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niraj sheth – RE3W.IO https://re3w.io Web 3 Gaming News Fri, 12 Aug 2022 05:31:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://re3w.io/wp-content/uploads/2022/06/cropped-6257123555f2839a6f5124cd_re3w-p-500-32x32.png niraj sheth – RE3W.IO https://re3w.io 32 32 Reddit Announced They Are Initiating “Tokenized Community Points” Through FTX Pay Partnership https://re3w.io/2022/08/12/reddit-announced-they-are-initiating-tokenized-community-points-through-ftx-pay-partnership/ https://re3w.io/2022/08/12/reddit-announced-they-are-initiating-tokenized-community-points-through-ftx-pay-partnership/#respond Fri, 12 Aug 2022 05:31:05 +0000 http://re3w.io/?p=1110 Social media giant Reddit just announced a new partnership with FTX Pay. The collaboration will allow users to pay gas fees on transactions using “community points”. The integration will also allow users to purchase ether (ETH) directly on the app in order to pay for network fees.

Launched in 2020, Reddit’s blockchain-based community points system awards users based on the quality of posts. Community points shifted to Arbitrum in 2021 to enhance its ability to scale.

FTX CEO Sam Bankman-Fried stated: “We’re excited to partner with Reddit to continue their work to empower online communities to harness the power of blockchain”. 

Staff Software Engineer at Reddit, Niraj Sheth, added that the platform company is looking to “introduce new ways to use Reddit, and decentralized, self-sustaining blockchain technology allows us to do that.”

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