reddit tokenize karma onboard 500m new


Gamification refers to the application of game-design elements, mechanics, and principles in non-game contexts. Gamification motivates and stimulates people to undertake the tasks effectively.

Gamification would play a pivotal role in enhancing user retention and community engagement. The gamification techniques coupled with the incentivization schemes would definitely prove to be a miracle for the governance, community management, and sustainability of the DAOs.

It would boost the motivation of the DAO members for productive and consistent participation in the protocol governance.

They are virtual goods with no intrinsic value which can be used to award exemplary posts or comments. They serve as an effective incentive for deserving content creators.

The users can get Reddit coins by commenting on posts, sharing links, or answering questions posed to them.

The coins can be traded for karma points. They can also be given to any other Reddit user for their helpful or insightful content.
Reddit coins do not expire, they stay in the account until the user awards them to someone.

A content creator can get Reddit coins if he is awarded Gold or Platinum. Reddit coins can also be bought. The coins also come with a Reddit premium subscription.

Reddit Awards

Providing virtual rewards is a salient technique of gamification.

They would be eager to share constructive measures for the platform.Gamification in Reddit

Reddit sets an example for the DAOs by a sagacious use of gamification techniques.

In this section, we would observe how Reddit uses gamification techniques and how the DAOs can take inspiration from them and implement such mechanisms in order to enhance their user base, increase engagement and incentivize the community.

Karma Points

Somewhat similar to scoring points in the Video Games, karma points are awarded to the users for posting comments and submission of links and posts which attract more upvotes.

According to Reddit, Karma points reflect how much good the user has done for the Reddit community. These points are visible next to the username.

Community Points – Crypto awards in Reddit!

Reddit first introduced crypto token rewards in December 2019, when it launched “Donuts” which was an Ethereum-based token reward in the r/Ethtrader subreddit. Thereafter, in May 2020, the platform expanded the reward program onto the r/Cryptocurrency subreddit with “Moons” and r/FortniteBR with “Bricks” on an Ethereum testnet. Now, Reddit is planning to add this crypto reward feature to all the subreddits as an optional addition.

Reddit may soon convert users’ karma points into Ethereum-based (ERC-20) tokens and onboard 500 million new crypto users in the process, according to a newly hired Reddit engineer – A report published on Cointelegraph

With the inculcation of blockchain technology, Reddit aims to establish autonomy for communities in a decentralized and secure way.

For example, making more than n number of posts or comments a day reduces Point earnings by a certain percentage for that month.

  • Condition for earning points– It can be made compulsory to become a member for a specific period of time in order to earn the community points. In that case, new accounts would behave well to stay in the community, otherwise, they will not earn Points.
  • Each subreddit can flexibly customize the rules, so they can be modified in accordance to the specific needs of your community.

    Moreover, the moderators and administrators work consistently to ensure that such acts like spamming are strictly prohibited. They also possess the power to ban such users.

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    The exact mechanism and algorithm for the calculation of Karma points are not revealed by Reddit.

    Karma ensures that the best possible content is depicted to the users. Here is how karma works-

    A post in Reddit can either be upvoted or downvoted by the users which are associated with accumulating positive and negative karma respectively. Positive karma increases the number of points in a post and negative karma decreases the same.

    In Reddit, there are two methods of earning Karma points-

    1. Via Posts – When a user posts something and it gets upvoted, one point of karma is gained.

    Posting relevant, interesting, thought-provoking, informative, professional, and entertaining content that resonates with the community is the best way to earn Karma points.

  • Via comments – Another way to earn Reddit Karma is by commenting on popular posts with insightful inquiries, answers, helpful feedback, and remarks! Upvoting and downvoting features are available here as well. The vote depends on how relevant they are to the post. The admins and the moderators can report and remove abusive comments.
  • By posting Links – This is the simplest and the fastest way to earn Karma.
  • These memberships would be available for purchase by the members and would unlock features such as badges, GIFs, and animated emojis.Policy to control spamming and unauthorized content

    Reddit’s goal is to provide an enriching experience to the users. Thus, Reddit has appropriate teams and technology to prohibit spamming and other unethical activities.

    According to the provisions of Reddit, unscrupulous acts can be regulated by enforcing specific rules in the subreddits.

    For instance –

    1. Penalization– People can be penalized for spamming too many posts or comments.

    Through the partnership, Reddit will be able to create its own blockchain instance where users’ tokenized community points can be stored.

    “Everything will be permissionless, open-source, and decentralized, just like crypto. I can’t wait for it to hit mainnet and see how DAOs are formed and what DeFi, NFT applications might emerge,” Rahul tweeted.

    Social media companies are becoming engrossed with a switch into the blockchain ecosystem, with Twitter building the BlueSky project. This decentralized protocol is billed to serve as a foundation for various social media platforms to be built on it.

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