Reddit planning to bring its own NFT platform

The American social news aggregator and content creating platform Reddit announces hiring a team to design, create, and maintain a Non-Fungible Token (NFT) platform.

As per the Greenhouse job posting, the social media giant is seeking a senior backend engineer to take the responsibility to design a platform for millions of users to design, purchase, and sell NFT-backed digital goods.

The company specified that the applicants should have at least five years of experience in backend development. Reddit is preferring entries of people who can design and build complex distributed systems for handling the high load.

Job posting further commented about the potential of NFTs by adding, “If there is one thing we’ve noticed with NFTs, they too have an incredible power to create a sense of participation and belonging.”

Reddit believes NFT movement has just started

Reddit has been the favorite place for crypto investors to discuss various topics. It has created a huge crypto traders community and is known for pumping the prices of various cryptocurrencies including Dogecoin. The platform has the option to post certain content to earn community points with digital tokens such as Moon or Bricks.

“With every new NFT project, a vibrant community of owners pops up. Fans of today’s famous creators and brands are now looking to buy digital goods directly from them. This is because of their support and urge for exclusive access and a greater sense of connection with them.

Over time, we believe this is only going to grow, and NFTs will be a central element in how fans support their favorite creators and communities.”

Many social media platforms have stepped forward to launch their own NFT marketplace. The social media giant Twitter announced in September that it was working towards providing an option to users to display NFT on their profile picture.

Facebook has hinted that its newly launched Novi wallet would most likely support NFTs. However, as TheCoinRise reported, the regulators have been pressuring Facebook to immediately discontinue the wallet.

Reddit stated,” The NFT movement has just begun.”