There appears to be a lot of enthusiasm regarding Reddit’s new Moon tokens. It is a very interesting asset built on top of Ethereum, and one that appears to get cryptocurrency enthusiasts rather excited.
It has been coming for some time now, but different subreddits now have
their own ERC-20 tokens.In the case of /r/cryptocurrency, the token is called Moon.
It is very similar to how /r/Ethtrader approached the concept of a native token several years ago.
With more of these tokens being introduced for different subreddits, things are bound to get interesting.
Claiming the Moon token – or any other asset native to a subreddit – requires the Reddit mobile app.
In the app, users can collect tokens from their “vault”.
So far, tokens have been distributed based on one’s previous activity in that particular subreddit.
The bigger question is what purpose the tokens will serve exactly.
After all, they are not designed to have any value, albeit they will be tradable in the future.
It is also worth noting that this will not replace the existing Karma system either.
Users can spend Moon on specific features on the subreddit, but otherwise, the functionality remains very limited.
Back into Spotlight: Tron Network Fee Cut Could Push TRX to ATH, But This DeFi…
Shiba Inu (SHIB) gave enormous returns in 2021, making many early holders millionaires. After the…
Spooky season might be over but doom is still looming as Ripple’s XRP falls below…
Three promising altcoins are causing a stir among investors this November: Avalanche (AVAX), Cardano (ADA),…
Everyone knows what the hottest crypto can do. When it was so hot it was…
The Tron network has witnessed incredible growth in several areas, especially in its adoption, which…