• Reddit now supports Ethereum NFTs

  • Reddit, the world’s largest social network, has integrated ethereum-based NFTs into its platform.

    Four NFTs (shown above) were sold for up to $400,000 each to be used as avatars on the Reddit platform.

    You are not permitted to use your own NFT as an avatar. If you don’t have one of the four, you’ll have to make do with a random jpeg.

    The extremely limited number of NFTs available suggests that this is most likely just a preliminary test to see how integrating NFTs might work on Reddit.

    This can easily be expanded by allowing people to mint their own avatar NFTs as a sale or simply as a function.

    Alternatively, after connecting with Metamask as required by the platform, you can use any NFT you have.

    Their purpose is then to simply display them on your profile page, which they may be attempting to make more prominent in the new Reddit design.

    It could also be a ploy to entice users to switch from the old Reddit design, which is still very popular, to the new one.

    Twitter has also attempted to integrate NFTs as a profile picture, though it’s unclear how that went because we haven’t seen many of them in the wild here at Trustnodes.

    There are privacy problems, particularly if the user’s ethereum address is shown, as Twitter does, because you might potentially see someone’s wealth and financial behavior.

    At scale, this may all be graphed to de-pseudonymize blockchain addresses, necessitating substantial caution in execution to avoid effectively open sourcing your bank account.

    This is a problem that OpenSea does not have because the blockchain address serves as both the username and the account.

    Reddit and Twitter can also support blockchain accounts, with the user able to give it a nickname if they choose, unless they are comfortable with their ethereum address being linked to their real name.

    Thus, both Reddit and Twitter are likely to be sluggish to integrate NFTs, but this new invention has now become common enough for both to experiment with them.

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