Widespread social media community Reddit is rolling out a waitlist for customers and moderators to take part in its increasing Ethereum-based Group Factors program.
Based on its website, this system would permit members of eligible subreddits to earn repute factors and personal a chunk of their favourite group through personalized crypto tokens constructed on the Ethereum blockchain.
“Group Factors are step one in the direction of a distinct future for on-line communities.
These tokens stay on the blockchain, which suggests they’re really owned by the group.
Over time, your group will profit from even higher management and independence on – and off of Reddit.”
Reddit customers can earn factors by collaborating in discussions, successful group contests, and posting high quality content material.
Redditors can use the factors they’ve earned to partake in a subreddit’s decision-making course of, pay tricks to content material creators, and unlock particular membership options.
Based on Reddit, it is a approach for customers to build up worth for the effort and time put into subreddits.
“Earn one thing priceless for all of the hours you set into your group.
Group Factors are a approach for Redditors to personal a chunk of their favourite communities.
Moderators and content material creators earn factors by contributing to the group, and so they can spend their factors on particular options, show their factors as repute locally, and vote with their factors to weigh in on group choices.”
The launching of the waitlist comes after the social information titan introduced earlier this 12 months that it might be partnering up with the Ethereum Basis to incorporate the highest altcoin into Reddit.
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