 | If you haven't heard, Reddit is planning on going public as a company and is soon going to launch its IPO. For the last few years, Reddit has become increasingly ambitious at pushing innovation and figuring out the next step for social media platforms. There's been a lot of experiments, new tools, and new features on the site. (remember things like Rpan, Predictor games, talk features, r/place, etc...) And more recently, Reddit has been heavily investing its resources on things like Moons, other RCPs, NFTs, etc... A lot of early signs that Reddit is building a web 3.0 platform, and they aren't just settling to be a large social media platform, they are aiming to be the next step in social media. What does this Reddit future look like?They're looking to decentralize content creation, content ownership, and management. While also giving users more power, more say, and letting them own a piece of the sub. What are concrete evidence of this?You can see it first hand on this sub, with Moons finally going on mainnet. That means it's no longer an experiment, and they have figured out how to make it work. But they've also made a lot of key moves, like the more recent partnership with Polygon. You can even now see on Polygon's site, that it's one of their main new development that they've highlighted. Polygon website featuring its use on Reddit Why is Reddit significant? Is it really that influential as a site?Remember the whole GME sutff with Wallstreetbets? You tell me. Reddit has increasingly found its place at the center of social media, new memes, as the place where people are voicing their opinion, as the place where people are sharing media. It's also increasingly finding itself in mainstream media. And it's now popping up on my Netflix featured shows. We are the very first ones in this next step in the evolution of the technology of social media.Or at least the first ones in the experiment that's doing it correctly, and the one that may set the standard. Where Facebook has done it wrong, Reddit could come out on top and get it right. None of these ideas are really new. Steemit has done it years ago. Unfortunately, they did it completely backwards. They created the token first, promoted it more as an investment, then hoped there would be a Reddit-like major platform that would build itself around it. Reddit did it the other way. They built a successful and popular social media platform first, and then realized they could take the next step and build a social media token around it, focused more on utility. What solutions do features like Moons and social media tokens provide?They solve key problems of social media: -Rewarding content creators without having to rely on ads. -Attract independent content creators. -Increase engagement and participation. -Give users more of a voice in changing, fixing, and adding features to the sub, in a more decentralized way. -Give users a piece of ownership of the sub. -Decentralize content creation and ownership. -Reward management and moderation. What solutions do NFTs give to social media?-They give users ownership of media, in a way that can be traded. -They give users ownership of features like their avatars. -They give users an ownership tool for games and interactive features, like we've seen with moonplace. -They could be used as ticketing tools for events on the site. -They could become a new way of doing user's profiles, and decentralize user's unique profiles and account. Conclusion:It's becoming clear that Reddit wants to be at the very top of the next step in the evolution of social media with its web 3.0 bid, with Reddit Community Points like Moons, and with NFTs at the fore front of this campaign. And anyone who jumped in now on any of those, could potentially be an early adopter for the next step in the evolution of Reddit. Who knows, we may be featured in the next big documentary on Netflix. [link] [comments] |
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