Big day for crypto: Reddit launches Ethereum-based tokens

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Reddit, one of the most popular internet platforms in the world, launched Ethereum based tokens. Reddit members will be able to use tokens to vote, donate content, and transfer money.

The popular social media platform Reddit has issued two tokens for users to receive rewards for their contribution to the content.

One of these tokens was named MOONS and the other was called BRICKS. It is stated that tokens will be given to members in / r / Cryptocurrency and / r / FortniteBR subreddit as part of Reddit’s new initiative called “Community Points”. The number of members in these two subreddites is 1 and 1.3 million, respectively. The Vault page has been published where users can manage these tokens and access detailed information about the subject. Both tokens were issued on Ethereum with the ERC-20 standard.

Reddit members will be able to use tokens to vote, donate content, and transfer money. Also, token balances will be shown as a way of measuring users’ credibility.

Last month, we reported that Reddit was working to extract a cryptocurrency. The fact that these studies are now complete and available is a big milestone for the cryptocurrency ecosystem, given the user base of Reddit. One of the top 20 most visited sites in the world, Reddit.com received 1 billion 540 million visits in the last month. The platform’s mobile applications have been downloaded at least 20 million times so far.

On the other hand, Alexis Ohanian, founder of Reddit, is a person who is closely interested in cryptocurrencies. Ohanian has investments in crypto money initiatives such as Origin Protocol and AVA.

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