Although Pali Bhat impressed Reddit CEO Steve Huffman during interviews to become the company’s first chief product officer last year, Huffman told Fast Company that he had been concerned that Pali hadn't worked on something like Reddit before. Reddit described the new CPO role in part as leading and facilitating the creation of tools and features that bring community and a sense of belonging to Reddit, and Google, where Pali was former vice president of product and design at Google Cloud, was a different kind of consumer internet.
Bhat’s experience was with developer tools at Google, and Reddit is a community of niche communities, called subreddits, that focus on narrowly but deeply on hundreds of thousands of topics.
Bhat was hired anyway and already has proven he gets Reddit pretty well.
Read more: Presenting CoinDesk's Most Influential 2022
In October, less than a year after he took the job, Bhat announced that 2.5 million users have opened Reddit Vault Wallets since July, when Reddit launched its non-fungible token (NFT) marketplace. Meanwhile, the leading NFT marketplace, four-year-old OpenSea, has about 2.3 million users in total.
It is a big victory for Reddit. In late October, Spooky Season, created by Reddit user poieeeyee as a part of the Collectible Avatars Creator Program, had a trading volume of 538 ether (ETH) over several hours, just behind the blue chip NFT collection Bored Ape Yacht Club at 642 ETH at that time. Reddit NFTs have brought in over $11 million to date, according to data from blockchain data platform Dune Analytics.
Reddit’s NFT success is even more remarkable given that it has taken place during crypto winter. The NFT market overall has dropped 97% in total sales volume from its January 2022 peak. Reddit's success highlights the potential for NFTs, outperforming NFT initiatives from social media platforms like Twitter and Instagram, according to a report by Coinbase.
Now that Bhat has proven spectacularly that he can get Redditors over the first hurdle of buying and selling NFTs by opening wallets, he faces the same challenge as other NFT marketplaces: keeping them engaged, and buying.
With that approach in mind, let's look at the main factors that make Palo Alto Networks (NASDAQ: PANW) an attractive stock for investors willing to take on some risk in exchange for potentially market-thumping returns through 2023 and beyond. Many tech companies are cutting back on their spending budgets today as economic growth rates slow.
The 26-year-old president of Jump Crypto heads a DeFi juggernaut that’s building key infrastructure and cross-chain bridges, and investing in layer1 blockchains. For running on all cylinders in a year of crypto reckoning, Kanav Kariya is one of CoinDesk’s Most Influential 2022.
Amid a wider crypto market recovery, metaverse and NFT-related tokens in Apecoin, AXS, Sandbox, and others are benefitting the most.
Born in the depths of the pandemic, the Vayner3 consultancy has guided many of the biggest mainstream companies into Web3. That’s why Avery Akkineni and Gary Vaynerchuk are two of CoinDesk’s Most Influential 2022.
The generative artist raised $17 million in September before his QQL collection was even minted, a highlight amid the NFT market downturn. That’s why Tyler Hobbs is one of CoinDesk’s Most Influential 2022.
While most of Wall Street focuses on the next few quarters, smart investors know that the best returns accrue over many years. It takes time for companies to build and capitalize on enduring competitive advantages, after all. With that in mind, let's look at two growth stocks that were dragged down along with the wider market in 2022.
A calligraphy artist, Sarah Richardson (who works under the name Sarah Script) had been making Instagram videos of her work for roughly seven years before learning about non-fungible tokens (NFT). The work can be tedious, but Richardson found it lends itself to the NFT format. “I would love to see more calligraphy as NFTs,” said the bespectacled Arkansas native, who now lives in Brooklyn, New York, “because I think it certainly has a place.”
Yuga Labs has grown beyond the wild success of its Bored Ape Yacht Club collection to become an NFT powerhouse with a $4 billion valuation and big plans in the metaverse. That’s why Wylie Aronow, Greg Solano and Nicole Muniz are three of CoinDesk’s Most Influential 2022.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is…
The co-founder of $5.9 billion gaming giant Animoca Brands has made the development of a single, connected virtual world where users can interact across platforms the cornerstone of his investment strategy. That’s why Yat Siu is one of CoinDesk’s Most Influential 2022.
Profile on rosary makers group at Queen of Heaven Catholic Church in Green
Having dinner at a steakhouse is a treat, no bones about it. Whether it's for a high-powered business meeting or to celebrate a birthday or anniversary, the meal you'll get at a steakhouse may be the best thing you eat all year. But that's only true in terms of taste, your glamorous steakhouse experience may have some secrets you aren't aware of.In terms of cost, a steakhouse dinner can leave you feeling like your bank account got a bit overcooked. In terms of fat and salt, a steakhouse dinner c
The total value locked on the Solana network reached billions of dollars, based in part on sham protocols by two brothers working under multiple aliases. For showing how divorced TVL can be from the truth, Ian and Dylan Macalinao share a spot on CoinDesk’s Most Influential 2022.
This year alone, Nike, Starbucks, Reddit and many other consumer-focused brands have chosen to partner with Polygon Studios to create their Web3 experiences. That’s why Polygon Studios CEO Ryan Wyatt is one of CoinDesk’s Most Influential 2022.
This pseudonymous Twitter sleuth’s viral exposés of on-chain fraud and wrongdoing helped lead French authorities to arrest a crime ring that stole $2.5 million in Bored Ape Yacht Club NFTs. That’s why ZachXBT is one of CoinDesk’s Most Influential 2022.
The chief bankruptcy judge of the Southern District of New York is learning on the job how crypto complicates bankruptcy law. He already has his hands full with Celsius Network, but his caseload could get even bigger in 2023. That’s why Martin Glenn is one of CoinDesk’s Most Influential 2022.
Following his breakout year as an NFT artist, this 19-year old sold a generative art collection of "paint drop" NFTs for $20 million. That’s why FEWOCiOUS is one of CoinDesk’s Most Influential 2022.
See how Vail really comes to life when the slopes empty out and the town fills up.
Venture capitalist Chamath Palihapitiya said reporters did not do their job in investigating FTX founder Sam Bankman-Fried before its collapse on a recent episode of the All-In podcast, whilst some of his other podcast hosts disagreed, saying it was also a failure of regulators and FTX’s VC investors.
Musk's erratic behavior does not bode well for the future of free speech on social media
