The favored discussion board and information aggregation internet portal Reddit has revealed the agency’s Group Factors beta program the place Reddit customers can “personal a bit” of their group with “customized tokens” for subreddits.
Blockchain-Backed Reddit Group Factors: ‘The First Step In direction of a Completely different Future for On-line Communities’
On the finish of July, Reddit introduced that the platform’s Group Factors system would leverage the Layer 2 (L2) protocol Arbitrum. This week, Reddit revealed a brand new web site that options the Group Factors beta program, which says that Reddit patrons will have the ability to leverage native crypto property tethered to distinctive subreddits. On the time of writing, there’s a waitlist and customers can sign-up through a type Reddit created.
“Group Factors are step one in direction of a unique future for on-line communities,” Reddit’s description of the brand new beta program notes. “These tokens reside on the blockchain, which suggests they’re really owned by the group. Over time, your group will profit from even better management and independence… on and off of Reddit.”
Reddit says that customers can “Earn one thing priceless for all of the hours you place into your group, [and] unlock particular options.” Redditors can “purchase group options with Group Factors, like particular memberships and awards, [and] encourage higher content material and dialog,” the corporate particulars. Moreover, Redditors can use polls and methods to determine the Group Factors distribution course of. Reddit’s web site provides:
Every subreddit creates its personal Group Factors token, with a customized identify and image.
Cryptocurrency Subreddit Likes the Group Factors Idea, Most Widespread Bitcoin Subreddit Could Not Be Too Keen on Ethereum-Based mostly Subreddit Tokens
As well as, Reddit says that folks can “personal” their status because the factors system will probably be a “measure of status” in a sure group. “Within the subreddit, they’re displayed subsequent to usernames, so the most important contributors stand out from the group,” Reddit explains. Group Factors have been mentioned in particular boards just like the subreddit r/cryptocurrency and a large number of the subreddit’s subscribers appreciated the thought.
It is going to be attention-grabbing to see whether or not or not r/bitcoin implements a Group Factors token as discussions of different crypto property are banned from that subreddit. Furthermore, many r/bitcoin subscribers usually are not too keen on the blockchain Ethereum so utilizing it for a Group Factors system could possibly be thought of hypocritical. It’s secure to say that many different crypto and non-crypto-related boards on Reddit will doubtless haven’t any points utilizing the Ethereum-based Group Factors program.
What do you concentrate on Reddit introducing the brand new Group Factors program the place subreddits will have the ability to create their very own customized tokens? Tell us what you concentrate on this topic in the feedback part under.
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