- Reddit has posted a job advertisement for Senior Backend Engineer, NFT Platform.
- In the posting, Reddit highlighted the importance of community in the NFT world.
- A Reddit NFT platform would not be the company’s first foray into crypto projects, having issued its own ERC-20 tokens in the past.
Share this article
Reddit, one of the largest content aggregators and social media services, may soon be launching a platform for users to buy and sell non-fungible tokens (NFTs). The company is hiring a backend engineer to develop a trading platform for “NFT-backed digital goods.”
Reddit Job Listing Hints at an NFT Marketplace
A job post published today on Greenhouse, a popular recruitment platform, appears to confirm that Reddit is hiring a senior backend engineer to design and build backend services for a large-scale NFT trading platform. The post made note of the central role many believe NFTs will play for creators and communities in the future. Hence, it advertises that it is “looking for engineers and leaders to help us seed the [NFT] team.”
According to the job post, the person hired as the senior backend engineer will “design, build and ship backend services for millions of users to create, buy, sell and use NFT-backed digital goods.”
The NFTs space has experienced parabolic growth in the last six months, fueled by an incredible demand for tokenized art, in-game items, and digital collectibles. The ongoing boom has prompted some of the largest crypto firms, such as Coinbase and Binance, to launch their own marketplaces facilitating the buying and selling of these assets. Now, it appears Reddit may be planning its own NFT marketplace.
According to some recent estimates, the total volume of NFT sales amounted to about $10.7 billion in Q3 2021. Amidst the frenzy, other NFT marketplaces have seen skyrocketing revenues. The leader in this category is OpenSea, which generates roughly $68 million in revenue per week, according to crypto analytics service TokenTerminal.
Notably, this is not the first crypto endeavor for Reddit. The social media firm has previously issued ERC-20 tokens for two subreddit forums in the past.
Reddit Tokens Soar on Ethereum Arbitrum Launch
MOON, the community token of the r/CryptoCurrency subreddit, has seen explosive price action after migrating to Arbitrum. Reddit Tokens Surge On Arbitrum News Reddit tokens are in high demand. Last…
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…
Coinbase NFT Marketplace Waitlist Soars Past 1.5 Million
Coinbase is following other major players into the NFT fray, including FTX U.S., Crypto.com, and Visa. Consumer interest has exploded, with over 1.5 million signing up for the waitlist in…
Has Crypto Entered “NFT Summer”?
Prices for in-demand NFTs like CryptoPunks, Autoglyphs, and Fidenza have hit record highs this weekend, while projects like Axie Infinity have exploded in popularity over the last few weeks. Is…