Source | Mashable
The front page of the internet announced the “experiment” Thursday morning, with Reddit Product Lead Peter Yang explaining that the non-fungible tokens would take the form of cartoon avatars modeled after the Reddit logo. Bidding on the NFTs, which are essentially metadata encoded onto the Ethereum blockchain that describe an object or artwork, is already in the thousands of dollars.
Dubbed CryptoSnoos, the three NFTs currently listed for sale were minted on June 17 and are listed for auction on the OpenSea platform. “Original Block,” “Helium,” and “Snoopermatic” — the artworks the NFTs point to — are all based on the original Reddit logo drawn by Reddit co-founder Alexis Ohanian in 2005.
“Take advantage of this rare opportunity to own a piece of Reddit history—snag a CryptoSnoo NFT built on the Ethereum blockchain and start your collection,” reads Reddit’s NFT page.