Reddit jumps into Loot Tokens with new cryptocurrency on Ethereum

What Happened?

Reddit launched two new types of loot token (a token on the Ethereum blockchain that is earnable within a community rather than purchased) in their /r/Cryptocurrency and /r/FortniteBR subreddits, and in turn signaled their plan to pivot the company’s monetization more towards crypto.

What are the two loot tokens called?

Where can I access these loot tokens?

How do I earn these loot tokens?

What can I do with these loot token?

By definition the Community Points Program issues a type of loot token on the Ethereum blockchain, which means you can both earn it in the community, and redeem it in the community.

What’s the economic model of the tokens?

The economic model has three key points:

  1. The number of tokens issued diminishes over time, and can only be earned from human effort. All future human effort earns less tokens than all prior human effort.
  2. There is a hard cap of 250M tokens in a subreddit. There will never be more than 250M $MOON tokens.
  3. Every time $MOON tokens are used to buy badges, memberships or for any other action on Reddit, they are burned. (This means destroyed in blockchain speak!)

What else can I do with these tokens?

Because Moons and Bricks are both ERC20 tokens on the Ethereum blockchain, you can do whatever you want with them.

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Adam Cochran

Adam Cochran

Partner@Cinneamhain Ventures, Privacy Advocate, Adjunct Professor, and Growth&CorpDev Strategy at DuckDuckGo.com