Reddit has entered into a partnership with the Ethereum Foundation to increase its commitment to blockchain, Reddit administrator u/jarins wrote in the Ethereum thread. With the partnership, the social content aggregator wants to accelerate scaling and resources for the Ethereum ecosystem, and bring the value of blockchain technology "to millions of redditors."
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Reddit's blockchain-related initiative will be led by its own special team called Reddit Crypto.
"We are looking forward to working closely with the Ethereum Foundation, and contributing more to the broader Ethereum ecosystem — and we hope to share some exciting announcements over the next few months," u/jarins added.
Last year, the popular online forum announced the development of ERC20-based tokens to reward users for contributing to the platform.
The tokens, dubbed $MOONS and $BRICKS, are distributed between members of the /r/Cryptocurrency and /r/FortniteBR subreddits, respectively, as part of Reddit's "Community Points" initiative. Later, Reddit Co-founder and earlier investor in Coinbase, Alexis Ohanian, said the industry was witnessing a crypto spring in terms of blockchain-related products growth.
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