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    Reddit hints at launching its own NFT platform

    Reddit hints at launching its own NFT platform

     

    Social media platform Reddit appears to have been hiring professionals for supporting the design, building and maintenance of a nonfungible (NFT) platform.

     

     

    According to a job posting on Greenhouse, Reddit is looking to hire a senior backend engineer for a new platform that would be responsible for “millions of users to create, buy, sell and use NFT-backed digital goods.”

     

    The posting also detailed that it requires the new joiner to have experience of at least five years in backend development as well as the ability of designing and implementing a chain of complex distributed systems “operating under high load.”

     

     

    The job posting also outlined that NFTs have “an incredible power” of creating an overall “sense of participation and belonging.”

     

     

    Every new NFT Project births a vibrant community of individuals and owners, the job listing explained. As art fans of today’s biggest creators and brands all over the world are now emerging to buy directly from NFT artists by supporting them, the move has a promising future. The profound impact of NFTs is also that it lets owners feel they have “exclusive access” and “greater connection” with the artists.

     

     

    As per Reddit, the NFTs will “only grow” and play “a central role” in how fans pour support for their “favourite creators and communities.”

     

     

    Reddit, as a social network, has been a highly instrumental platform in bringing together crypto users for all these years as the platform’s subreddits are largely the reason for pumping prices of tokens, including the ravely popularized Dogecoin (DOGE). 

     

    Additionally, users also earn Community Points in the platform, which is digital currency-like tokens in the form of either Moons or Bricks. Reddit lets users gain Community Points by enabling them to post certain content and earn rewards.

     

     

    While several crypto exchanges are gradually launching their own NFT marketplaces, social media networks are also working to support the technology, if not become a competitor to OpenSea. 

     

    Social media giant Facebook has also recently hinted that its Novi wallet would most likely support NFTs, whereas Twitter revealed in September 2021 that it is making progress towards letting users display an NFT as their profile picture.

     

     

    Meanwhile, alongside the job posting, Reddit has posted, “The NFT movement has only just begun.”

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