Will New Reddit Cryptocurrency Shares Give Users Any Real Power?
As part of a recent round of funding, Reddit plans to distribute shares to its users in the form of a cryptocurrency.
Reddit is playing a long game when it comes to growth as a social network. After the recent announcement of $50 million in funding, users and pundits are wondering how Reddit will develop in the future. One of the main topics of interest is what shape the proposed Reddit shareholders cryptocurrency will take.
The current round of funding came from a variety of sources. The interesting thing is that 10 percent of the shares it generates will be given to the Reddit community in the form of cryptocurrency, a vision being championed by Reddit CEO Yishan Wong.
Sam Altman, a venture capitalist and one of the recent investors, is a big proponent of the distribution of shares.
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