An internet micro-posting site known as Reddit has reportedly entered the world of non-fungible tokens (NFTs). The company is testing a new feature that allows users to set NFTs as their profile pictures, something Twitter has done already. Reddit announced its own batch of NFTs in June 2021, called Cryptosnoos, but it was a limited release.
NFTs to be explored further by Reddit:
Reddit spoke with TechCrunch about the company’s plans for NFTs in the future. “We’re always thinking of new ways to provide value to Reddit’s users and communities,” the spokesperson said. We have started testing whether NFTs can be used as avatars and to verify ownership at the moment,” said Reddit spokesperson Tim Rathschmidt. “It’s a small test, and no decisions have been made about expanding or rolling out the capability.”
This seems like the type of feature that might never make it to Reddit since the company is only in its early testing stages. However, if it does implement it, it would give those rare NFTs a new purpose. Indeed, if you spend a lot of money on an image, you’ll want to display it as widely as possible.
CrytoSnoos: A New Type Of Avatar
CryptoSnoos are categorised into three different types of rarity: Legendary (unique, of a kind), Epic (extremely limited edition), and Rare (limited edition). In the beginning, CryptoSnoos will provide glow animations for avatars, and the NFT card will replace profile avatars.
Reddit’s previous NFT moves:
In fact, Reddit has already entered the NFT space with its own CryptoSnoos at nft.Reddit.com (though these are long gone). With the company already selling its mascot in limited quality, it is logical to appear in NFT profile pictures.
Regarding which blockchains Reddit would support, the company did not elaborate, so we’ll have to wait until this feature becomes more widespread to know more.
Additionally, Reddit has been open to the idea of cryptocurrency on the platform. In December, the company launched a beta program where certain subreddits could be rewarded in native tokens for their contributions. Arbitrum, the Ethereum L2 solution used in the test, would be used as the blockchain for the NFTs. The company did not comment on the network on which the NFTs were built.
