Reddit Points surged greater than 45% on Sunday after new disclosures revealed that New York-based Totem Point Administration LLC bought a stake within the firm through the fourth quarter value roughly $1.273 million.
The sharp upward development highlights rising investor pleasure not solely round Reddit’s broader platform development but additionally its distinctive blockchain-based Group Points system.
Reddit Points, which permit customers to earn, personal, and spend blockchain tokens primarily based on their contributions to sure subreddits, have develop into an more and more essential piece of the corporate’s ecosystem.
Not like conventional “karma” on Reddit, Points are decentralized — which means customers truly personal them and might retailer them in crypto wallets, tip others, unlock particular memberships, and even commerce them. Communities like r/CryptoCurrency (with its “Moons” token) have led to adoption. See the seven-day development under.
There’s additionally r/FortNiteBR, which rallied over the previous week:
The rally additionally displays broader market dynamics, as crypto belongings have been buoyed by a mixture of institutional curiosity, optimism round blockchain-based social networks, and the social media firm’s latest preliminary public providing.
Traders seem to view Group Points as a possible “sleeper asset” that might drive new engagement fashions within the evolving creator economic system.
