The well-known social networking site Reddit is launching a new contributor program that will enable users to exchange their Reddit gold and karma for actual cash.
In addition to introducing a new, more straightforward method for awarding content on its platform with Reddit gold, Reddit made the announcement in a blog post. Each month, eligible Redditors will get money in the mail for their efforts. Karma, the number next to a user’s username on Reddit, is accumulated over time by posting and commenting. Reddit gold is given to users by other Redditors in exchange for their content on the site.
On Monday, Reddit introduced the contributor program, promising to pay eligible users and moderators real (fiat) money in exchange for their efforts to the website.
A Redditor who meets the requirements must be at least 18 years old, reside in a supported area, and have a Reddit account. “Once accepted into the program, Redditors will be paid per month. According to a blog post on Reddit, “the earnings a redditor earns are computed depending on the amount of karma earned and gold received on their qualified contributions.
The Reddit contributor program is currently rolling out across the web, iOS, and Android Reddit apps in the US. Users can access the program from the profile menu, and if they are eligible, they can touch the ‘Get Verified to Start Earning’ button to sign up. Reddit has not provided any information regarding the user reward.
Additionally, the business has introduced an easier method for users to receive Reddit gold. With the new gold system, users can select from a pop-up menu of six gold awarding options directly within the post or comment they wish to commend by long pressing the upvote icon on mobile (or hovering over it on desktop) and choosing from $1.99 for one gold to $49.00 for 25 gold. As a result, a golden upvote will be given instead of a standard one. Only a few communities on Reddit’s native mobile applications now have access to this functionality; more communities will have access to it in the upcoming weeks. Later this year, the new gold system will be accessible over the Web.
Months after thousands of well-known subreddits went dark in opposition to the company’s proposal to charge for access to its data, Reddit is making an attempt to reward its contributors. Reddit now charges app developers from other companies to access its application programming interface (API). Apollo and other well-known third-party apps for the system had to close as a result. According to Apollo, the charges would cost them more than $20 million a year based on their present usage.