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Reddit Plans To Convert Its Karma Points To ERC-20 Tokens

When tokenized, Karma points would become independent of Reddit, existing on community-controlled blockchains.

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reddit plans to convert its karma points to erc-20 tokens

A series of now-deleted Tweets by Reddit engineer Rahul Kothari has recently revealed that the social media site is planning to start converting user’s Karma points into ERC-20 tokens.

“When we all pull this off, we would onboard 500M web2 users into web3 and then there is no going back. Let me say that again — 500 million new crypto users” wrote Rahul in his Tweet.

Currently, Karma points are supposed to reflect how much individual users contribute to the community, and they are earned for posting, commenting, and receiving or giving awards.

When tokenized, Karma points would become independent of Reddit, existing on community-controlled blockchains. Reddit calls such points Community Points, and two subreddits already use them: r/CryptoCurrency and r/FortNiteBR.

While r/CryptoCurrency calls its Community Points Moons, r/FortNiteBR uses the name Bricks. In both cases, Community Points reward posters, commenters, and moderators for their contributions, and they are distributed on a monthly basis.

One cool feature enabled by Community Points is weighted voting, where members get one vote for every Point they have, making it possible for the biggest contributors to influence voting the most.

Also Read: Riyadh Will Become Home To The Second Snap Creator Studio Globally

Community Points can also be traded just like any other token with a sizable user base. At the time of writing, one Moon is worth roughly $0.20 and one Brick nearly $0.10. By attaching a monetary value to Reddit contributions, Community Points change the game quite dramatically, and many Reddit users, including those involved in crypto, are not thrilled by this.

“Once they started passing out moons the sub’s quality content dropped, the bots showed up, and now they have votes seemingly every month to tweak how the moons are handed out and what is banned from the sub. It’s ridiculous,” commented u/goofytigre in the r/Ethereum subreddit.

Considering that Reddit is already criticized for being an echo chamber, it will be interesting to see the effect of the tokenization of its Karma points on the community.

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UAE Comes Out Strongly In Guinness World Records 2023

Guinness, the renowned cataloger of record-breaking events, has released its latest annual, after sifting through 40,000 applications — and the Arab world is heavily featured.

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uae comes out strongly in guinness world records 2023
Guinness

Guinness World Records, the authority on record-breaking global achievements, has just announced its latest release, “Guinness World Records 2023 (GWR2023),” which will be available online and in physical stores across the Arab region from today.

As usual, GWR 2023 features all of the latest achievements from around the world (and space!), with special features and updated graphics to bring the stories to life.

So why the interest in the latest Guinness installment? Well, it turns out the Arab Region is strongly represented in the book, with more than 50 records featured in the new edition, which is no mean feat considering the volume of competition.

“We’ve sifted through nearly 40,000 record applications over the past year to bring you Guinness World Records 2023. People from all walks of life continue to be fascinated by extremes, and we’ve received claims from across the planet – indeed, even from space! This is why I’ve said the new edition is out of this world,” says Craig Glenday, Guinness Editor in Chief.

Of interest to readers of this platform, Saudi Arabia and the United Arab Emirates both get to flex their record-breaking muscles.

deepest swimming pool in the world

World’s Deepest Swimming Pool

Saudi Arabia claims the title of “Largest LED Structure and Suspended Ornament” courtesy of the Noor Riyadh Festival, as well as other weird and wonderful titles, including the “Largest Lego Formula 1 Car”, as well as perhaps more prestigious honors, such as “Largest Mirrored Building”, “Largest Clock Face”, “Tallest Lighthouse” and the “Largest Geodesic Dome”.

largest mirrored building

World’s Largest Mirrored Building

Also Read: Fan Spends 7 Years To Create Super Mario Bros 5

Not to be outdone, the UAE has claimed several humanitarian record-breaking titles, including the “Longest Video Livestream” (by The Mohammed Bin Rashid Al Maktoum Global Initiatives and pan Arab influencer Hassan Suleiman), the “Largest Donation for Medical Treatment”, and the “Most Awareness Ribbons Made in One Hour”.

longest video livestream

World’s Longest Video Livestream

On the tech front, the UAE also claims several prestigious firsts, including “First 3D-Printed Laboratory”, while the world-renowned Burj Khalifa hangs on to its title of “World’s Tallest Building”.

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