Through a connection with FTX, the crypto exchange owned by billionaire Sam Bankman-Fried, Reddit now allows users to acquire Ethereum cryptocurrency on the network. FTX said in a news release that Reddit users may now utilize the company’s payment system, FTX Pay, to manage their blockchain-based community points.
In 2020, Reddit introduced community points as a mechanism to reward members for participating with a community. These points live on the Ethereum blockchain and are kept in the “Vault,” a user’s blockchain-based wallet that also contains the collectible NFT (non-fungible token) avatars released by Reddit last month.
