this post was submitted on 17 Oct 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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Reddit is killing blockchain-based Community Points (techcrunch.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Reddit is sunsetting its blockchain-based Community Points product, the company announced on Tuesday. A Reddit admin (employee) shared the announcement about Community Points, which uses the Ethereum blockchain, on a few subreddits, including r/CryptoCurrency (which had its own “moons” crypto token), r/FortniteBR (which had its own “bricks” token), and r/EthTrader (which had its own “donuts” token).

The value of those tokens has, predictably, fallen off of a cliff, as CoinDesk reports drops of between 60 and 90 percent.

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[–] Tag365 11 points 1 year ago (1 children)

And it's already gone? They seem to be making hasty and flawed decisions.

[–] Goodie 8 points 1 year ago

When you're already bleeding money, running an unsuccessful cryto scam is just another money sink.