RATE Group | Reddit to launch Ethereum-based tokens for cryptocurrency and Fortnite subreddits
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Reddit to launch Ethereum-based tokens for cryptocurrency and Fortnite subreddits

13 May Reddit to launch Ethereum-based tokens for cryptocurrency and Fortnite subreddits

Posted at 23:53h in Cryptocurrency News by

Reddit, the popular online forum, is beta testing two Ethereum-based tokens for users to earn rewards for contributing content, The Block has learned.

The two tokens, one named $MOONS and other $BRICKS, will be issued to members of the subreddits /r/Cryptocurrency and /r/FortniteBR, respectively, as part of Reddit’s new initiative called “Community Points.” 

“We continuously run experiments to explore features that engage our users and communities. With Community Points, we’re working exclusively with two communities to test this feature and gather feedback from our users,” a Reddit spokesperson told The Block. 

 

Reddit also now has a webpage that guides users to open ” Vault,” a new platform to manage these tokens. 

 

With Vault, users can view their tokens from multiple subreddits and claim and spend their points, according to a prompt on Reddit’s mobile app. 

 

Both tokens will be ERC-20 tokens issued on the Ethereum blockchain, and by creating Vault, users essentially…

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