147
Reddit’s blockchain-based “Community Points” tokens crash after sunsetting (arstechnica.com)
submitted 1 year ago* (last edited 1 year ago) by ijeff to c/reddit
14 comments fedilink hide all child comments
  • Reddit is discontinuing its blockchain-based Community Points system, affecting tokens like MOON, BRICK, and DONUT used in specific subreddits for tipping and premium features.
  • The announcement led to a drastic decline in the value of these tokens, with MOON losing more than 85% of its value shortly after the news.
  • Reddit cited scalability issues and regulatory concerns as reasons for the discontinuation, shifting focus to its newer Contributor Program that rewards users with actual money.
  • After November 8, Community Points will be removed from users' Vaults, and any remaining points will be "burned" by year-end; however, Reddit's NFT marketplace will remain operational.
you are viewing a single comment's thread
view the rest of the comments
[-] Rentlar@lemmy.ca 13 points 1 year ago

Lol this is why I wouldn't trust a marketplace with Redditcorp (and spez) in control.

this post was submitted on 18 Oct 2023
147 points (98.0% liked)

Reddit

453 readers
1 users here now

This is a place to discuss everything related to Reddit, including recent executive decisions impacting accessibility and other problematic leadership.

Memes are allowed.

Rules

  1. Stay on topic: All posts should be related to Reddit.
  2. Respectful discussions: Treat fellow community members with respect and engage in constructive discussions. Avoid personal attacks, harassment, or offensive language.
  3. No spam or self-promotion: Do not post spam or self-promotional content. This includes links to personal websites, blogs, or products/services.
  4. No illegal content: Do not share or discuss illegal content, including piracy, hacking, or copyright infringement.
  5. No misinformation: Avoid spreading false or misleading information.
  6. No inappropriate content: Do not post or link to any inappropriate or NSFW (Not Safe for Work) content.

founded 1 year ago
MODERATORS
ijeff