 | *Heavy dose of Moon hopium incoming* So recently I had this post pop up on my Linkedin: The moon conversation is beginning to pop up on social media. It's beginning. They're even starting to talk about Moonfarming in the news... Remember what happened when social media picked up on Reddit NFTs?It started to pop up everywhere. Then when all that hype pushed sales of the second round of NFTs, we had a second round of stories about how Reddit NFTs became the so much of the volume on Openseas. But something much bigger is brewing with moons and Reddit.If you look at that Linkedin article, it's talking about how Reddit wants to build a web 3.0 social media platform. NFTs and using cryptocurrency for community points, are actually part of a bigger plan for Reddit. Recently Reddit has stepped up on its experiment with interactive tools. On top of RCP and NFTs, it's also been experimenting with everything from RPAN, Livechat, to betting tools. It might have even experimented with interactive community gaming again by bringing back r/Place. Reddit's plans may go further than that. Is it planning on building its own metaverse, and try to succeed where Facebook has failed? Why is Reddit pushing for web 3.0 and potentially a metaverse?For those who may not know, Reddit has filed for an IPO, meaning they want to go public as a company. This is where it's important to build a high valuation, and a lot of interest. They're not gonna achieve that by just doing business as usual. They need to show that they are the social media platform of the future. What better way to show that than by pushing for a web 3.0 social platform. And what better way to show that, than by offering many key solutions to the age old problems of social media, like finding a way to incentivize participation and engagement, finding a way to reward content creators without relying on sponsorship, reward its mods who currently work for free, and push more people on its platform. Reddit has figured out the answer to all that with its social media tokens like Moon. Moons are the experiment they can show has produced big dividends in turning a sub of several hundred thousands into a sub of several millions. With the token still holding strong, and still growing in utility. And providing solutions to social media problems. I think as Reddit is pushing more its web 3.0 and metaverse, it will put its RCPs like Moon at the forefront of its campaign. [link] [comments] |
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