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Hey you,
The NFT sector is booming and platforms, social networks and companies have understood this! TikTok has launched itself on the subject, Sorare (which recently raised 1 billion) has announced that it wants to be the first NFT sports entertainment group in the world… In short, it’s making emulators. Reddit is also moving up a gear on the subject. Passion Media takes a look at the platform’s ambitious strategy.
Reddit intends to position itself on the subject of NFT
This time, it’s not an announcement in the press or a conference that caught our attention. No, it’s a job offer. Reddit has indeed posted a recruitment ad with a title that speaks for itself: “Senior Backend Engineer, NFT Platform”. In other words? The platform intends to position itself, and quickly, as a key player on the subject of NFT. We learn on the announcement that the engineer in question will have to “design, build and ship backend services so that millions of users can create, buy, sell and use digital assets supported by NFT”.
An NFT market estimated at more than 10 billion in 2021
We talked about it in our topic dedicated to the creative economy […] NFTs (for Non Fungible Token) are virtual and digital works (tweets, gifs, videos, music, games, etc…) that can be acquired. Today, this market, although still very recent, is already estimated to be worth more than 10 billion euros in the third quarter of 2021.
An NFT collection already launched in June 2021
This desire to position itself in the NFT sector is not new. Reddit had indeed launched last June its own collection of NFT. This one consisted of 4 digital avatars inspired by the extraterrestrial mascot “Snoo” of the brand. These have been sold on OpenSea and have generated more than $1.85 million to date.
Community Points, a crypto-currency reward program
This is not Reddit’s first attempt. The company had also rolled out Ethereum-based tokens to a test community of 100,000 people. These can be exchanged for benefits and additional features within the communities (or even for real money). Obviously, this has been a success as the application plans to launch this feature soon for its entire community (which represents 52 million daily active users in December 2020).
