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Reddit Users Will Get Ethereum Based ERC-20 Crypto Token in Exchange For Karma Points.

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Reddit, social media platform, is planning to offer Ethereum-based crypto tokens to people with specific numbers of Karma Points.

An engineer working with Reddit earlier this month revealed fresh details on the pro-crypto changes that are being considered for implementation on the platform is used by 500 million monthly active users.

Karma Points are awarded to Reddit users if their post threads garner votes. By transforming these Karma Points into ERC-20 tokens, the platform aims to move its 500 million users onto the Web3.0 – which is the progression of the Internet we know today.

Rahul Kothari an engineer with Reddit said the aims is to decentralise the Internet to benefit the individuals and communities that thrive on the platform.

“Users control their community points, their profiles, and their own communities. Ideally, we all want to live in a world where one company/ person can’t make such decisions but rather a community does!” Kothari tweeted.

The platform has also partnered with OffChinaLabs — a New York-based company that is building a suite of scaling solutions for the Ethereum blockchain to support their future plans.

“We believe in a new dawn for the Internet, where it can be free once again. We don’t have all the answers, but we believe together we can find a way,” reads a blog post on Reddit, while inviting people to “create a vault” and join it in a “new beginning”.

Kothari believes that integrating crypto into the Reddit infrastructure could lead to the emergence of more decentralised finance (DeFi) protocols and applications around non-fungible tokens (NFTs).

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