The social media giant, which previously wanted to launch a platform for users to produce their own NFTs, has now taken action for an NFT marketplace.

Describing NFTs as “the newest and explosive trend in the crypto world,” Reddit has posted two job postings for its NFT marketplace. Reddit is looking for a group product manager and a senior backend engineer in its new marketplace.

The group product manager will design the sales experience for NFT manufacturers in the new marketplace, and the engineer will develop backend services so users can create and sell NFTs.

Reddit

“With the power of blockchain, it is now possible to truly own digital assets on the internet in a way that never existed before,” the postings said, whose mission is to empower Reddit users and communities to create and own digital products.

   “Just as cryptocurrencies will revolutionize the world of economics and finance, NFTs will rewrite our thinking about digital products.

We view NFTs through the eyes of the community: We believe they have an incredible power to create engagement and belonging. We are working to develop tools that will allow us to create digital products that can convey the values, traditions and humor of a community."

Reddit wants to take similar initiatives to increase the sense of belonging in its own community, as strong communities are formed around NFT (Non-fungible token) collections.

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The NFT (Non-fungible token) marketplace is not Reddit's first step in this area. The social media giant started testing the feature that will allow users to use their NFTs as profile photos, right after Twitter in the past months.

The popular social media platform, which has around 430 million monthly users as of 2021, believes that the NFT (Non-fungible token) movement has only just begun.