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Key Takeaways
Reddit has posted a job commercial for Senior Backend Engineer, NFT Platform.
Within the posting, Reddit highlighted the significance of group within the NFT world.
A Reddit NFT platform wouldn’t be the corporate’s first foray into crypto tasks, having issued its personal ERC-20 tokens up to now.
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Reddit, one of many largest content material aggregators and social media providers, might quickly be launching a platform for customers to purchase and promote non-fungible tokens (NFTs). The corporate is hiring a backend engineer to develop a buying and selling platform for “NFT-backed digital items.”
Reddit Job Itemizing Hints at an NFT Market
A job put up printed as we speak on Greenhouse, a well-liked recruitment platform, seems to substantiate that Reddit is hiring a senior backend engineer to design and construct backend providers for a large-scale NFT buying and selling platform. The put up made be aware of the central position many imagine NFTs will play for creators and communities sooner or later. Therefore, it advertises that it’s “searching for engineers and leaders to assist us seed the [NFT] group.”
In keeping with the job put up, the individual employed because the senior backend engineer will “design, construct and ship backend providers for hundreds of thousands of customers to create, purchase, promote and use NFT-backed digital items.”
The NFTs area has skilled parabolic progress within the final six months, fueled by an unbelievable demand for tokenized artwork, in-game gadgets, and digital collectibles. The continuing increase has prompted a few of the largest crypto corporations, equivalent to Coinbase and Binance, to launch their very own marketplaces facilitating the shopping for and promoting of those property. Now, it seems Reddit could also be planning its personal NFT market.
In keeping with some latest estimates, the full quantity of NFT gross sales amounted to about $10.7 billion in Q3 2021. Amidst the frenzy, different NFT marketplaces have seen skyrocketing revenues. The chief on this class is OpenSea, which generates roughly $68 million in income per week, in keeping with crypto analytics service TokenTerminal.
Notably, this isn’t the primary crypto endeavor for Reddit. The social media agency has beforehand issued ERC-20 tokens for 2 subreddit boards up to now.
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