You can set your favorite NFT as your Reddit profile picture

Reddit is not a stranger to netizens.

The platform is valued at $10 billion and has recently started testing the feature to allow users to set their profile picture as an NFT.

Currently, Reddit has its own Ethereum-based NFT called CryptoSnoos. Yet this new feature will enable Reddit users to add their non-fungible tokens to their profiles.

Reddit is new to the NFT foray and has confirmed that the feature is a test and is in “very early stages and hasn’t been made available to public users on the site”.

According to one report, Reddit has a not-for-sale collection of wonder NFTs on OpenSea currently being run in the test mode.

In the October of 2021, Reddit posted a job listing citing the requirement for a site engineer to “design, build and ship backend services for millions of users to create, buy, sell and use NFT-backed digital goods”.

This isn’t a one-off

The race to the NFT mountain top is on!

Twitter is another high-profile company that announced a similar feature that will allow users to verify ownership of NFTs they own. Through its Twitter Blue service on iOS.

Once verified, their NFT avatars (profile pictures) appear as hexagonal frames on Twitter rather than circular ones.

It’s hinted that YouTube and Instagram may be gearing up next to explore and expand on the NFT bandwagon.

I wrote the above write-up in February of 2022, and it’s October 2022, and I’m here with the update.

In July, Reddit launched NFTs. They’re digital avatars that Reddit users can customize & set as profile pictures to stand out.

Here are some stats since the launch:

  • 3m wallets created. OpenSea (the top NFT marketplace) has ~2.3m wallets
  • 86k+ NFTs have been launched. 40k were bought at an initial price of $10-$100, and the rest were given out for free to top Reddit contributors
  • 85% unique holder ratio. Better than top NFT projects like Bored Ape Yacht club (64%) and Doodles (54%)
  • $100m+ market cap
  • Top 10 collections on OpenSea
  • Top Reddit NFTs are selling for ~7 ETH ($9500)

The funny thing is that 6 months ago Reddit was filled with NFT haters. Today, they all have NFTs as profile pictures and are chanting “WGMI” which means We’re Gonna Make It!

And it’s all because Reddit used a Trojan Horse – they “tricked” users into getting into NFTs, without them even realizing it.

Instead of calling them NFTs, Reddit calls them Collectible Avatars.

Instead of seed phrases & gas fees, Reddit provides a custody wallet (no seed phrases) and uses the Polygon blockchain (no fees).

Instead of paying with crypto, Reddit lets users pay with credit cards.

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