According to cointelegraph, Reddit may soon convert users karma to ERC-20 tokens. The move was announced by Reddit's engineer Rahul, who announced the intention of improving user interaction through a series of crypto initiatives.
To do this they've established a partnership with Offchain Labs’ Arbitrum network to allow for a separate blockchain instance that will be used to store users’ tokenized community points. There aren't many details just yet, but it seems the idea is to create a fully decentralized structure to do this, with self-governance included. It's also mentioned that communities will have the capacity to hard-fork based on the communities' decisions.
It's reported that at the moment, the community points of roughly 80,000 users from two subreddits — r/cryptocurrency and r/FortNiteBR — have been moved to the Rinkeby Testnet on the Arbitrum network.
It's been some time since we've been hearing rumours about NFT's coming to Reddit, but it may seem tokens will arrive first.
Follow me on noise.cash and get paid in Bitcoin Cash for your social interactions: https://noise.cash/u/sp3ktraline
