Reddit Looks to Expand Ethereum Crypto Rewards to More Communities

Market Research

Dec 8

After picking Arbitrum to scale its Community Points program, Reddit is looking for the next subreddits to add to its list.

Reddit has launched a new website and waitlist for its Ethereum-based Community Points rewards program.

In July, the online discussion community picked Ethereum layer-2 scaling solution Arbitrum to grow the initiative.
“Community Points are the first step towards a different future for online communities,” Reddit’s site reads. “These tokens live on the blockchain, which means they are truly owned by the community. Over time, your community will benefit from even greater control and independence—on and off of Reddit.”
All told, there are more than 3 million subreddits today. Figuring out how to expand the program to reach more and more communities has been a multi-stage process for Reddit, which held a “Scaling Bake-Off” competition in August 2020 to find an Ethereum scaling solution. Ultimately, this past July, Reddit picked Ethereum layer-2 solution Arbitrum.
When Reddit will ultimately launch Community Points on Arbitrum and scale the program remains to be seen, but the waitlist is the first big step forward in months. Reddit is also working on building an NFT marketplace, if a detailed job listing from October is any indication.

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