According to a press release published, social media giant Reddit, Blockchain It has partnered with FTX Pay for an initiative that will allow users to pay for their transactions with community points.
The integration also allows Reddit users to pay network fees on different blockchains directly through the app. Ethereum (ETH) will allow them to purchase.
Reddit Has Been Using Blockchain Technology Since 2020
Launched in 2020, Reddit’s blockchain-based community points system rewards users based on the quality of their posts. Community points migrated to the Arbitrum Nova chain in 2021.
“We are excited to partner with Reddit to continue our efforts to empower online communities to harness the power of Blockchain,” said Sam Bankman-Fried, CEO of FTX.
Niraj Sheth, a software engineer at Reddit, added that the platform “want to introduce new ways to use Reddit, and that decentralized, self-sustaining Blockchain technology allows it to do so.”
The social media platform Reddit, which has gained popularity especially in recent years, is following Twitter, which has recently started using crypto money-based features such as tipping with BTC.
However, Twitter founder and former CEO Jack Dorsey is known as one of the biggest supporters of Bitcoin. Dorsey took over the management of his other company, payment platform Block, in order to be more involved with Bitcoin. Block company’s former name, Square, was changed to Block to show the company’s connection to the cryptocurrency world.
*Not investment advice.
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