Non-fungible tokens (NFTs) upon their widespread adoption have served as a form of incentive organizations give to their users. Reddit is one organization that bought into the trend, in this article, we will explain what Reddit NFTs are and how you can claim one for free.
Non-fungible tokens, also known as NFTs, are distinctive digital assets that link ownership to digital or physical assets including artwork, real estate, computer programs, photographs, music, and movies. NFTs (non-fungible tokens) don’t necessarily originate in the areas you may assume.
In the past few years, NFTs have become extremely popular. Retail investors, famous people, and companies have all embraced these digital assets. according to data from Chainalysis, NFT sales have surpassed $42 billion this year serves as opposed to the entirety of 2021 which was $40 billion.
In an effort to get a piece of the action, an increasing number of artists and organizations have started to release their own NFT collections. Reddit, news aggregation and community site, was one of the most recent to join the fray.
What is Reddit?
Reddit is a news aggregation website in addition to being a forum where users may make communities and topics about almost any topic. More than 430 million people use the social networking site Reddit on a monthly basis which enables users to debate, vote, and exchange information.
As a result, any significant news is posted to Reddit for discussion among users. Reddit accepts a variety of information formats, including text submissions, photos, audio recordings, videos, and external links.
Redditors is a term used frequently to refer to Reddit users. A Reddit user can set up a subreddit if they desire a place to have more focused discussions. The website, which went live in 2005, is arguably the most well-known forum online.
How Reddit works
When a user joins Reddit for the first time, they create a profile and username that serves as their online identity. Redditors who are interested in the subject of discussion can join the subreddit after a dedicated subreddit is created.
There are thousands of subreddits that discuss things like television series, movies, politics, stock trading, video games, and cryptocurrencies.
Redditors are more interested in a post when it is shared on a subreddit. The voting system previously indicated gives Redditors the chance to choose which topic becomes popular. Any unfavorable or uninteresting post will be downvoted or ignored, ensuring that it doesn’t spread.
Features of Reddit
Reddit is popular among users due to a few features. These features are
- Reddit karma
- Reddit Coins
- Reddit awards
- Reddit Community Points
- Reddit Avatars
Reddit Karma
The score that each Redditor obtains for their actions on the Reddit site is known as Reddit karma. A Reddit user can gain comment or post karma by commenting or posting in a subreddit.
Based on the number of upvotes and downvotes a Redditor has received for their comments or posts, the Reddit platform determines how much karma that user will receive.
You must share information or leave comments on posts on a regular basis if you want to gain karma. Asking questions is a simple method to encourage other users to respond to your comments. Your karma should rise if any of your posts or comments are upvoted.
Reddit karma doesn’t have a monetary value, but if it hits a certain threshold, you can start receiving advantages. For instance, some communities need Redditors to have a certain amount of karma before they may join or post in the community.
Reddit Coins
Redditors can use Reddit Coins, formerly known as Credits, as a form of virtual cash to buy certain rewards. These coins can be obtained through gameplay or bought in bundles. For $1.99, 500 coins are available for purchase. 82,000 coins are available for purchase for $199.99.
Reddit Awards
Based on comments or posts that are at the top of discussion threads, Redditors have the option of awarding other users. There are now four different Reddit awards that can be given out:
Community awards: Moderators can modify community awards, which are used to pay for the development of more special incentives for usage only in particular communities.
Reaction awards: these show how a user felt about a comment or post. For instance, if an upvote is insufficient, a “Rocket Like” award may be issued. Redditors can express themselves in other ways while responding to content by using reaction awards.
Medals: These are frequently given to comments or postings that are deemed to be particularly inspirational or motivating. medal types that can be given out include Gold, Platinum, Argentium, Silver, and TernioAll-Powerful. Silver medals are the least expensive of the medals that may be given out, while Ternion All-Powerful medals are the most pricey.
Premium awards: All Reddit Premium members are only eligible for premium prizes.
Reddit Community Points
Cryptocurrency awards known as Reddit Community Points are made possible by the Ethereum blockchain. These points are meant to provide Reddit users the chance to own a piece of the platform they utilize.
According to the contribution a user has made to a certain subreddit, points are given out. Beta testing for this program is now underway.
The total number of karma points can be used as a criterion by community members to determine who should receive points when deciding how to distribute them around the larger community.
Reddit also intends to support digital transactions that convert currency into rewards through the Community Points program. A cryptocurrency wallet called Reddit Vault must be used in order to send or store Reddit Community Points. Reddit User Icons
Reddit Avatars
Users on Reddit have access to a broad variety of collectible avatars that they can match with their accounts and online personas. Independent artists created these avatars, which can include almost any kind of artwork.
