Reddit launching a cryptocurrency to reward users for engagement

Reddit’s effort is different from in-game cash or rewards for video gamers that are now available, in that the site is creating an actual cryptocurrency running on the Ethereum network. In jumping into crypto, Reddit, which has more than 430 million monthly active users, is seeking to pull ahead of Facebook Inc and Telegram Messenger LLP. — Dreamstime/TNS

Reddit Inc, the often controversial website and discussion platform that is a favourite of many cryptocurrency enthusiasts, is launching its own digital token.

Through the summer, users of two Reddit subgroups familiar with digital coins, including the one million-member r/CryptoCurrency, will be able to earn tokens for things like posting a comment. The currency can be used to buy exclusive badges, to use animated emojis and to reply to Reddit comments using GIFs.