“Reddit launched NFTs. Notably, the term “NFT” is never mentioned,” shared one observant maker on Twitter (link added by us).
The company introduced its “blockchain-backed Collectible avatars” back in June, giving some away for free to its most avid users, and making them available for purchase by others. The NFTs are stored and managed in your Vault on Reddit and can be traded on marketplaces like OpenSea and SuperRare.
Despite skirting the buzzword, Reddit didn’t skip out on some NFT criticism and “backlash to the idea of additional DRM [digital rights management], how they play into the greater fool theory described by Bill Gates, and what blockchain energy use means for the environment,” writes Richard Lawler at the Verge.
Still, despite critics becoming increasingly vocal, the concept persists. Sure, some of these moments might elicit cringe — not everyone was impressed by Eminem and Snoop Dog’s weekend MTV VMA performance in the metaverse as their Bored Ape alter egos. Ironically, maybe part of the problem lies in the speedy path NFTs have had into the mainstream, with celebrity endorsements and over-hyped projects leaving new investors victim to scams. The mere mention of NFTs elicit eye rolls, but can makers change the conversation?
The question is whether a re-brand of NFTs and a low-profile on-ramping into “digital collectibles” on major platforms is a better go-to-market strategy. Meta is working a similar angle. It launched its own “digital collectibles” on Facebook and Instagram. The feature lets users connect their digital wallets to their accounts so they can post their NFTs across their profiles. Twitter added a similar feature at the start of the year.
TechCrunch coverage notes that “app sleuths have noted that [Meta] is also working on custom animations for NFT posts and digital collectible collections.”
So the bad news for “right-clickers” — NFTs aren’t going anywhere anytime soon. Just don’t call it an NFT.
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Burnout Index is now available in Spanish and Portuguese, and places you on the Mental Zone matrix to assess whether you’re in the burned-out; bored-out; strained; or engaged mental state.
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Numbers Search Engine is like Google for NFTs. It uses reverse-image search and AI to allow any NFT info to be found.
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