When displayed in a comment section, the avatars can be utilized as a kind of profile image and are displayed with a glowing effect. Avatar collectibles are enabled by blockchain technology and are only available for a brief period of time. These collectible avatars are often priced between $10 and $100 by the artists who make them.
What Is a Reddit NFT?
A Reddit NFT is a type of avatar that can be purchased on the Reddit avatar marketplace. Reddit is one platform that has demonstrated a desire to give its community simple access to NFTs.
The fact that Reddit accepted cryptocurrencies as a substitute payment mechanism for in-app purchases back in 2013 shows how strongly it has backed the cryptocurrency sector. For a time now, Reddit has been experimenting with blockchain technology. In June 2021, it issued a small batch of 4 CryptoSnoos NFTs.
Redditors can purchase blockchain-based photos from this Reddit avatar marketplace for a predetermined sum of money. Over 90 designs were produced by Reddit in collaboration with other independent artists and distributed to coincide with the marketplace’s opening.
Purchasing one of these avatars enables you to change its appearance using various items available in the avatar builder. Users who purchase a limited edition NFT on Reddit receive license rights to the token, allowing them to use the avatar both on and off the platform.
You can use a cryptocurrency wallet, credit card, debit card, Reddit’s Vault, or any of these payment methods to buy an NFT-based avatar. Additionally, as was already established, these avatars have a glowing appearance when you comment on a Reddit article.
Free Reddit NFTs
Reddit is now sending airdrop batches to prominent Reddit users in order to give away free Reddit NFT avatars. It is presumed that these Reddit NFTs are only intended to be delivered to top Redditors who have amassed high karma points through the Reddit karma program, even if the requirements to qualify for the airdrop are not explicitly stated.
It’s rather simple to claim a free Reddit NFT, but you can only do so if you’re already a popular Redditor and have a lot of Karma points. According to estimates, a user needs 2,500 or more Karma points to qualify for a free Reddit NFT.
How to claim a free NFT on Reddit
- Visit the home page of Reddit using only desktop computers
- Login to Reddit
- Scroll down a bit and if you are qualified you will see a banner
- Click on the link, and you will be able to choose a few themes. Following this, you can mix and match and style your avatar.
If you satisfy the requirements but are unable to see this banner, don’t worry too much. However, as the airdrop is taking place in batches, it is anticipated that every top Redditor will eventually get their shot. Some Redditors have also reported that they have not yet seen theirs.
Free Reddit NFTs collection
There are four collections of free Reddit NFTs users can claim:
- The Singularity
- Aww Friends
- Drip Squad
- Meme Team
The Singularity
When claiming their free Reddit NFTs, users can choose from a variety of styles, one of which is The Singularity. It is renowned for its futuristic and robotic features. One of these Reddit NFTs can be purchased for as little as 0.02 ETH.
Aww Friends
Aww Friends is a collection of Reddit NFTs created by independent artists to show off cuddly and amiable creatures. One of these Reddit NFTs has a floor price of around 0.01 ETH.
Drip Squad
Drip Squad is a group of chic NFTs that are inspired by the street style scene, making them some of the most diverse NFT avatars a Redditor can boast. A Drip Squad NFT typically sells for approximately 0.03 ETH.
Meme Team
The concept behind Meme Team Reddit NFTs is to imagine what an NFT would look like if the internet puked. These NFTs are intended to be both gorgeous and repulsive. A Meme Team NFT has a floor price of 0.02 ETH.
Where to Buy Reddit NFTs
Reddit uses the Ethereum-based Polygon blockchain to create its collectible avatars, which can only be bought on the official Reddit avatar marketplace.
It’s also advised that you join the invite-only r/CollectibleAvatars subreddit if you want to get a Reddit NFT avatar without being a prominent Reddit user. When you become a member of this group, you can read AMAs from prominent NFT creators as well as postings regarding collectible avatars that are offered for sale.
The CryptoSnoos NFTs for the Reddit collectible avatars do not have an auction system unless you choose to buy them on OpenSea. You can buy one of these NFTs using fiat money because each NFT has a fixed price on the official Reddit NFT marketplace.
Simply click on your profile in the upper right corner, choose Style Avatar from the drop-down menu, then click Shop to access the NFT marketplace.
Conclusion
Although Reddit NFTs can be gotten for free by top Redditors, if you wish to possess any of these digital pieces you can do so by visiting the Reddit NFT Marketplace. Alternatively, you can be more active on your credit accounts to enable you to earn more Reddit karma which might in the end help you qualify for the free NFTs.