Nifty Newsletter, April 5–11 By Cointelegraph

In this week’s newsletter, find out why a nonfungible token (NFT) collector paid $192,000 for a free NFT. Check out how community members responded as Reddit deployed its contract for its Gen 3 NFT avatars, and how a previously unreleased David Bowie track has been turned into an NFT. In other news, discover how LooksRare plans to compete with rival NFT marketplaces through a new upgrade, and how NFTs can unlock a biodegradable vinyl record.

Social media forum site Reddit has recently deployed the smart contract for its third-generation digital collectibles known as Reddit Avatars. The contract was deployed on the Polygon blockchain, with community members excited for the much-awaited drop.