You’ve heard of Reddit, right? If not, you’re likely not a huge fan of social media. After all, the platform is one of the largest social platforms online today, reaching more than 400 million consumers each and every month.
Well, according to this job posting, the company intends on jumping into the NFT space, and doing so with a big splash.
At the moment, the company is looking to hire developers to help it build what it hopes will become “the largest creator economy on the internet,” focused on NFTs and the valid transfer of ownership of digital goods.
Why Is Reddit Jumping on the NFT Train?
Throughout the job listing posted by the popular social network, you’ll find comments that point to the validity and popularity of these one-of-a-kind digital tokens. However, there was one paragraph in the posting that made it abundantly clear why the network is getting involved. It reads:
“For Reddit, it will always be about community. As the “frontpage of the internet”, Reddit brings over 430 million people together each month through their common interests, inviting them to share, vote, comment, and create across thousands of communities. If there is one thing we’ve noticed with NFTs, they too have an incredible power to create a sense of participation and belonging. With every new NFT project, a vibrant community of owners pops up with it. Fans of today’s biggest creators and brands are now flocking to buy digital good directly from them – to support them, to gain exclusive access, and to feel a greater sense of connection with them. Over time, we believe this will only grow, and NFTs will play a central role in how fans support their favorite creators and communities.”
That’s a pretty deep statement, and it goes along the lines of a stance that I’ve had for some time. Sure, the artwork involved in many NFTs is mind-blowing, but the real value of these tokens is the community that comes along with them.
The simple fact is that as a social network, Reddit has built its entire business around the idea of community and that bringing communities together online is a valuable concept. Considering the strong communities that support the most popular NFT projects, it only makes sense that Reddit, and other community-focused businesses, would want to hop into the fray, staking claim to their corner of the industry.
However, the post also suggests that the interest goes beyond the communal aspects of the industry. In the following statement from the job listing, it becomes clear that Reddit sees the pivotal shift in digital ownership that NFTs have the potential to create:
“Just as cryptocurrencies are set to revolutionize the world of economics and finance, NFTs are going to rewrite how we think about digital goods. So while NFTs are currently dominated by digital artwork, NFTs can be minted to represent ownership in any item at all. Beyond visual art, there are already NFTs for music, videos, articles, and even memes.”
The fact is, when you look at today’s internet as we know it, digital ownership really doesn’t exist on a consumer level. Think about it, if you buy a movie on your favorite streaming platform, you only have access to that movie as long as you pay monthly for access to the platform. NFTs, stand to change that in a big way, giving real validated ownership to digital products.
So, What Will Be Possible on Reddit’s NFT Platform?
Most companies don’t give too many details on what to expect from products under development in job listings, and Reddit is no different. While the listing has made it clear that the company wants to create the largest NFT platform online, it doesn’t go into too many details as to what the company plans to offer through the platform. However, there are a few features that are already clear:
- Create. The listing points to the fact that creators are an integral piece of the NFT ecosystem as a whole, and suggests that users of the coming Reddit platform will be able to create their own tokens.
- Buy, Sell & Trade. As with any other tokenized marketplace, users should have the ability to buy, sell, and trade tokens within the platform.
- Community Building. Throughout the job listing, Reddit made it clear that its core interest in the industry is the fact that communities are standing behind creators and communities. As a social network, it only makes sense that there will be community building tools for creators and members of the non-fungible token community as a whole.
What You Need to Qualify for the Job
If you’re interested in diving into the opportunity with Reddit, but don’t have any NFT or cryptocurrency experience, it’s OK. In the listing itself, the company points to the fact that it’s even working to learn about the industry as quickly as possible. However, there are some requirements that you’ll need to have in order if you want to apply. Those include:
- Five years or more of backend development experience using Go, Python, Postgres, Redis, Thrift, GraphQL. You should also have experience with AWS.
- The ability to design and implement complex distributed systems operating under high load with experience developing customer-facing applications preferred.
- Entrepreneurial spirit. The post suggests that everyone should act as a startup CEO.
- Excellent communication skills.
If you have these, and are interested in applying, click the link at the beginning of the article titled “this job posting.”
The Bottom Line
The bottom line here is simple. NFTs are all about empowering communities, the same central focus that you find in social networks. So, it only makes sense that Reddit and other social networks will be jumping into the industry. It will be exciting to see the social network’s coming platform, and considering the sense of urgency in the job listing, I’m expecting that we’ll see the launch sooner rather than later.
Disclaimer: Meta Masters Media is not an investment advisor or broker/dealer. Our website is designed to be used for educational and entertainment purposes only. Nothing on this website is intended to act as investment advice. Before investing in NFTs, or any other asset for that matter, it’s important that you do your own research and gain a full understanding of just what you’re buying before you dive in.