Is Reddit the internet’s perfect platform for NFT talk? | Tech/Gadgets

Reddit previously launched a test allowing users to use an NFT as a profile picture. ― Shutterstock pic
Reddit previously launched a test allowing users to use an NFT as a profile picture. ― Shutterstock pic

SAN FRANCISCO, May 4 ― The NFT craze seems to be everywhere right now, leading to much discussion about these digital certificates on social media. And it’s a theme that’s visibly popular on Reddit. According to the platform, users of the social network appear to be the most at ease with the concept of NFTs, compared to users of other platforms

Reddit has unveiled an infographic on the topic of NFTs on the platform. According to Reddit Internal figures for 2021/2022, 85 per cent of Reddit users are more likely to be familiar with NFTs than the average internet user. A result that far exceeds users on Twitter, whose likelihood of knowing about NFTs stands at 39 per cent, or for users of Instagram (17 per cent) or Snapchat (6 per cent). Facebook users, meanwhile, have a negative score, at -6 per cent.

The topic of NFTs has generated a lot of conversation on Reddit — so much so that the total number of views on the r/nftsmarketplace subreddit has increased more than 300 times in the last six months. Mentions of NFTs have also increased more than 423 times over the same period. Some 42 per cent of users said they discovered and learned more about NFTs through Reddit. But friends are still the top source of information and discovery, accounting for 68 per cent of respondents, compared to 45 per cent for news. Meanwhile, 32 per cent of users turn to influencers to learn more about NFTs. Findings that led 44 per cent of Redditors to declare that the platform was the best source of NFT crypto news, community and education.

Men are more familiar with NFTs than women

According to the Reddit report, men are more comfortable with the topic of NFTs, at 54 per cent compared to 30 per cent for women. There are also differences between generations. In fact, 13-17 year olds are the most familiar with the trend, at 25 per cent, followed closely by 25-34 year olds at 24 per cent, and 18-24 year olds at 23 per cent. As for older generations, only 17 per cent of 35-49 year olds are familiar with NFTs, falling below 15 per cent for 50-64 year olds.

While the thirst for knowledge is undeniable among Reddit users, many now seem inclined to acquire NFTs. One in two users say they’re willing to buy an NFT from their favourite brand. Video games are the top sector of interest for NFT purchases at 45 per cent, ahead of tech at 39 per cent and media and entertainment at 36 per cent.

Despite the buzz on the platform, the topic of NFTs and crypto technology still remains confusing and unclear for 59 per cent of Reddit users. And 54 per cent of Reddit users are put off buying NFTs because of their cost. ― ETX Studio


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