Reddit says karma points onboard 500m

The fund will also support gaming projects built on “all platforms” alongside other areas related to the metaverse, NFTs and Efinity’s core infrastructure.

Related:The Sandbox raises $93M to expand its NFT metaverse

Earlier this year, Enjin secured $18.9 million funding from investors including the major crypto exchange Crypto.com to debut Efinity, its Polkadot-based blockchain for the NFT industry. EFI, the native cryptocurrency of Efinity, went live in August 2021 following a $20 million token sale in July.

Enjin’s latest move into the metaverse comes amid the growing hype around the metaverse concept, fueled even further after social media giant Facebook officially changed its company name to Meta.

This means that, if you’ve been an upstanding redditor, your 33.22 karma score is currently worth almost eleven MOONs, but that number isn’t fixed. In October 2020, users only needed 1.71 karma to earn a dollar’s worth. Last month, eager crypto redditors needed 69.01 karma to get that dollar.


You’ve been able to convert MOONs to cash. Answer (1 of 5): Karma is calculated in equal measure – if you steal, you will be stolen from, if you murder, you will be murdered, if you make fun of someone, you will be made fun of, if you abuse someone, you will be abused, and so on and so forth. Karma can. tinder elo reddit Search jobs.

Reddit engineer, Rahul, highlights the social media platform’s efforts to improve user interaction through various cryptocurrency initiatives.

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-two rollup using Arbitrum technology for its rewards points, named Community Points.

Reddit says karma points onboard 500mh

He is a male registered to vote in Queens County, New York.

Morocco costs $1,648 per month to live and work remotely. Morocco cost of living, internet speed, weather and other metrics as a place to work remotely for digital nomads. The practice of spamming reposts and random content to get karma is called “karma farming” and is generally frowned upon on Reddit.


In some subreddits, you might be banned for posting too often within the same time period. The best way to get karma is by posting organically. Find subreddits you enjoy reading and become an active member.
I previously assumed karma was just the tally of all your upvotes, however I currently have a post with over 500 upvotes yet I’ve only just now broken 300, and that’s not even taking into account my comments.

Reddit says karma points onboard 500mp

If it’s a genuine experimentation that DAOs the platform, then the crypto market will start giving competition to the stock market as a platform for raising capital.

We think that’s inevitable because cryptos have some irreplaceable advantages, including the fact you can actually own your shares or token. What that means is a complex matter that goes deep into the financial pipelines, but all we need to say is Libor.

As such, the question isn’t whether a proper crypto market starts developing that gives the stock market real competition. The question is at what speed or even when does it begin.

This experimentation by Reddit suggests sooner than anyone thinks.

We’ll let Rahul Kothari speak. He appears to be a relatively new crypto developer professionally, currently interning at the Ethereum Foundation to L2 Devcon tickets, and has just joined Reddit’s crypto team. He says:

“What is Reddit doing in crypto? Three words: Decentralise. Social. Media.

Think community-based decisions, forking subreddits in disagreements.

And all of this without even losing your community points? It’s like moving from Facebook to Twitter without having to rebuild your followers.

Reddit has 500M monthly active users.

When we all pull this off, we would onboard 500M web2 users into web3 and then there is no going back.

It is time to take back control. Make the internet truly open and break free.

Give each of us ownership of what we are using.

Other than ownership, there is also a financial reason to do this: To explore a new monetization strategy.

Surely there are better ways to monetize than just creating walled gardens. One that is a WIN-WIN. One where even users can earn by curating content.

How will we pull this off? Reddit has partnered with OffchainLabs of Arbitrum and created our own separate instance.

Community points for 2 subreddits (~80,000 users) are already on Rinkeby Testnet on our Arbitrum network (separate to Arbitrum One).

I.E. r/cryptocurrency and r/FortNiteBR already use community points aka tokens. Lots of cool learnings already. Feel free to join and play out with them.

But we need to scale it even more for gasless tx.

He’s a coder so he appreciates a lot of the innovation here.

Practically, we’re more interested what this means financially. A private company, launching a token, with that token usable to participate in its revenue share as you can buy ads with it or whatever, making it a share but a lot more because it’s a token.

They have a token for each subredit, making it complex from an investment perspective, but they could launch a Reddit wide governance token after the prototypes and the experimentation.

That’s capital raising from the public in the crypto market rather than the traditional market. You can even say the entity is going public, or semi-public, in a crypto first way.

Whether anyone would care depends on execution.
If it’s a gimmick, the market will smell it from a mile.

According to the website:

“Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin (BTC) !).”

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 our Arbitrum network (separate to Arbitrum One).

— Rahul (@iamRahul20x) November 3, 2021

Reddit’s partnership with Offchain Labs’ Arbitrum network will allow for the creation of a separate blockchain instance, to be used for storing users’ tokenized community points.

Reddit has a reputation for being a place where people can find information quickly and easily. That means there’s a lot of people that use Reddit as a source for news and information. However, Reddit has now taken cryptocurrency into consideration, and you should know more about Reddit cryptocurrency.
Let’s look at Reddit Crypto to find out more.

What is Reddit Karma Cryptocurrency?

On Reddit, karma is earned when other users upvote posts and comments. Karma points are not a currency. They are a form of social media reward points. Reddit users can vote on comments or posts by clicking the upvote and downvote buttons next to each.
Positive karma (upvote) increases the number of points a post has, while negative karma (downvote) decreases it.

Efinity.

Blockchain gaming platform Enjin is establishing a new fund to support the development of the metaverse ecosystem and make it more decentralized.

Enjin, a startup behind the nonfungible token (NFT)-focused blockchain Efinity, has formed a $100 million fund to support ​​Efinity adopters as well as other related projects, the startup announced Thursday.

“It is now time for us to turn this into an official, public, and conscious piece of our growth strategy, and support a free, open, and decentralized Metaverse,” Enjin said, adding that it will consider equity investments in seed funding rounds and token purchases to nurture the ecosystem.

Dubbed the “Efinity Metaverse Fund,” the new fund also targets organizations that are focused on cross-chain integrations with the Enjin ecosystem as well as collaborative NFT projects on Efinity and Polkadot.

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