{"id":13208,"date":"2022-08-26T15:12:25","date_gmt":"2022-08-26T15:12:25","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/26\/reddits-ceo-explains-why-hes-still-big-on-the-blockchain\/"},"modified":"2022-08-26T15:12:27","modified_gmt":"2022-08-26T15:12:27","slug":"reddits-ceo-explains-why-hes-still-big-on-the-blockchain","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/26\/reddits-ceo-explains-why-hes-still-big-on-the-blockchain\/","title":{"rendered":"Reddit\u2019s CEO explains why he\u2019s still big on the blockchain"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/23323098\/reddit-steve-huffman-interview-blockchain-avatars<\/a>
\n
<\/br><\/code><\/p>\n

\n

Crypto critics have had a very good year. Much of what they predicted has come to pass: that high-profile projects would be revealed as Ponzi schemes<\/a>; that security lapses would lead to massive thefts<\/a>; and that average people would be left holding the bag<\/a>. Bitcoin, which was trading around $67,000 in November, is at $21,570 today; plenty of other cryptocurrencies are much worse off.<\/p>\n

As I noted here last month<\/a>, though, on social networks it can feel like the crypto crash really never happened. Over the past few months, Facebook<\/a> and Instagram<\/a> added ways for users to showcase non-fungible tokens, and Spotify let artists use NFTs as their profile pictures<\/a>.<\/p>\n

The origin of that piece was the news that Reddit<\/a>, the venerable social news aggregator and discussion site, had released its first \u201cblockchain-backed collectible avatars<\/a>\u201d \u2014 what other companies call NFTs. Created by a handful of artists, the avatars riff on Reddit\u2019s \u201cSnoo<\/a>\u201d alien mascot and can be used as profile pictures on the site.<\/p>\n

\n