Reddit Expands Community Points Offering With FTX Pay Integration

Reddit Expands Community Points Offering With FTX Pay Integration

Users of the social media platform will now be able to purchase ether directly on the app.

Social media giant Reddit has partnered with FTX Pay to allow users to pay gas fees on transactions using community points, according to a press release.

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 quality of post. Community points shifted to Arbitrum in 2021 to enhance its ability to scale.

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

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.”

Reddit mirrored rival social media platform Twitter’s (TWTR) approach, which integrated a blockchain rewards system by introducing the bitcoin tipping feature earlier this year.

This article was originally published on coindesk.com

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