Read all about it at the above link. There’s way too much to process here. This is going to be wild.

  • illi@lemm.ee
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    1 year ago

    Community Points represent a way for Redditors to own a piece of their favorite communities. […] They can even be used in custom tools outside of Reddit and on other platforms.

    How the fuck would this work, I wonder? I tried to read through some but it makes little sense to me. It sounds like putting karma on blockchain and making it into a currency acting as reddit gold.

    Rest is just regular cryptobro talk formulated so that Reddit looks like it cares about communities - or am I missing something?

    • Cheshire@feddit.de
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      1 year ago

      I don’t think you’re missing anything.

      It’s just tradable karma on the blockchain.

    • Stumblinbear@pawb.social
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      1 year ago

      Community points have been used on the cryptocurrency subreddit for years, now, called Moons. They’re fine I guess. You can withdrawal them relatively easily and do whatever with them. They’re given out based on up votes

      • illi@lemm.ee
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        1 year ago

        So you can basically cash out if I understad you correctly?

        • Stumblinbear@pawb.social
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          1 year ago

          Pretty much. You can use them to get additional rewards in the community and/or withdrawal them out to the Ethereum blockchain if you want to. Could even sell them if anyone would bother to buy

          • Ganrokh@lemmy.world
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            1 year ago

            Small correction: They’re Arbitrum Nova tokens, not ETH tokens anymore.

            Greatly saves on gas fees, but Arbitrum Nova has narrower support.

            Kraken just added support for Moons and Bricks, so the methods of cashing out are becoming easier.

          • audaxdreik@pawb.social
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            1 year ago

            God, but that just seems like the worst. The fun of karma was that it was worthless but hey, a lot of us liked seeing big number go up and that was fulfilling in itself. Now people are going to be incentived to post for the sake of posting to try to earn something. Low effort, contentious, engagement driving spam.

    • beebarfbadger@lemmy.world
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      1 year ago

      “We made reddit blockchain crypto NFT … things!”

      “Great, what do they do?”

      “Good things! You like good things, right? Think of a good thing. It does that! You’d be too stupid to understand the complicated complexities of the details. Give us your money now.”