this post was submitted on 17 Oct 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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Reddit is killing blockchain-based Community Points (techcrunch.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Reddit is sunsetting its blockchain-based Community Points product, the company announced on Tuesday. A Reddit admin (employee) shared the announcement about Community Points, which uses the Ethereum blockchain, on a few subreddits, including r/CryptoCurrency (which had its own “moons” crypto token), r/FortniteBR (which had its own “bricks” token), and r/EthTrader (which had its own “donuts” token).

The value of those tokens has, predictably, fallen off of a cliff, as CoinDesk reports drops of between 60 and 90 percent.

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[–] [email protected] 27 points 1 year ago* (last edited 1 year ago)

You guys know they had to retire this, right? It would compete with their new "I'm going to pay for content" model.

Wanna know how that new system will go? Check this thread you're in now.