Reddit now supports Ethereum NFTs
Reddit, the world’s largest social network, has integrated Ethereum-based NFTs onto its platform.
Four NFTs were auctioned for up to $400,000 apiece to be used as Reddit avatars. You are not permitted to use your own NFT as an avatar. If none of the four are available, you must use a provided jpeg.
Due to the scarcity of accessible NFTs, this is almost certainly only an early test to see how well NFT integration may function on Reddit.
This may easily be extended by enabling anyone to mint their own avatar NFTs, either for sale or just for the sake of performing a function.
Alternatively, you may utilize whatever NFT you have after connecting to Metamask in accordance with the platform’s requirements.
Their purpose is then to appear on your profile page, which they may be attempting to make more visible with the new Reddit design.
It might also be a ploy to get users to migrate from the old Reddit design, which remains quite popular, to the new one.
Twitter has also attempted to incorporate NFTs as a profile image, however, the results are unclear since we haven’t seen many in the wild here at Trustnodes.
There are privacy issues, particularly if the user’s Ethereum address is shown, as Twitter does since this allows for the possible visibility of someone’s wealth and financial behavior.
At scale, this can all be graphed to de-pseudonymize blockchain addresses, but it will need some caution in execution to avoid effectively open-sourcing your bank account.
This is an issue that OpenSea avoids since the blockchain address serves as both the username and the account.
Reddit and Twitter may also support blockchain accounts, which the user can name if they like unless they are okay with their Ethereum address being associated with their actual identity.
Thus, both Reddit and Twitter are undoubtedly taking their time incorporating NFTs, but this novel technology has gained enough traction for both to experiment.