Reddit, which is still dealing with the fallout from its last controversial decision, said it plans to phase out coins and awards.

Reddit enrages users again by ditching thank-you coins and awards::Reddit, which is still dealing with the fallout from its last controversial decision, said it plans to phase out coins and awards.

  • skillissuer@lemmy.worldEnglish
    191·
    1 year ago

    how much is anyone’s betting that it will involve crypto in some way? i raise you a very fine 6mm dia 1m long aluminum tube

      • Odo@lemmy.worldEnglish
        7·
        1 year ago

        Reddit already has NFT avatars. Adding them for awards would make sense with that recent story about letting users make money from their awards. Bleh.

        • skillissuer@lemmy.worldEnglish
          4·
          1 year ago

          imo it’ll turn out to be more like another karma counter, especially after crypto they will be paid in craters (because no way it’ll involve real money)

    • HakFoo@lemmy.sdf.orgEnglish
      6·
      1 year ago

      It’s the obvious answer, but I wonder if it would implode in their face in some interesting ways.

      Reddit has been the epicenter of a lot of crypto communities over the years. They’ve been there for plenty of projects to rise and fall, and most importantly, the wholesale evolution of the market. The remaining crypto market is not a place where you can hope to launch a new, lasting project on hope, enthusiasm, or promises of future utility. For anything outside a few very narrow cases (actual CBDC or related projects), the announcement of a new project is little more than starting the count-down to the inevitable rug-pull, technical collapse, or financial meltdown. All this is documented in huge detail across their communities.

      Launching a new crypto-based product in 2023+ would be like Airbus saying “we’re going all in on propeller triplanes.” It’s sketchy, and they have full knowledge that it’s sketchy. I sort of wonder what promises and stories they’ve tossed towards their existing investors, who I imagine are frantically Googling the phrase “breach of fiduciary duty” already.