Reddit is killing blockchain-based Community Points

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.

Omega_Haxors,

And the crooks responsible for it will be laughing all the way to the bank.

Sarsaparilla,
@Sarsaparilla@kbin.social avatar

lol oh no ... so what are they gonna give me for my 400 odd Fortnite Bricks, then? 💸

Seraph,
@Seraph@kbin.social avatar

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.

lvxferre,
@lvxferre@lemmy.ml avatar

In another context this decision would be sensible, as Reddit is not in a position to make money out of this.

In this context however it sounds a lot like “wah, the admins took something else from us”.

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