Is Reddit Heading For the Metaverse After Its Collectible Avatars Surge?

Is Reddit secretly building its own metaverse?

Shortly after Reddit Avatar prices surged to a record high on Tuesday, NFT collector and analyst Liam Herbst took to Twitter to share why metaverse could be the next stop for the internet giant.

https://twitter.com/liamherbst_/status/1585098624324681728

In a lengthy thread on Twitter, Herbst made a bold statement claiming that Reddit is actually “building a metaverse empire” and its NFT Avatars are tools, or rather, “Trojan Horses” used by the company to develop the foundation of its virtual world.

According to the analyst, the forum-based platform is, in fact, a metaverse in the making. Each subreddit functions like a mini virtual world, featuring its own identity and community. On top of that, some of them are even integrated with crypto functionality.

NFT Avatars to help propel the “Redditverse”

Collaboration with other ecosystems With a growing appetite for Reddit Avatars, it will be easier for the company to infiltrate other ecosystems as it teams up with promising projects in the space.

Previously, the social media giant collaborated with Riot Games to create limited-edition avatars. There are rumors too that Reddit is striking a partnership with The Sandbox.

Source: https://en.ethereumworldnews.com/is-reddit-heading-for-the-metaverse-after-its-nft-collectibles-surge/