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Reddit’s blockchain-based “Community Points” rewards crash after sunsetting::Tokens based on subreddit reputation saw dips over 85% after the announcement.
The belief amongst some is that reddit basically did a rug pull. People could and would buy these crypto points with real money, so reddit likely made money. Odds are it just was not successful outside of niche subreddits, hence:
Crypto also hopefully seems to be on the decline, and it’s possible Reddit did not want to appear to be behind the times.