After the recent rush of Reddit NFT PFPs I started to think about how much of an opportunity that could become for ENS. It’s literally a blank slate of ~2.5 million(currently) wallets and users that could be brought onboard as of right now. If I remember correctly ENS has like 80% of unique users compared to the other name services.
Ethereum has approximately 500k of daily users or active addresses which is just about a 1:1 ratio compared to unique ENS addresses. Reddits unique daily users is approximately 52 million.
Reddit just launched their NFT marketplace in July and already has more users than OpenSea and others combined. They recently just launched a new marketing campaign with new partners. Press Release
They are also integrating a system that subreddit communities will be able mint their own tokens specific too that community for rewards distribution. Which widens the playing field for ENS users as well as sub domains.
And then there is this, reddits native token ‘Moons’ which has a max supply of 250,000,000.
You know Partnerships are my bread and butter and I love tinkering about them so I had to comment.
Besides putting a spotlight on Reddit here, I’m not really sure what is the basis for the partnership you’re proposing with them.
I haven’t done a ton of research into what Reddit has been doing but I can make some assumptions based on what I know from both the web3 and web2 world.
Reddit has a lot of users, too many, and too wide demographics to put under one profile. Therefore, if I had to guess, when it comes to integrating something like a Naming service, I’d say that Reddit is far more likely to integrate some third-party provider that offers a Wallet-as-a-Service solution and take full advantage of Account Abstraction and Smart Accounts. This way they can provide a wallet for all of their users, regardless if they are tech/crypto-savvy or not, and if they have a wallet or not because Reddit can automatically give them one. Assuming, since they provide wallet infrastructure APIs, they will include the naming service system as well.
So in my opinion, if we really want to make a gigabrain move, it’d be best to identify those who are working on wallet-as-a-service solutions and integrate with them.
One who is working on something like this is Coinbase with their Coinbase Cloud services and API and tools for developers they’ve been building and recently announced – CB wallet as a service.
I’ve only found out about this recently so I’d have to look deeper into it and see if I got this right and all of this makes sense but I’m pretty sure it does.
