Reddit Is Building An NFT Platform According to Job Posting

Social media platform Reddit appears to be building a non-fungible token (NFT) marketplace for its millions of users.

What Happened: According to a job posting from the company on Oct. 22, Reddit is looking to hire a senior backend engineer to build and design a platform for NFTs.

The platform will serve as a place for Reddit users to buy, sell and use NFT-backed digital goods.

Reddit said its newly established team aims to build the largest creator economy on the internet, powered by independent creators, digital goods and NFTs.

“In case you haven’t heard, non-fungible tokens (NFTs) are the newest, most explosive movement in the world of crypto. With the power of blockchain, it is now possible to truly own digital assets on the internet in a way that wasn’t possible before,” said Reddit in the job posting.

“If there is one thing we’ve noticed with NFTs, they too have an incredible power to create a sense of participation and belonging … Over time, we believe this will only grow, and NFTs will play a central role in how fans support their favorite creators and communities.”

What Else: Earlier this year, the social media platform launched its own cryptocurrency token, r/CryptoCurrency Moons (CRYPTO: xMOON), which can be received by interacting on the r/Cryptocurrency subreddit.

In August, the token outpaced Dogecoin’s DOGE/USD gains, rallying on the news of its partnership with Ethereum ETH/USD Layer 2 scaling solution Arbitrum.

Photo by Brett Jordan on Unsplash