Reddit experimented with a special Community Points feature that allowed subreddits like r/Cryptocurrency to have their own token called Moons. These tokens could be stored in your vault that also holds your profile avatar NFTs. Reddit decided to remove the feature and the Moon token lost most of its value. One of the reasons why the feature wasn’t popular might be because it led to an increase in spam from people who were engagement farming to earn more tokens rather than making organic contributions.
Thank you for the information. I have never heard of Moons tokens. Maybe I only read information instead of researching crypto assets in depth on Reddit. Every feature has its downside, especially when many people only want economic benefits instead of trying to contribute more to the community. This could be an additional reason why Reddit decided not to create its own token for its community. Instead, when Reddit goes public, it will have its own stock ticker, which would be great if this stock was tokenized and traded on the largest CEXs.
