Reddit Hints at Launch of NFT Platform With New Job Listing

Reddit published a job listing for a senior backend engineer for a blockchain-based project.

By Shomik Sen Bhattacharjee | Updated: 25 October 2021 14:29 IST

Photo Credit: Unsplash/ Brett Jordan

Reddit may soon foray into the world of cryptocurrency

Highlights

Reddit is looking for a backend engineer for an NFT-related project
Reddit's blockchain-based project is likely an NFT marketplace
Twitter, Facebook have begun projects that support NFTs

Reddit appears to be hiring engineers for a blockchain project, and this could hint at a new feature the platform is developing. Non-fungible tokens (NFT) are the rage now and social media giants are feeding into the frenzy by launching their own platforms — with Reddit potentially being the newest of the lot. So far we've seen Facebook and Twitter set up support for NFTs on their respective platforms, so it's not a huge surprise that is Reddit is looking to fill a new role of a backend engineer who'll be responsible for driving the creation, adoption, and trade of tokenised goods.

According to a Cointelegraph report, a handful of people spotted a job listing on recruiting platform Greenhouse, where Reddit posted a requirement for a senior backend engineer for the NFT platform. The company is apparently recruiting people to join a team that will work on a 'blockchain-based project'.

To be more specific, it was stated in the job posting that Reddit wants to hire new employees that will help "design, build and ship backend services for millions of users to create, buy, sell and use NFT-backed digital goods." With this, many are convinced the company is working on its own NFT space for buying and selling non-fungible tokens and other cryptocurrencies.

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Other prerequisites for the post that the company is looking to fill include at least five years of work experience in backend development and the capability to design and execute complex distributed systems running under high load.

"If there is one thing we've noticed with NFTs, they too have an incredible power to create a sense of participation and belonging," Reddit wrote in the job post. "With every new NFT project, a vibrant community of owners pops up with it. Over time, we believe this will only grow, and NFTs will play a central role in how fans support their favourite creators and communities."

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If Reddit does go on to launch an NFT platform, it is rumoured to become one of OpenSea NFT marketplace's competitors — currently among the biggest NFT marketplaces today. As more social media companies get into the business, OpenSea's dominance is expected to loosen. It may be early days for a stiff competitor to show up, but based on what is stated in the job ad, it appears that Reddit, for one, is definitely determined to jump aboard the NFT hype train early.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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