Reddit’s new Ethereum (ETH) token for Fortnite players
Acceptance of crypto seems to be much higher in the Fortnite community than in Reddit’s own cryptocurrency community.
Reddit ETH token for Fortnite players
Online community platform Reddit last week launched two new Ethereum tokens for certain online communities as part of a pilot project to test a new user-generated reward system based on cryptocurrencies.
Reddit hopes that the crypto asset will eventually replace or eventually supplement the karma system by encouraging even more quality content and moderation through rewards that have real value.
A token, called Moons, has been specially designed for the crypto community. The other, which is even more popular, is called Bricks and focuses on the popular online video game Fortnite.
According to the recent Reddit Points Tracker launched by DappRadar, the two communities have a comparable number of users, but Fortnite fans have saved 9,246 wallets for their Bricks tokens. In contrast, cryptocurrency subscribers only registered 2,205 wallets for their Moons tokens.
Reddit community points are tokens based on the Ethereum blockchain and are a reward / loyalty system aimed at encouraging user engagement.
Reddit users can give their community points, give them and transfer them between users. Or use them to access exclusive community features such as badges, individual emojis and GIFs in the comments.
Some Reddit users have already announced the launch of a decentralized autonomous organization (DAO) dedicated to the new Reddit cryptocurrencies. A DAO is a way to organize a group of people with a common goal, using blockchain as a way to coordinate what to do and make money.
“A DAO is like a club with a shared bank account, in which power is shared among all members in the form of shares that act as voting rights. We have a CAD on the same network as MOONS & BRICKS, and everyone is welcome to play with us and find out what we want to do, ”said the announcement.
DAOs are under construction in the Ethereum ecosystem. They are used to provide funds for building new projects or to decide how to spend a marketing budget.