Reddit Will Sell 'Collectible Avatars' (theverge.com) 32
Reddit said Thursday it is launching blockchain-powered "collectible avatars." From a blog post: About two years ago, we launched a new and improved Avatar Builder, allowing anyone to generate and customize their own personal avatar -- a unique way to display identity on Reddit. Shortly thereafter, we made countless accessories, outfits, and hairstyles available to allow for even more expression. We also brought redditors custom avatars in collaboration with partners like Netflix, Riot Games, and the Australian Football League (AFL). Seeing avatars take off got us thinking - what would happen if we gave artists on Reddit license to make any style of avatar they wanted? And what if we could help these artists showcase their art to the entire Reddit community and make it easy for them to earn money for their work? Our new Collectible Avatars storefront does just that.
In this series, Collectible Avatars are limited-edition avatars made by independent artists, in partnership with Reddit, and provide owners with unique benefits on the Reddit platform. If someone sets their Collectible Avatar as their avatar on Reddit, they can mix-and-match the avatar gear with other Reddit avatar gear and accessories, and their profile image in comments sections will have a glow-like effect. Collectible Avatars differ from other avatars on Reddit in a few ways: They are available for purchase (vs. being free or available via Reddit Premium), and artists will be paid for each Collectible Avatar sold. Collectible Avatars are backed by blockchain technology, giving purchasers rights (a license) to use the art -- on and off Reddit. You do not need cryptocurrency to purchase these avatars, nor are they being put up for auction. Each avatar has been priced at a fixed amount and is purchasable with fiat (government-issued) currencies.
In this series, Collectible Avatars are limited-edition avatars made by independent artists, in partnership with Reddit, and provide owners with unique benefits on the Reddit platform. If someone sets their Collectible Avatar as their avatar on Reddit, they can mix-and-match the avatar gear with other Reddit avatar gear and accessories, and their profile image in comments sections will have a glow-like effect. Collectible Avatars differ from other avatars on Reddit in a few ways: They are available for purchase (vs. being free or available via Reddit Premium), and artists will be paid for each Collectible Avatar sold. Collectible Avatars are backed by blockchain technology, giving purchasers rights (a license) to use the art -- on and off Reddit. You do not need cryptocurrency to purchase these avatars, nor are they being put up for auction. Each avatar has been priced at a fixed amount and is purchasable with fiat (government-issued) currencies.
I guess NFT are not cool anymore (Score:3)
Collectible Avatars are backed by blockchain technology
Two weeks ago the whole article would have been written with at least 72 mentions of "NFT", "blockchain" and things like that. Now there's barely a mention that they have implemented a blockchain algorithm. It seems that the excitement is finally over.
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you can still take money in exchange for nothing, just don't say the NFT swear word
It's OK as long as the buyer is aware they are getting nothing of value. The problem arises when the buyer thinks they are making an investment and the seller encourages this wrong assumption, or in some cases outright structures the operation as a classic Ponzi scheme.
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I think it's more normalizing the fact that "blockchain" has become the defacto way of providing "limited/rare/authentic" anything in the digital world.
It's kind of like advertising a "cellular" phone.
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Not at all. Its more the fact that the volume of NFT sales has fallen more than 90%. They were a flash in the pain and are now dying out completely. They aren't being advertised as NFT because that would make people even less likely to buy them, not more. Reddit wants to sell to the casual user of their website, and the average person doesn't want to buy NFTs or deal in cryptocurrency.
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Not at all. Its more the fact that the volume of NFT sales has fallen more than 90%. They were a flash in the pain and are now dying out completely.
A "blockchain-powered" collectible avatar tends to prove that nothing is really dying out, and consumer gullibility is up by over 300%.
They could sell a steaming pile of shit for a profit right now if kids thought it was a "limited edition" drop.
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Not since the whole crypto market has tanked. Let us all hope we can bury this nonsense in the past. I'll bet it comes back for a little while though
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a money grab by scammers using NFT but trying not to get the NFT stink on themselves.
Virtual collectibles are great... (Score:2)
And the first NFT will be (Score:3)
an avatar of the Fonz jumping a shark
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Or maybe the Ponz jumping a shark.
Collectable? (Score:2)
As for Netflix, Riot Games, and the Australian Football League, it will be interesting to see how they license the collectable avatar to avoid trademark dilution. I suspect the first time the avatar shows up in porn or for a caus
Re: Collectable? (Score:3)
The unique pictures are tracked via blockchain. It's a Non Fungible Token (NFT). Just because you buy it with real currency instead of crypto doesn't make it not an NFT. Purchase method isn't the defining charteristic of an NFT.
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The unique pictures are tracked via blockchain. It's a Non Fungible Token (NFT). Just because you buy it with real currency instead of crypto doesn't make it not an NFT. Purchase method isn't the defining charteristic of an NFT.
Quite right, but they need to call it a collectable so they didn't have the NFT/crypto stink, but rather a fertilizer that makes things grow.
easily copied (Score:2)
I honestly do not understand how/why easily copied digital pictures are collectible.
My kids play games that offer different 'skins' you can obtain/purchase. Every time they ask for another one I ask what happened to the last one. These skins are like fast fashion in the real world, they are cool for a couple weeks and then you want the next one while the old ones are left to rot/be unseen. They have a collection of this digital junk and it has no value beyond the initial thrill of obtaining it or the 5 mi
Re: easily copied (Score:2)
Cheap to produce, and capitalizes on basic human tendencies for hoarding and desire for exclusiveness. It's a lot like gambling in how it preys on fundamental psychology.
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"I honestly do not understand how/why easily copied digital pictures are collectible."
Because you have a digital code attached to it. It's really the digital code you own. There's a register somewhere that says you (with you being identified by another digital code, this one secret to anyone but you) own this code. It's the same technology that's used to run cryptocurrency.
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Oh yes, Certificates of Authenticity are super valuable. Just ask Franklin Mint.
https://www.ebay.com/itm/16553... [ebay.com]
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I simply described how it works. I didn't say it made sense.
Re: easily copied (Score:2)
You've correctly identified another example of a product cheap to produce with limited inherent value that is sold with a marketing strategy designed to take advantage of basic fundamentals of human psychology tied to artificial scarcity.
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Yeah, the joke's on him, the Bat'leth is totally worthless without the certificate of authenticity.
App was a failure, so... (Score:2)
I guess forcing the app down our throats isn't paying off, so the blind squirrel keeps jumping hoping to find a nut.
Countless (Score:3)
Really? Countless?. Aren't these accessories, outfits and hairstyles in a database? Can't you just execute "SELECT COUNT(*) FROM hairstyles"? Words mean things, and countless means not able to be counted, very UNLIKE what is actually the case here.
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They should have said that they were literally countless. /s
China owns Reddit (Score:1)
It amazes me how western countries allow enemy states to operate their propaganda machines inside their own borders.
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China owns Reddit
Citation needed. They're owned by the same group that owns Condé Nast, Wired, The New Yorker, and others. Far as anything I can see they're firmly based in the US.
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Googling, Tencent has recently invested $300 million, whereas Reddit was recently valued at $10 billion, and is majority owned by an American company.
Still trying to catch up (Score:2)
Gimmicks to add to the safe spaces (Score:2)
In short, I fucking hate Reddit, and their bullshit safe spaces and tightly controlled political narrative. This paid avatar nonsense would appeal to the sensitive safe-space kidult who frequent t