Reddit partners with FTX to enable ETH gas fees for community points
With the new integration, Reddit users will be able to purchase Ether from supported Reddit apps via FTX’s payment and exchange infrastructure platform FTX Pay. After moving away from Bitcoin (BTC) payments years ago, online forum Reddit now seems to be inching closer to embracing cryptocurrency payments via a new partnership with the FTX exchange.Sam Bankman-Fried’s crypto exchange FTX and Reddit announced in a joint statement on Tuesday that the platform intends to integrate Reddit’s Community Points in the United States, the European Union, Australia and other markets.The partnership....
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The popular forum and news aggregation web portal Reddit has revealed the firm’s Community Points beta program where Reddit users can “own a piece” of their community with “custom tokens” for subreddits.
Blockchain-Backed Reddit Community Points: ‘The First Step Towards a Different Future for Online Communities’
At the end of July, Reddit announced that the platform’s Community Points system would leverage the Layer 2 (L2) protocol Arbitrum. This week, Reddit revealed a new website that features the Community Points beta....
The social media network says the aim of the partnership is to bring Ethereum to "Reddit-scale" production. Popular social media network Reddit, which counts over 1.7 billion monthly visits, is deepening its ties with the Ethereum Foundation in what it has formalized as its first-ever blockchain partnership.According to an announcement from Reddit admin u/jarins, the aim of the partnership will be to increase the site's “commitment to blockchain, accelerating scaling and resources for the Ethereum ecosystem, and bringing the value and independence of blockchain technology to millions of....
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-2 rollup....
On July 22, developers working on the platform Reddit, the social news discussion aggregation forum, revealed that the team was scaling Reddit’s community points program with the Ethereum Layer-2 solution Arbitrum. Currently, Reddit developers are testing the community point tokens on top of the Rinkeby testnet and will migrate to the Ethereum mainnet after testing is complete. Reddit Leverages Ethereum-Compatible Layer-2 Scaling Solution Arbitrum Reddit developers detailed on Thursday that the programmers are planning to leverage the Layer-2 scaling solution Arbitrum, a....
Reddit’s launch of limited edition NFT avatars has led to a large premium on secondary sales on OpenSea. Sales of recently launched Reddit blockchain-based avatars are rising on nonfungible token (NFT) marketplace OpenSea, outperforming the platform’s proprietary store.Reddit, the “front page” of the internet, plugged into the burgeoning world of NFTs with the announcement of collectible avatars in July 2022. The avatars became available to users in August and are already generating thousands of dollars in sales for artists.Reddit users are able to purchase a variety of avatars for their....