MultiversX Tracker is Live!

Reddit Community Points - Potential Use Case and Mechanics

All Cryptocurrencies

by COINS NEWS 98 Views

TLDR: Reddit may have found an unintrusive and rewarding way to implement blockchain technology in video games as well as make their platform the go-to social media site for online communities.

Hi all, so with the recent XRP ruling and Reddit ToS changes, trading blockchain assets has now been given the greenlight and facilitated through the recent listing of Moons (and supposedly Bricks? See here for more info) on CDC.

The current use case for Moons is that you can earn them for your participation, trade them in for RCAs with those willing to trade in this currency, or cash them out. But this system has implicit self-perpetuating mechanics baked right into it. Reddit has created a system where you don't necessarily need to have the money to buy RCAs, but enough Moons that you can earn in your spare time to buy them. You're rewarded for your participation and are able to use those rewards for other things you want. And then because you're getting rewarded for things you want, you're incentivized to return. So in a nutshell, the system flowchart would look like

Post/Participate ➡️ Earn ➡️ Spend/Trade ➡️ Repeat ????

Ok that's pretty cool on its own, but let's take it a step further outside of the CC and RCA communities. Let's take a look at Bricks, and just copy/paste this exact same formula in the context of the Fortnite community here on Reddit. You participate in the community, you get rewarded for it, but now you get Bricks. What can you do differently with Bricks? At the moment, nothing. There's no difference in how they currently work. But let me propose the possibility of Reddit and Epic Games partnering such that a simple change is made to the Fortnite game, where you can link your wallet and spend your Bricks on Fortnite skins or a battlepass, simply because you participated in the Fortnite community. Don't think this is is possible? Reddit recently partnered with Ubisoft for the Rabbids RCAs. It seems like they're testing the waters with caution.

It may be the case that the intent is to extend this into other communities later on and see how things go with both Moons in CC and Bricks in Fortnite. If things go well, its looking like Reddit has positioned themselves as the go-to site for online communities to form and reward their users to organically engage more, all in way that is self-perpetuating.

submitted by /u/superduperdude92
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments