How Reddit defeated Crypto Winter and established a $10 million market for customized avatars
Join Our Telegram channel to stay up to date on breaking news coverage When Reddit revealed its second batch of collectible avatars at 2:59 p.m. ET on October 20, Ethan was prepared and holding his phone. Given that the iOS App Store takes a 30% share, he decided to try to purchase them on his desktop computer. Ethan, a 38-year-old graphic designer from northern Virginia who requested anonymity to avoid doxxing, objected to the concept that Apple would receive the money instead of independent artists. He was prepared to purchase some NFTs of Reddit’s unique Snoo mascot created by internet designers like Rojom and Foustling when he realized that the Stripe payment card integration on desktop wasn’t functioning for him. Instead, he was there with his iPhone and PayPal account. When his bank contacted to inquire about whether the purchases were fake, Ethan was scrolling and clicking through his favorite collections. He made an effort to comfort them as soon as he coul...