Everybody has heard about the Reddit platform, some using it every day. So today we are talking about this platform and how it combines the crypto world and enthusiast and, what benefits come with it for its users.
What is Reddit?
Reddit is an American social media, web content rating, and discussion platform. It is an independent subsidiary of Condé Nast’s parent company, Advance Publications. It is free and its users submit content in the platform as links, text posts, pictures, and videos, which gather or not votes given by other members.
The site name is a combination of the words “I read it” and its popularity comes from the many people registered on it, but also for the guaranteed high-quality content. There will always be a certainty of the news that is published in other media and discussed there.
What is the connection between Reddit and crypto?
In 2021, Cryptocurrency was literally the most popular theme for Reddit. For over a decade, Reddit has become the home to over 500 cryptocurrency communities. As there are those big communities, its members participate in conversations and are there whether to help others, ask something or share different sides of projects so that people acknowledge more information before starting to invest.
Even though there are a lot of cryptocurrencies in the virtual space, users tend to talk more about the BIGGEST ones, such as Bitcoin or Ethereum, as they rise a lot in the past few months.
So, to give crypto enthusiasts some benefits for being active in this great community, Reddit immersed two years ago the idea of Ethereum-based crypto token rewards, and finally, the mass started to take into consideration this opportunity is more likely to even become a real thing.
How does that work?
Well, it is not hard at all. On the 8th of December, the site launched a new website for its Community Points beta program, a new one that continues the first try, and created a waitlist form, for users and moderators to request this feature for their community/subreddit.
Members earn Community Points by posting and engaging in discussions. The points will have values for each community and can be used to pay for new features or engage in community governance, or even better for some users, exchange them for other cryptocurrencies for an outside purpose.
So, it is an ambitious project launched by Reddit that it’s still rising, but as we are in a world full of possibilities, we can say that there is no doubt it will work. It’s implemented for a maximum of 4 subreddits now, but they are going to launch this Program on Arbitrum, maybe in the next year.
What do you think about incentives?
We think that is great that this will be a normal thing in the Reddit communities because everything must be earned. So, if you are there, and help others with advice or write about your experience and earn points, that is awesome. You work in a way or another for crypto.
Would you like that in the future, in our community on Reddit, to earn GeniuX Tokens as a reward for helping others and creating engagement? How does this sound? We might take it into consideration in the future.
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