without the interference of a third party, direct peer-to-peer transfers.
It carries a database that is one hundred percent online and removes the need to carry the cash in hand.
Famous Cryptocurrencies
Some of the examples of very popular cryptocurrencies are as follows-
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Ripple (XRP)
- Shibu Inu (SHIB)
- Bitcoin Cash (BCH)
- Binance Coin (BNB)
- ApeCoin (APE)
- Salona (SOL)
- Cardano (ADA)
Conclusion
Investing in cryptocurrencies can be a little risky if you are not well versed with the information and are less on knowledge. So make sure that whenever you plan on investing, you are well researched about the history and the graphs of the currency.
You should know the benefits of investing and the technical requirements. Read more about it on several websites, conclude graphs, watch videos, and study as much as you can before investing. If you think you are an individual who cannot deal with unstable ups and downs, you should avoid investing in cryptocurrency as the market is highly volatile.
