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Reddit officially shuts down NFT wallets, mainstream platforms collectively cool down
【ChainNews】Reddit officially announces its exit from the NFT track. According to Unfungible co-founder Sharbel, this social giant has shut down its in-app digital asset wallet Vault and removed the feature that allows users to view others’ NFT collections.
What does this move signify? It’s worth noting that Reddit previously launched limited edition avatar series during the NFT boom, which was quite popular within the community. Now, this full retreat reflects the difficulties NFTs have faced in mainstream applications over the years—after market enthusiasm cooled, the demand from ordinary users also declined.
From Coinbase halting its NFT marketplace, to OpenSea’s business adjustments, and now Reddit, major platforms are one after another optimizing their NFT strategies. This may be a hint that the future of NFTs might require more professional infrastructure and clearer application scenarios, rather than being treated as an add-on for traffic.