Reddit’s making some huge strides forward in pushing along adoption to their 330 million monthly active user base with the integration of the “vault” into their IOS and android apps. You have to be a member of the r/Cryptocurrency and contribute to earn their “moons” or r/fortniteBR to earn their “Bricks”.
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I’m always looking out for interesting developments for use cases of crypto. And the biggest one is mass adoption for the larger community. And when in terms of largeness, it really doesn’t get much larger than Reddit. What people don’t know about Reddit is that some 330 million people visit a month, people spend more time on Reddit than any of the other top 10 sites so longer than you think and even believe that YouTube and Facebook and Twitter and all these other sites, there’s such a diverse offering of topics on Reddit that you see a lot of people on there that are really engaged in their communities.
And as far as I can see, they’re technically minded, they’re smart, and you get a lot of really good content from going on Reddit. So The development that happened about a week ago is that within the cryptocurrency subreddit, and they also are doing one on a fortnight, I think are slash fortnight VR. But this one, through your contributions to the site, you’re going to be earning community points which are tied to the karma. And so there are measures in place to make sure that there’s not karma farms and that the votes are for good content and good comments and posts and that sort of thing. So what you’re learning was you’re earning our moons. And these moons are provided for you for free. Of course, you know, Reddit karma is just free internet points, in essence that show how serious you are about delivering good content to the platform to any of the subreddit communities.
So the way this is structured is they did an initial release of 50 million moons for people that have been on the subredditcommunity, it’s over a million people that are actively using it are slash cryptocurrency. And then essentially, that these moons give you the ability to get all sorts of badges and you can post animated gifts. can promote post emojis and the value is really being able to have a stake in the community. And so perceivably that would go up as the community starts to go up. So it’s like, in essence, you’re getting a little piece. And that’s the whole appeal of a dap or one of the D five projects is that if you have like a native token, then you benefit when the whole project gets traction. So if you look in your wallet, you can see that for, you know, select accounts that are members of that community, you go to vault, and you just set up with your profile. And then you get a password that you can either store off the application or within the application. And then yeah, and then it you’re awarded moons. And with those moons, you can get badges and you get colors for your username comments, emojis and here’s kind of how it looks. It’s kind of a cool way to go.
And I like a little bit of a visual components for red and beyond. Posting just the title, image, and of course, loyalty badges that give some gravitas to what you’re saying in the subreddit post. Because a lot of times it’ll be someone new that is doing the trolling, you know, they have a regular account and they have a troll account the troll account, well, if this rate someone they felt slighted them or they think is funny to look for some kickback on an idea that’s being discussed. So, all these are kind of cool to have. And I think it’s kind of an interesting use case for the long term because as it stands, there’s publish0x, there’s all these micro blogging platforms that give people a chance to express their ideas, much as they were able to do in the early days of steam it and then get some actual value, you know, earn a few bucks in crypto being tipped by people on just because of engagement and people wanting to read more content, but in essence it’s back to the use case of providing more value with the microblogging. I mean, think what? With Patreon, it’s nice to support interact directly with your people that you follow on YouTube or you follow their fanfiction or drawings.
But any sort of innovative case that the platform’s equity itself incentivizes people, rather than having people having to pay out of their pocket for Patreon, I think is a more sustainable long term, prospect. But for creators, you know, they’ll have these tokens and they can sell if you’ll remember PewDiePie jumped over to lose em live. And you can use it a little tokens to sell and he was doing really well with tokens because on that platform, they just give you like a little box and the box itself you would press and then it would give you a certain amount of these coins, and each coin be worth like a penny or a 10th of a penny. But if it adds up to millions of these little coins. Continued…
This is not financial advice, i’m not a financial advisor. these markets are extremely volatile, please do your own research, and trade responsibly.
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