390
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

Reddit’s blockchain-based “Community Points” rewards crash after sunsetting::Tokens based on subreddit reputation saw dips over 85% after the announcement.

you are viewing a single comment's thread
view the rest of the comments
[-] Eiim@lemmy.blahaj.zone 8 points 1 year ago

Likely only Reddit can say. I don't think Reddit was ever trying to make money off Community Points directly (in contrast to their NFTs), but rather to boost engagement. Whether or not it did, and by enough to offset the costs of starting and maintaining the system, we'll likely never know.

[-] ChunkMcHorkle@lemmy.world 3 points 1 year ago

You're probably right on all counts, but thank you for your response. Anymore when people start talking about the never ending shell game of crypto my eyes just glaze over, lol. "We’ll likely never know" seems to be the final line of every crypto story these days, when it comes right down to it.

[-] banneryear1868@lemmy.world 2 points 1 year ago* (last edited 1 year ago)

I think it really boosted the worst kind of engagement. I found a whole spam network there modded by a single egomaniac who spent their whole life creating subreddits, maintaining different personas on the site, crossposting posts between all their alt accounts and subreddits, to external subs they didn't control, etc. People who noticed spammy behavior were silenced and many who spoke out were harassed by them through false reports or just the person calling them slurs in comment threads. Admins recently banned all their main subs and accounts, but they constantly lost individual alt accounts for this behavior. They still operate smaller subs on the site and behave the exact same way.

this post was submitted on 19 Oct 2023
390 points (97.3% liked)

Technology

60086 readers
2334 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 2 years ago
MODERATORS