Quote:
Originally Posted by donk.
The only reason reddit would do that, is probably because the owners of reddit bought up a bunch of moonshitcoin, then they pump the coin, sell out, and then go back to taking Mastercard payments for advertising.
Or the owners of moonshitcoin, paid reddit, a thicc commission, to pump it on that sub
If they really wanted to cash in, they would pump the scheme across the entire platform, but in reality, they would probably lose a massive amount of revenue because noone wants to pay by crypto for advertising
This coin will blow over like the rest
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Well you can check the distribution of the token. It is pretty pointless to try to manipulate a shitcoin with no volumne, no easy way to trade and no CEX to help pump. As of now this is a compeltely useless shitcoin that literally is meant to replace their current karma/award system.
Traditional online advertisement revenue has been shrinking for alot of web2.0 corps and I am sure Reddit is trying to find the next big wave instead of doubling down on a dying web2.0 function.
On the contary I think Reddit is explorer real usage case for crypto/NFT on their already succesful platform.
Side note this token was offer to several subreddit and only a few has adopted it. MOON for /cc is one. BRICk for /fortniteBR is another
Reddit being a for profit organization you can't shame them for trying to make money. I doubt these shitcoin is their grand master plan, it is more of a way to encourage engagement.
BUT their well execute NFT launch has been very succesful and no doubt profitable, a literally take my money and shut up moment for the platform.
Zoom out thou... Reddit just manage to onboard a shitton of people with zero crypto experience. You need to activate your vault (aka wallet) to store all these shitcoin and jpeg. Reddit made it so easy majority of the user don't even know they just step into crypto land.