Reddit says it wants to build the biggest creator economy on the internet using its own NFT platform
Rafael Henrique/SOPA Images/LightRocket via Getty Images
- Reddit is looking to hire a senior backend engineer to develop its own NFT platform.
- A job ad states the social media site wants to "build the largest creator economy on the internet."
- The role requires development skills but no prior experience with crypto or NFTs.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Reddit is looking to launch its own marketplace for non-fungible tokens, according to a job listing posted on Friday.
The social-media site is recruiting a senior engineer who will be tasked with designing, building, and shipping "backend services for millions of users to create, buy, sell and use NFT-backed digital goods."
Reddit was at the forefront of one of the most popular market events this year: the GameStop trading frenzy. Meme-inspired cryptocurrency dogecoin also saw massive gains driven by discussions on the website, which pitched the token as a fun rival to the dominant crypto, bitcoin.
"Just as cryptocurrencies are set to revolutionize the world of economics and finance, NFTs are going to rewrite how we think about digital goods," Reddit says in its job ad.
Reddit's job openings include only one NFT-related job ad so far, but the post suggests it's looking to hire more.
"Our team is a new and exciting, rapidly growing team that aims to build the largest creator economy on the internet, powered by independent creators, digital goods, and NFTs," the ad reads. "We are looking for strong engineers and leaders to help us seed the team, set its strategy, and build for the future."
Applicants are expected to have more than five years of experience in backend development, but the role doesn't require a background in crypto or NFTs.
NFTs are unique digital assets designed to represent ownership of a virtual item, such as artwork, music, a video clip, or tweet. Demand for these assets has been fuelled by a growing number of artists, musicians, and influencers in sports, fashion, and the entertainment industry producing digital assets to engage with fans and consumers.
Advocates say NFTs enable creators to monetize their digital work, and provide buyers with a unique and established proof of ownership.
This has encouraged a host of companies to enter the market in order to allow users to mint, purchase, showcase, and discover NFTs easily. Coinbase is looking to launch its own NFT marketplace by the end of the year, while FTX has already launched one.
"The NFT movement has only just begun," Reddit said.