![blockchain wallet reddit blockchain wallet reddit](https://i.redd.it/j4uxhmayy6d21.png)
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But if millions of Reddit users start to collect tokens, then it’s easy to see how you might be able to sell Reddit “moons” for fractional shares of Bitcoin or Ethereum, or to cash out entirely and sell your Reddit tokens for cold, hard cash. The problem right now, though, is that you aren’t going to find a crypto exchange like Coinbase willing to list the Reddit tokens, because there is not yet a true market for them. Launching with r/cryptocurrency is so brilliant, because presumably, most of the people who check out this subreddit already have digital wallets for all of the other coins they have collected. In order for this to happen, people will need to first create a “ digital wallet” to house these coins (the same way you would with any other crypto), and then there will need to be a third-party crypto exchange where you can buy and sell these tokens. Here, users will be able to earn points by posting about FortNite Battle Royale, not simply by playing the video game, and then invest the money wherever they would like on the Reddit platform where these tokens are accepted.īut where things get really interesting is the potential to trade these Reddit tokens with other Reddit users, or even with people who are not on Reddit. This is different from earning in-game cash or rewards from video games and then reinvesting the money back into the video game. dollars, they will be paying with Reddit coins. In a base case scenario, Reddit users will then re-invest Reddit tokens they have earned back into the community, such as by buying up badges, emojis and GIFs. The more active they are, the more cryptocurrency they will earn, it’s as simple as that.
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The logic here is clear: Reddit users will have a new incentive to become more active within the community. Reddit users will earn tokens (called “moons”) by posting comments, engaging with the community, and finding new stories for Reddit users to upvote. And in the other case, it is targeting highly engaged video gamers who play FortNite Battle Royale. In one case, Reddit is targeting some of the biggest crypto enthusiasts on the planet. While Reddit is not rolling out the new crypto strategy to its entire base of 430 million monthly active users (MAUs), it is testing it with two of its most popular subreddits: r/cryptocurrency and r/FortNiteBR. A quick look at the new Reddit crypto plan If this strategy works, it could have huge implications for both mainstream media and social media. What Reddit is doing is rewarding loyal users with a new cryptocurrency that will run on the popular Ethereum blockchain as a way of building a more engaged and invested Reddit community. Nothing seems to be working, which is why a new approach from Reddit is potentially so interesting. In response, we’ve seen countless new advertising approaches and plenty of new subscription-based pay walls. For years, we’ve heard about the demise of mainstream media and the difficulty that online publications have had in attracting new advertisers and subscribers.