Remember moons? Bricks? Donuts? If you spend time on Reddit, particularly in communities like r/CryptoCurrency, r/FortniteBR, and r/EthTrader, these names might have once rung a bell. They were Community Points, Reddit's ambitious experiment in using blockchain technology to reward user engagement and foster a sense of ownership within specific communities.
What were Community Points?
Introduced in 2020, Community Points were digital tokens built on the Ethereum blockchain. Each subreddit could have its own unique token, like Moons for r/CryptoCurrency. Users earned these tokens by contributing valuable content and participating actively within the community. Upvotes, insightful comments, and creating high-quality posts were all rewarded with Points.
Points weren't just bragging rights. They unlocked various perks within the community. Users could spend Points to boost their posts, award them to other users, participate in exclusive polls and contests, and even influence aspects of subreddit governance. This created a closed-loop economy within each community, incentivizing members to contribute and invest in its growth.
Why did Reddit shut it down?
Despite the initial buzz, the Community Points experiment ultimately had a short run. In October 2023, Reddit announced the program's sunsetting, citing scalability limitations and an uncertain regulatory environment for blockchain-based projects. Scaling Points across the entire platform proved challenging, and concerns about the legal implications of crypto tokens added to the complexity.
A legacy of innovation and lessons learned
While Community Points might be gone, their impact on Reddit shouldn't be overlooked. They were a bold experiment in exploring the potential of blockchain technology for online communities. The program demonstrated the possibilities of using tokens to incentivize positive behavior, foster deeper engagement, and create a sense of ownership within digital spaces.
Here are some key takeaways from the Community Points experiment:
- Blockchain and tokenization can provide novel ways to reward and incentivize user behavior.
- Community ownership and governance models can be enhanced through digital tokens.
- Scalability and regulatory concerns remain significant challenges for blockchain-based initiatives.
The future of blockchain in online communities remains uncertain, but the lessons learned from Reddit's Community Points experiment will undoubtedly influence future endeavors. Even though they're gone, the ghosts of moons, bricks, and donuts might just serve as a reminder of the innovative spirit that continues to drive Reddit and other online communities forward.
Is this the end of the story? Only time will tell. Perhaps with future advancements in blockchain technology and evolving regulatory landscapes, similar attempts at community-driven tokenization might resurface in a more refined and scalable form. Until then, let's celebrate the bold experiment that was Reddit Community Points and the valuable lessons it left behind.
