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Reddit to reportedly tokenize karma points and onboard 500M new users
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American social media giant, 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 series of tweets made by Reddit engineer, Rahul, highlights Reddit’s efforts to improve user interaction through various cryptocurrency initiatives. As Cointelegraph reported in July 2021, the platform had launched its own layer-2 rollup using Arbitrum technology for its rewards points, named Community Points. According to the website:
How will we pull this off?Reddit has partnered with @OffchainLabs (@arbitrum) and created our own separate instance. Community points for 2 subreddits (~80,000 users) are already on Rinkeby Testnet on
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