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Bruce B. Dec 26, 2022 (edited)
Financial Services News
Last active over 7 days
Last active over 7 days
Reddit's collectible avatars initiative, which was launched in partnership with Polygon, has been a success. To date, over 5 million NFT collectibles have been minted, which has been a bright spot in an otherwise difficult times.

The total number of minted avatars surpassed the 5 million mark, with over 4.25 million unique wallets holding at least one collectible, according to Polygon and Dune Analytics.

Reddit surpassed OpenSea, one of the largest NFT marketplaces, in total users who own NFTs. While NFTs have had branding issues due to their association with scams, Reddit has simplified the process by using familiar terms and avoiding jargon as much as possible.

This makes user experience design, and community the key to the initiative's success. Reddit also made wallet creation effortless and seamless. Unlike the conventional way of creating wallets today, Reddit creates it for you in a few clicks.

The NFT avatars give users social power within their subreddits. With an avatar, they can stand out in the comments, give high-value awards, and use them as profile pictures.

Through this initiative, Reddit is showing how Web2 platforms, through avatar giveaways, can drive significant adoption in Web3. The initiative's track record of over 5 million minted NFTs demonstrates the potential of familiar and user-friendly social platforms.


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https://youtu.be/bYZcoLVJhe8

Reddit Minted 5 MILLION NFTs Through Their Avatar Profile Picture Initiative. Bullet Po...

Reddit's collectible avatars initiative, which was launched in partnership with Polygon, has been a success. To date, over 5 million NFT collectibl...

 
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Bruce B. Dec 20, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Chief operating officer and president of video game giant Activision Blizzard, Daniel Alegre, will join NFT leader Yuga Labs as its new CEO, according to a report.

Effective in the first half of 2023, Alegre will replace the company’s current CEO Nicole Muniz, who will stay on as a partner and strategic advisor to the company.

"Daniel has held one of the highest level roles at one of the largest gaming companies in the world,” Wylie Aronow, Yuga Labs co-founder, said in a statement.

"He brings valuable experience across entertainment, e-commerce, and global strategic partnerships — all of which are critical aspects of an immersive web3 world built by creators and for creators."

Formed in April 2021 with the release of the Bored Ape Yacht Club non-fungible token (NFT) collection, Yuga Labs is one of the most well-known players to have emerged from the NFT boom.

In March, Yuga acquired two other popular NFT collections, Crypto Punks and Meebits. It also closed a $450 million funding round led by a16z. Yuga Labs reached a valuation of $4 billion. With the raise, the company also announced plans for a “gamified metaverse” project called Otherside.

“The company’s pipeline of products, partnerships, and IP represents a massive opportunity to define the metaverse in a way that empowers creators and provides users with true ownership of their identity and digital assets,” Alegre stated in a blog post.

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https://youtu.be/Fp3Njj2xoTc
 
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Bruce B. Dec 10, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Starbucks Odyssey, the coffee chain’s new Web3 rewards platform built on side-chain network Polygon, is officially rolling out to the world.

Starbucks launched the platform on Thursday for an initial group of beta testers chosen from its waitlist. A spokesperson said that Starbucks has seen “unprecedented interest in Starbucks Odyssey,” and that the response from customers has been “overwhelming” so far.

Starbucks Odyssey builds upon the firm’s existing Starbucks Rewards initiative, but with a Web3 twist. Users can earn rewards points for buying food and drinks at stores, but also for participating in activities via the Odyssey mobile app, such as quizzes and other digital experiences.

Completing activities and amassing points then earns users “Journey Stamps” tokenized as NFT collectibles on Polygon. These stamps, which reflect the history of the 51-year-old coffee juggernaut, can be collected and eventually traded.

The stamps and points also collectively unlock access to potential exclusive experiences, such as online drink-making classes, events at Starbucks’ flagship Reserve Roastery locations, or even a trip to the company’s coffee farm in Costa Rica.

In 2023, Starbucks Odyssey will launch its NFT marketplace powered by Nifty Gateway, letting users buy and sell their Journey Stamps, as well as purchase limited-edition NFTs created in collaboration with company partners.

Funds from the latter NFT sales will be used in part to donate to charitable causes.

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https://youtu.be/uAPGYw3o5gc
 
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