Reddit is winning Web 3 space; Here is what’s different about Reddi’t strategy

Reddit is winning (3m wallets, 99% unique, $100m market cap)

A few things that set Reddit’s web3 strategy apart from its peers, and some suggestions for moving forward:

Native Integration

Unlike Twitter/TikTok, who released NFTs on separate platforms, Reddit launched wallets for users and facilitated minting/customizing directly in-app

Web3 Abstraction

There’s little to no mention of crypto lingo in the Reddit UX

NFTs -> Collectibles
Wallets -> Vaults
Tokens -> Coins

this was smart and must be tied to the huge increase in new wallets from noobs

EVM Composability

Instead of launching a protocol (Libra, Bluesky), Reddit ran several experiments and chose Polygon (EVM) instead. This has massively paid off:

– Instant secondary market via OpenSea
– Showcases well on other platforms
– web3 tool interoperability/exit

BROAD Distribution

Forget 10k maximums, Reddit Avatars are currently ~3m pieces with more to come.

This ignores the floor framework, making some avatars worth almost nothing, while the super rare ones keep increasing in value.

Let everyone play, add rarity, get magic

additional things I would work on next if I was Reddit:

– Connect-to-Reddit wallet feature
– DAO features for subreddits
– NFT posts

Adding all the important resources and thought pieces on this topic here. What did I miss?

https://app.yup.io/collections/Reddit’s%20Web3%20Strategy/73uyCZe

Follow: @nir_III

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