Reddit's adoption of jargon-free approach to selling NFT avatars may have brought as many as half a million or more newcomers to the world of crypto assets and web3.
. Many people who bought NFTs when prices were high have subsequently seen the value of their digital assets sink dramatically.Reddit’s Collectible Avatars have proved to be an easy-to-understand and fun introduction to NFTs and cryptocurrency,” saidfungible assets between cryptocurrency networks. Chambers agreesMany of the platform’s users have been commenting in forums about how buying a Reddit avatar represented the first time they have ever purchased an NFT.
Some gaming executives like Stardust co-founder and CEO Canaan Linder believe this direct approach of describing web3 applications with straightforward terms like “collectibles” or “games” will help facilitate a smoother transition into the next era of a blockchain-enabled internet, or web3. “I think that decontextualization; that these are just games, these are just collectibles, these are just items you can take from one game to another, it is going to make this technology so much more accessible,” said Linder, whose company provides tools for building blockchain games.
“I think what we are starting to see is that how we frame and phrase and deliver that technology, how we speak of it, is just as important as the technology itself,” he also said. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.RT is a senior reporter covering the metaverse for The Block. Prior to joining, he covered the entertainment industry for The Wall Street Journal. Before that, he worked as a business reporter for Bloomberg in Brazil.
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