Reddit Is Building Own NFT Platform, Announces Positions For NFT Engineers

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Reddit introduces over 20 million users to its new tokens on the Ethereum Blockchain
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Reddit is developing its own NFT platform to bring NFTs to its community of 450 million users per month, according to a new job listing for a Senior Backend Engineer on LinkedIn.

As per the listing, Reddit says that an NFT platform aligns with its goals of creating a sense of participation and belonging to its user community.   

“With every 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 goods directly from them, to support them, to gain exclusive access and to feel a greater sense of connection with them.”

Reddit intends for its NFT platform to become the biggest creator economy on the internet, consisting of independent creators, digital goods, and NFTs. To this end, Reddit has also announced multiple positions for engineers and leaders to form a strong team for seeding its NFT platform building process.

Aggressive Hiring For Crypto/NFT Positions Continues

The Reddit news adds to the ongoing hiring frenzy in the cryptocurrency industry for NFT-focused teams and numerous other crypto-related positions. NFTs represent 2021’s explosive trend in the cryptocurrency market, a year after yield farming on decentralized protocols took the financial markets by storm in 2020.

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According to hiring platform Indeed, cryptocurrency and blockchain career postings have jumped 118% in 2021 compared to 2020. The seeming shortage of qualified experts or those willing to be employed rather than work on their own projects has led to a very competitive recruitment process.

“In June 2021, 44% of crypto software development jobs posted on Indeed, were remote, compared with 31% of all other software development job postings.”

Indeed adds that while the share of blockchain and crypto listings on its platforms is still small, its popularity and visibility in the labor market are soaring.

“Crypto job postings now include functions like finance and marketing that go beyond mining and trading of these digital assets, a sign the industry is maturing.”

Reddit: NFTs Will Revolutionize Digital Ownership

The NFT market has reached a market valuation of $768.4 billion, with weekly and monthly sale volumes of $373.2 million and $2.4 billion, respectively according to CoinMarketCap data.

According to Reddit, NFTs are only getting started and will grow to play a central role in how fast fans support their favorite communities and creators.

“Just as cryptocurrencies are set to revolutionize the world of economics and finance, NFTs are going to rewrite how we think about digital goods.”