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Reddit Searching for Backend Engineer for NFT Platform

Key Takeaways

  • Reddit has posted a job commercial for Senior Backend Engineer, NFT Platform.
  • Within the posting, Reddit highlighted the significance of neighborhood within the NFT world.
  • A Reddit NFT platform wouldn’t be the corporate’s first foray into crypto initiatives, having issued its personal ERC-20 tokens prior to now.

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Reddit, one of many largest content material aggregators and social media companies, could 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 post printed at the moment on Greenhouse, a preferred recruitment platform, seems to verify that Reddit is hiring a senior backend engineer to design and construct backend companies for a large-scale NFT buying and selling platform. The put up made be aware of the central function many consider 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.”

Based on the job put up, the individual employed because the senior backend engineer will “design, construct and ship backend companies for tens of millions of customers to create, purchase, promote and use NFT-backed digital items.”

The NFTs area has skilled parabolic development within the final six months, fueled by an unbelievable demand for tokenized artwork, in-game objects, and digital collectibles. The continuing increase has prompted a few of the largest crypto companies, reminiscent of Coinbase and Binance, to launch their very own marketplaces facilitating the shopping for and promoting of those belongings. Now, it seems Reddit could also be planning its personal NFT market.

Based on some current 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 prior to now.

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