Reddit points jumped over 45% on Sunday after new disclosure revealed that Totem Point Management LLC, based in New York, had bought a participation in the company during the fourth quarter worth around 1.273 million dollars.
The strong upward trend highlights an increasing excitation of investors not only around the growth of the Reddit platform, but also its system of community points based on unique blockchain.
The Reddit points, which allow users to win, own and spend blockchain tokens according to their contributions to certain layers, have become an increasingly important element of the company’s ecosystem.
Unlike the traditional “karma” on Reddit, the points are decentralized – which means that users really own them and can store them in cryptographic wallets, give a tip to others, unlock special subscriptions and even exchange them. Communities like R / cryptocurrency (with his “moons” token) led to adoption. See the seven-day trend below.
There is also R / Fortnitebr, who joined last week:
The rally also reflects a broader market dynamic, because cryptographic assets have been raised by a mixture of institutional interest, optimism around social networks based on blockchain and the recent initial public offer of the social media society.
Investors seem to consider community points as a potential “sleeping asset” that could stimulate new models of engagement in the evolution economy of creators.
