Key Takeaways:
- Reddit has integrated NFTs in its platform.
- The company also reportedly auctioned four of them for a total of $1.6 million.
It is safe to say that the early stage to test the functioning of NFT integration on Reddit, the world’s largest social network, has been completed. The platform integrated NFTs and auctioned only four of them at almost $400,000 each, as reported by Trustnodes.
The collection of the NFTs on Reddit is called CryptoSnoos. It features the alien mascot Snoo in contrasting movements and situations based on art history. They are “fragmented, abstracted, impressionistic, futuristic folk and modern (post and pre), and definitely enlightened.”
Reddit users won’t be allowed to use their customized avatar even if one of the four is not available. Instead, they can use a given jpeg or NFT of their choice after connecting their wallets with Metamask. Redditors are anticipating this as an early test due to the scarcity of NFTs.
This integration might have happened because of a few reasons. Either the platform is trying to make its new design more prominent or to make the old one more famous.
However, this step is also subject to risks if the user’s Ethereum address is visible to the public. It is a privacy concern as anyone will be able to keep a track of the person’s wealth and transactions. This problem is non-existent at OpenSea as they display the blockchain address as the username and account. Reddit should try to adopt this technique.
Along with Reddit, Twitter is also on the run to bring this change to its platform.
