FTX Partners with Reddit to Roll-Out Tokenized Community Points

Today, FTX ( @ftx_official ) announced its partnership with social media giant Reddit ( @reddit ) to roll out tokenized Community Points with assistance from L2 scaling solution Arbitrum ( @arbitrum ).

“We are thrilled to launch our global partnership with Reddit today. As one of the largest social networks with over 400 million active users each month, Reddit has been a pioneer in web3, announcing Community Points in 2020 as a novel way to empower its online communities. In 2021, Reddit selected Arbitrum ( @arbitrum ) in a scaling bake-off to bring Points to the Ethereum mainnet using Arbitrum Nova. Today, Community Points are going live, and users can collect and access Points earned via FTX Pay,” said FTX in a blog post.

They went on to say, “Using Points, communities can incentivize more engagement and better content, reward creators, and launch their own customized Points token. The more Points someone earns, the more influence they will have within that space.”

I am excited to see how the Reddit community embraces the crypto community. Will you be earning points? Let us know in the comments below. 👇🏽

Leave a Reply