27 Jan Reddit Joins The NFT Party With Profile Picture Testing
Reddit has jumped aboard the NFT bandwagon by testing a feature that allows users to add any NFT they own as their profile picture.
The move has mimicked one by Twitter, which launched very a similar feature less than a week ago whereby paying subscribers could add and verify NFTs.
Reddit already has its own Ethereum-based NFT collection called CryptoSnoos, which it released in limited numbers last year.
Profile Pic NFTs
There were very few details available regarding this latest foray into non-fungible tokens. Reddit stated that this particular NFT test is in “very early stages and hasn’t been made available to public users on the site,” according to TechCrunch.
Company spokesperson, Tim Rathschmidt, said that it was a small internal test, and decisions on rolling it out fully have yet to be made.
“We’re always exploring ways to provide value for users and communities on Reddit. At the moment we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership,”
This is not Reddit’s first NFT rodeo as it has been pushing its own Snoos collection, which has received a mixed reaction. Many users of the platform are vehemently anti-crypto and NFT and didn’t hold back with their torrent of abuse in the replies to the announcement topic.
Reddit also has a test collection of alien NFTs on OpenSea, which were not for sale, according to the report.
Video streaming giant YouTube has also dipped a toe into the NFT pool with an announcement this week that it will be enabling NFTs for content creators. In an open letter on Jan. 25, YouTube CEO Susan Wojcicki said that the firm was “focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs,”
NFT Ecosystem Outlook
Despite the 25% crypto market slump so far this year, NFTs are gaining momentum. Industry analytics platform Nonfungible is reporting that there has been $608 million in weekly secondary sales. The figure is double that for the last week in December.
The flavor of the week in terms of NFT collections is Azuki, with $105 million in seven-day sales volume, according to Cryptoslam.
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