Reddit Rolls Out Ethereum-Based Tokens For Subreddits
Plus bitcoin's correlation with the stock market goes back down
Happy Thursday, Blockfolians
Remember all those ideas from 2017 for loyalty tokens or tokens that would incentivize participation in a particular community? Well, Reddit has gone ahead and made them as real as we’ve seen.
Starting with r/Cryptocurrency and r/FortniteBR, Reddit has begun testing Ethereum-based reward tokens ($MOONS and $BRICKS respectively) that incentivize people to contribute content. Whether they’ll take off is anyone’s guest, but at least it’s an honest-to-god trial on one of the biggest social platforms on the web.
One of the funnier comments we saw came from MyCrypto’s Taylor Monahan.
In all seriousness, though, this should be a fun experiment to watch.
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Joseph makes an obvious but easy to forget point:
An (Impressively Small) Number We Should Be Paying Attention To
That’s the percentage of bitcoin transactions used for illicit purposes - far lower than the FUD might have you think.
Jill is not the only person in America having this thought right now.