Reddit to reportedly tokenize karma points and onboard 500M new users

November 6, 2021 | By | Reply | 130 Readers More


American social media giant Reddit may soon convert users’ karma points into Ethereum-based (ERC-20) tokens and onboard 500 million new crypto users in the process, according to a newly hired Reddit engineer.

A series of tweets made by Reddit engineer, Rahul, highlights Reddit’s efforts to improve user interaction through various cryptocurrency initiatives. As Cointelegraph reported in July 2021, the platform had launched its own layer-two rollup using Arbitrum technology for its rewards points, named Community Points. According to the website:

“Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin (BTC) !).”

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