Fri. Dec 3rd, 2021

NFTs are sinking their non-fungible claws in even deeper

Pictures: Timothy A. Clary (Getty Images)

Depending on who you are asking, NFT can be one Strange cosmic joke Or a Environmental disaster Waiting for that to happen — but no one is stopping the major platforms from jumping on the non-fungible bandwagon. The latest social media giant on that list appears to be Reddit, according to a new job posting. First seen by Insider This suggests that the so-called “front page of the Internet” is preparing to launch its own NFT marketplace.

“If you haven’t heard, non-fungible tokens (NFTs) are the newest, most explosive movement in the crypto world,” it reads. List of jobs still posted For a “senior backend engineer” to build Reddit’s nascent NFT platform. “For many, it’s a way to support their favorite artists, and for others it’s a way to curate impressive collections of super-rare collections. Just as cryptocurrencies are ready to revolutionize the world of economics and finance, NFTs are rewriting how we think about digital products. I do. “

Among other responsibilities, the engineer who tapped Reddit for this role will be tasked with designing and building a backend service “to create, buy, sell and use NFT-backed digital products for millions of users.” Although such a setup would put Reddit in a non-fungible token space against other marketplace players, e.g. The open sea And Binance, Other social media players are looking for other ways to deal with NFT. Twitter, for example, is apparently working on a profile tab for “collectibles” that lets users display them Excessive price Digital doodads.

According to A post From the reverse engineer extraordinary Jane Manchun Wong this past weekend, Twitter is also working on a tab that will give you some extra dit about each NFT; The description, “artist,” is a part of the collection (if any), and much more. From the screenshot posted by Wong, it looks like the NFT tab will find a home at the top of people’s profile page, along with other new features like Twitter. New tip jars. (It’s worth remembering that platforms test all sorts of things that never see a complete rollout.)

Like Something Of Twitter’s recent product rollout seems to be a desperate takeover of a platform that has infiltrated Reddit’s NFT-dom that has long struggled to generate some revenue from online advertising. Facebook / Google Duplicate. Reddit is having problems with advertisers There is nothing new, But only of the company I’m just starting out To prevent big brands (and their big-brand money) from offering specific tools to keep their content running as close as possible to its platform Toxic content. In fact, Reddit actually took a step back on the brand-friendly front when it did Announced last month That it would be wedging ads into human conversation threads. Perhaps coincidentally, Twitter announced that it would do the same thing earlier this month – a move that we took To mark Be sure to tick off advertisers and Twitter users alike.

Unlike Twitter, though, Reddit needs to think An upcoming IPO, Which means it is abundant and abundant (And Lots) Capital and if it can’t hack the digital advertising market, it can crack the NFT market instead.

“If we have noticed one thing with NFTs, they also have an incredible ability to participate and create a sense of ownership,” Reddit wrote on his to-do list.

“Fans of today’s biggest manufacturers and brands are now flocking to buy digital products directly from them – to support them, gain exclusive access and feel a greater sense of connection with them,” Reddit said. “Over time, we believe it will only grow, and NFTs will play a central role in how fans support their favorite creators and community.”

How to consider Facebook Also Exclusive With a huge chunk of the creator economy (via Instagram), Reddit will have to cut its work to corner that market as well. Good luck, my idea !!

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