NFT

Reddit Rewards its Most Loyal Users With Free NFTs

Based on their status in the platform’s ranking system.

NFT

Reddit Rewards its Most Loyal Users With Free NFTs

Based on their status in the platform’s ranking system.

“Your Reddit Karma has created something new and broken the avatar mold,” a bold and mysterious voice announced to users in a recent promotional video on Reddit.

Through the utilization of the Polygon network, the social platform is airdropping free NFTs to its most loyal users, identified based on their Karma score — a type of social scoring system on the site.

The news comes less than a month after the platform first announced the launch of its NFT marketplace and main line of collectibles, designed by community artists.

Reddit’s latest NFT offering is a more limited run, for only some of the most hardcore users. Those rewarded with the airdrop were able to choose from four different factions, each with its own unique design aesthetics.

The different factions are made up of Aww Friends, a cute animal-themed collectible, Drip Squad, streetwear-styled collectibles, Meme Team, designed around some of the most popular memes, and The Singularity made up of tech-themed collectibles.

As part of its bigger plan, Reddit has been exploring the use cases of blockchain and Web3 technologies — something it has been working on since 2019.

One use it has identified is the tokenization of its “Community Points” program, which is aimed at creating a reward mechanism through what could be considered a social ranking system. Other applications of the system have been used for social and gaming apps.

It’s believed that the platform could be looking to create a social system that could eventually be interoperable and adopted by other networks and dapps — creating almost a universal account.

In other news, Ethereum has put out a $1 million USD bounty for anyone that can find bugs in its network prior to the merge.

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