Reddit non-fungible tokens (NFT) have dominated conversation in cryptocurrency markets this week after they generated $2.5 million in daily trade volume and prompted 3 million people to sign up for NFT wallets on the social media platform, Coinbase (COIN) said in a report Wednesday.
“Facebook, Instagram and Twitter all have NFT integrations, but those initiatives focus on ‘showing off’ NFTs purchased from marketplaces and adding your favorite as a profile picture,” however, Reddit’s NFT marketplace makes it a direct participant, the report said.
Reddit’s strategy also focuses more on its community as it gives extra features to NFT owners and supports creators, the note said. It is airdropping – or giving away – NFTs to the more active users on the platform.
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