Reddit, the company that advertises itself as the front page of the internet, has announced the integration of Ethereum NFTs into its platform. The platform auctioned four NFTs on OpenSea where in each one of them, the Reddit logo was showcased in a customised manner. Only these four NFTs can be used as avatars on the platform.
Each of the NFT by Reddit was auctioned for $4,00,000 (approx Rs 30,243,801). Owners of the NFT can set these as their profile picture on the platform while those who do not own them have to settle for jpeg files to use as profile pictures. With only four NFTs available for purchase, it seems like Reddit is still exploring the idea of what to do exactly with non-fungible tokens.
Reddit, in the future, could also allow users to use any type of NFT they own as a profile picture by connecting the service to other NFT marketplaces. A bunch of other social networking sites such as Twitter, Facebook and Instagram are already convinced with the idea of NFT’s being added to their platforms.
The CEO of Facebook, Mark Zuckerberg recently confirmed that Instagram is soon going to add NFTs to the photo-sharing social media platform. Instagram seems to be following the footsteps of Twitter, which already started to add NFT related features to the microblogging platform, such as setting NFT’s as your profile pictures.
Zuckerberg spoke about Instagram’s NFT plans while speaking at the South by Southwest conference in Austin, Texas. He said that, ”over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment”.