Crypto and Fortnite Reddit Communities Launch Ethereum Tokens

2020-5-15 11:14

Last month, social media giant Reddit began testing community points using ERC-20 tokens. This pilot launch, which has the potential to bring cryptocurrency to Reddit’s more than 400 million users, has now been officially launched.

Reddit Adopts Crypto

Reddit’s new cryptocurrency initiative introduces two new tokens: MOONs on r/CryptoCurrency and BRICKs on r/FortiNiteBR.

Currently, these tokens can be used to display one’s reputation in the community and unlock badges.

The tokens introduce an incentive to contribute to the subreddits, as users can earn tokens if others upvote their comments or posts.

Fifty million tokens will be issued at genesis to members who have contributed to the subreddit and have at least 100 Reddit karma. In the next month, five million tokens will be released on each subreddit, with a 2.5% decrease with each subsequent month. 

Issuance will stop once it reaches 250 million tokens.

MOON distribution schedule, via Reddit

Both MOON and BRICK are ERC-20 tokens on Ethereum’s Rinkeby testnet and will remain on this network throughout the summer. After sufficient community testing, the tokens will be moved to the Ethereum mainnet.

Since they run on Ethereum, Reddit has no control over tokens outside of issuance.

Blockchain’s ability to disrupt the status quo in social media is a recurring theme within the cryptocurrency community. Several projects are attempting to capitalize on this opportunity, but this is the first case of an existing social media platform integrating cryptocurrency and blockchain.

Reddit had an active user base of 430 million accounts as of Dec. 2019, per TechCrunch. The two subreddits trialing a crypto-based token total 2.3 million users. 

Reddit could decide to launch tokens across other active subreddits, or even offer a single token for the entire platform.

Cryptocurrencies are gearing up for a solid 2020, with boosts to institutional and retail adoption.

The post Crypto and Fortnite Reddit Communities Launch Ethereum Tokens appeared first on Crypto Briefing.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

VIP Tokens (VIP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 VIP

reddit crypto launch tokens communities fortnite ethereum

Источник: cryptobriefing.com

reddit crypto → Результатов: 126


Reddit Just Rolled Out an Ethereum-Based Crypto to Over 20 Million Users

Last month, as reported by NewsBTC, leaked screenshots suggested that Reddit was dabbling in Ethereum. Information shared by a user named “MagoCrypto” indicated that the giant social media forum with hundreds of millions of active users had attached an Ethereum address to the accounts of a limited set of users. Mago suggested that from the...

2020-5-14 01:46


Маржинальная торговля криптой — все за и против

Binancians продвигают крупнейший в мире криптообмен по объемам для услуг маржинальной торговли. Компания Crypto Exchange объявила, что запустила платформу Margin Trading для всех своих пользователей.

2019-7-16 19:03


New Study Explores the Speed and Scale of Crypto Discussions with Its Affects on Market Performance

A new study on the impact crypto discussions on social media platforms have on the overall market has been evaluated reports Coin Desk. In particular, Data Analysts from the Pacific Northwest National Laboratory (PNNL) looked at crypto discussions that took place on Reddit, as a way to qualitatively measure to what extent it can be […]

2019-6-7 06:29


Crypto Market Volatility May Not But Manipulation, But a Result Of Low Liquidity Caused By Whales?

Volatility In Crypto Market Not Due To Manipulation, But Merely A Result Of Low Liquidity Caused By Whales? Recently, a debate has sparked in relation to crypto market’s volatility on Reddit. One particular user argued that said volatility is not always caused by price manipulation, but rather the lack of liquidity, which they trust is […]

2019-6-1 20:44


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Long-term Bitcoin holders resume accumulation, adding almost 70,000 BTC post-downturn

Quick Take Glassnode data suggests that long-term holders who have held Bitcoin (BTC) for over 155 days are actively accumulating after offloading around 1 million BTC since late 2023. This cohort, known for selling into profits when Bitcoin reaches new all-time highs, has increased its holdings by approximately 70,000 BTC from the cycle bottom.

Nexo announces $12 million token airdrop for platform users

Nexo's token airdrop campaign will give users access to a pool with 10 million NEXO tokens by engaging with their digital asset products. The post Nexo announces $12 million token airdrop for platform users appeared first on Crypto Briefing.