Reddit

Arbitrum

Read

MOON

<html>
 <head></head>
 <body>
  <p class="is-style-lead">The native tokens of Reddit’s r/CryptoCurrency community, Moons (MOON) and Bricks (BRICK) have recorded an impressive triple-digit price gain this week following an announced change in Reddit’s terms of service.</p> 
  <p>The cryptocurrency Moons (MOON) associated with Reddit’s r/CryptoCurrency community, which boasts over 6.5 million members, has witnessed a significant price increase since July 16 around 1 pm EST. </p> 
  <p>Coingecko <a href="https://www.coingecko.com/en/coins/moon" data-type="URL" data-id="https://www.coingecko.com/en/coins/moon" target="_blank" rel="noopener noreferrer nofollow">data</a> shows a 358% rise in the value of Moons, from $0.09 to nearly $0.45. </p> 
  <p>Moons are <a href="https://crypto.news/erc-20-tokens-to-watch-in-march-2023/" data-type="URL" data-id="https://crypto.news/erc-20-tokens-to-watch-in-march-2023/" rel="noopener noreferrer nofollow">ERC-20</a> tokens that Reddit awards to users for their contributions to the r/CryptoCurrency subreddit through posts or comments. These tokens can be traded, tipped, or used within the community for various purposes. They can also be stored in Vault, Reddit’s Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>)-based wallet.</p> 
  <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
   <div class="wp-block-embed__wrapper"> 
    <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
     <p lang="en" dir="ltr">I don't see CT talking much about Reddit's Community Points so I want to share some observations since the tokens increased by &gt;100% yesterday. <br><br>There are 2 fungible tokens for r/cryptocurrency (MOON) and r/fortnite (BRICK) subreddits. Both are issued on Arbitrum Nova. <a href="https://t.co/RlKL0kJQtP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/RlKL0kJQtP</a></p>— Bobby Ong (@bobbyong) <a href="https://twitter.com/bobbyong/status/1681136597377630210?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 18, 2023</a> 
    </blockquote> 
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
   </div> 
  </figure> 
  <p>Another token, Bricks (<a href="https://www.coingecko.com/en/coins/brick" data-type="URL" data-id="https://www.coingecko.com/en/coins/brick" target="_blank" rel="noopener noreferrer nofollow">BRICK</a>), given as a reward for contributions in the r/Fortnite subreddit, has seen a substantial increase of 657% within two days from $0.005 to $0.052.</p> 
  <p>Recently, a trending post in the <a href="https://www.reddit.com/r/CryptoCurrency/" target="_blank" data-type="URL" data-id="https://www.reddit.com/r/CryptoCurrency/" rel="noopener noreferrer nofollow">r/CryptoCurrency</a> subreddit highlighted a change in Reddit’s terms of service, which now allows for trading verified virtual goods such as avatars and Reddit’s community points.</p> 
  <p> You might also like: <a href="https://crypto.news/reddit-co-founder-thinks-play-to-earn-gaming-will-become-new-norm/" rel="noopener noreferrer nofollow"> Reddit co-founder thinks play-to-earn gaming will become new norm </a> </p> 
  <p>According to Coingecko’s co-founder and COO, Booby Ong, told <a href="https://www.coindesk.com/markets/2023/07/18/reddit-community-tokens-rocket-as-rule-change-speculation-boosts-moon-brick/?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=FMA%20JULY%2018%2023&amp;utm_term=First%20Mover" data-type="URL" data-id="https://www.coindesk.com/markets/2023/07/18/reddit-community-tokens-rocket-as-rule-change-speculation-boosts-moon-brick/?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=FMA%20JULY%2018%2023&amp;utm_term=First%20Mover" target="_blank" rel="noopener noreferrer nofollow">CoinDesk</a>, “Reddit’s Terms of Service recently changed where it now explicitly allows for trading Reddit’s tokenized Community Points. The change also goes alongside the removal of Reddit’s non-tokenized Coins and Awards. No firm changes have been announced for Reddit’s Community Points yet, but the community is speculating that Reddit will give more attention to the Community Points. This has resulted in MOON and BRICK tokens increasing by over 100% in value this week,”.</p> 
  <p>Ong further clarified that trading community points have always been a possibility, even though it is difficult via the Reddit app. To make a trade, users must export the private key from the Reddit wallet and import it into a crypto wallet. Subsequently, they can trade the community points on an Arbitrum Nova DEX.</p> 
  <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
   <div class="wp-block-embed__wrapper"> <iframe title="What are r/CryptoCurrency MOONs?" width="1020" height="574" src="https://www.youtube.com/embed/NE9phQLljIY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
   </div> 
  </figure> 
  <p>The r/CryptoCurrency subreddit community responded favorably to the changes in the terms of service. Cryptocurrency exchange <a href="https://crypto.news/kraken-faces-issues-with-funding-gateways-deposits-and-withdrawals-affected/" data-type="URL" data-id="https://crypto.news/kraken-faces-issues-with-funding-gateways-deposits-and-withdrawals-affected/" rel="noopener noreferrer nofollow">Kraken</a> expressed gratitude to the subreddit for sharing updates about the service changes.</p> 
  <p>A Kraken representative mentioned that the exchange is open to adding new digital assets, which has spurred expectations about a potential listing of the Moons token on the Kraken exchange. This speculation may have contributed to the token’s recent price surge.</p> 
  <p> Read more: <a href="https://crypto.news/reddit-positions-the-contracts-for-gen-3-nft-avatars-on-polygon/" rel="noopener noreferrer nofollow"> Reddit positions the contracts for Gen 3 NFT avatars on Polygon </a> </p>
 </body>
</html>

Reddit’s Moons and Bricks tokens skyrocket amidst terms of service change

crypto.news

Other articles published on Jul 18, 2023

Crypto Game-Changer: Aave Unleashes GHO Stablecoin on Ethereum Mainnet!

Ethereum Price Indicators Suggest A Strong Case For More Downsides

CoinGekco’s Q2’23 Report Underscores Decline In Spot Trading Volume

British Giant Bank Barclays Analysts Discuss Ripple (XRP) Victory!

Presale Potential: Comparing Newcomer Golden Cask Club (GCC) to Litecoin (LTC) and Filecoin (FIL)

Bitcoin (BTC) Price Analysis for July 18

Join our free newsletter for daily crypto updates!