Reddit is the latest social news site to jump to the NFT trend. According to the discussion network, 80,000 Redditors are currently testing a new blockchain system for the community.
Soon, the platform would allow users to convert the karma to points into tokens based on Ethereum.
Reddit NFT Platform
(Photo : Brett Jordan from Unsplash)
Reddit is one of the latest companies besides Twitter and Discord to venture into NFT. Here’s the full report about that.
According to a report by Notebook Check on Thursday, Nov.11, the community point system that is now undergoing a series of tests is made possible through the Arbitrum technology.
To improve its service to the community, Reddit decided to come up with an environment that will be immersed in cryptocurrency. The site will soon lead to the adoption of the digital assets that we usually see in other NFT-centered websites.
At the time of writing, there are about 500 million users who use Reddit regularly. It is expected that many of them would soon engage in blockchain activities, as per the now-deleted tweet from Rahul, a Reddit engineer.
Soon enough, we could potentially see the tokenizing of karma points for the huge community.
The announcement about its NFT venture was not a surprise anymore to those who remembered Reddit’s announcement about its Community Points. Earlier this year, the social news aggregation site said that it would unveil its Arbitrum-focused rollup to experiment with the system.
The Arbitrum network is responsible for allowing Ethereum smart contracts to take place through certain codes. According to Rahul, the 80,000 users from r/FortNiteBR and r/cryptocurrency subreddits are now testing how the gasless transaction would work upon launch.
The organization has been committed to bringing a new trend to the NFT craze since the gas…
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