Tuesday, Nov 29, 2022
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Reddit Launches Collectible Avatar NFT Marketplace, Bitcoin Falls

Reddit’s NFT marketplace will allow users to buy blockchain-based profile pictures. The price of Bitcoin fell 0.15 per cent in the last 24 hours, while Ethereum was up by 0.17 per cent.

Reddit has launched a collectible avatar marketplace, where users will be able to buy blockchain-based profile pictures.

Social network Reddit has launched a collectible avatar marketplace, where users will be able to buy “blockchain-based profile pictures” in the form of non-fungible tokens (NFTs), according to a CoinDesk report. The NFTs will be stored on Polygon's blockchain.

The website will work with independent artists to produce one-of-a kind avatars that Reddit users can purchase for a set fee and modify using accessories. A part of the profit from the sales will go to the creators of the NFTs. Once Reddit users purchase the NFT, they would have rights on the artwork both on and off Reddit.

Crypto Prices

The price of Bitcoin (BTC), the largest cryptocurrency by market capitalisation, fell by 0.15 per cent in the last 24 hours, and it was trading at $21619.59 at 5:15 pm. According to data from Coinmarketcap.com, its dominance in the crypto market is currently at 43.30 per cent, down by 1.81 per cent in the last 24 hours.

Ethereum (ETH) was trading at $1,223.57, up by 0.17 per cent, while Binance Coin (BNB) was up by 0.03 per cent in the last 24 hours to trade at $239.69. Solana (SOL) was up by 0.06 per cent to $37.25, while Cardano (ADA) was down by 0.13 per cent to $0.4692.

Meme Coins

Dogecoin was trading at $0.06938 at 5:15 pm, up by 0.12 per cent on Coinmarketcap.com. Its rival, Shiba Inu was trading in the green at $0.00001091. Samoyedcoin was down by 3.21 per cent, and was trading at $0.008951, while Dogelon Mars was up by 2.72 per cent, and was trading at $0.0000003218.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $952.35 billion, an increase of 3.39 per cent in the last 24 hours, while the total crypto market volume was $69.42 billion, registering an increase of 29.10 per cent.

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