Liam Herbst: Reddit is creating its own separate metaverse

A blockchain analyst against the backdrop of a record increase in the cost of NFT Reddit announced the likelihood of the company creating its own virtual universe.
According to Liam Herbst, Reddit's NFT avatars are tools, or rather Trojan horses, used by the company to develop the foundation of its virtual world. The analyst noted that the platform based on the popular Internet forum is, in fact, already a metaverse in the making. Each community functions as a virtual world with its own characteristics. Some of them are even integrated with encryption functions.

Herbst noted that back in 2020, the forum website implemented a cryptocurrency reward system known as Reddit Community Points. This feature allows each user to own a stake in their community. In addition, each community can generate points that can be given out as a reward to active members.

With Community Points, users can unlock exclusive features such as special memberships and tokenized content, use points to vote on important decisions, just like in a Decentralized Autonomous Organization (DAO). According to Herbst, Reddit avatars will help propel the Redditverse to new heights. This is especially true after Reddit decided back in August to give away free avatars to the top contributors to the platform:

“The scale of Free 2 Own is likely to turn Reddit users into owners of NFT avatars that reflect their unique interests. The usefulness and recognition of avatars will grow as they are adopted.”

According to the analyst, the growing interest in NFT Reddit will enable the company to more easily penetrate other ecosystems and connect with promising metaverses.

Microsoft recently announced that it intends to integrate its cloud products into the metaverse.