Reddit enters the NFT market?

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It seems the Reddit social media platform is hiring staff to support the design, construction and maintenance of the NFT exchange.

According to a job advertisement on Greenhouse, Reddit is currently looking for a Senior Backend Engineer for a platform that handles "millions of users". This one is to "create, buy, sell and use NFT-supported digital goods." Reddit requires applicants for this position to have at least five years of backend development experience and the ability to "design and implement complex distributed systems under heavy load."

"There is one thing we noticed at the NFT - they have an amazing power to create a sense of participation and belonging," says the aforementioned job advertisement.

“With each new NFT project there is a lively owner community. Fans of today's biggest creators and brands are flocking now to buy digital goods directly from them - to support them, gain exclusive access, and feel more connected with them. We believe this will only grow over time and the NFT will play a key role in how fans support their favorite creators and communities. "

- added.

It is worth adding that Reddit has been operating as a medium for users and fans of cryptocurrencies for years. Some of its subreddits are responsible for pumping the prices of cryptocurrencies such as dogecoin (DOGE). Users can also get the so-called Platform community points by posting certain content and so earn these types of rewards.

While some cryptocurrency exchanges are slowly launching their own NFT markets (an example is Coinbase, the main such company from the US, listed since this year on the stock exchange), platforms from the social media market are also working to support this technology. Not only that, they are thinking about creating a competitor for OpenSea, today the largest platform with NFT. The social media giant Facebook recently hinted that its digital wallet Novi is likely to support NFT, and Twitter revealed in September that it was working on allowing users to view NFT as a profile picture.

"The NFT movement has just started," added Reddit, suggesting that this is just the beginning of the blockchain revolution in this field.

Regulation and Society adoption

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