 | Reddit makes money through advertisements, it's known fact user's don't like seeing ads and Reddit was careful to not push it on users, which meant Reddit was prioritizing growth and never reported annual profit even with growing platform and revenue! But this will have to change with Reddit going IPO, to satisfy wallstreet they will have to monetize the platform more! How? Reddit has already a plan for that - Moons and Reddit Community Points through changing their entire business model We have now seen with Banner that users do like ads, if they make profit from it. By creating and seizing the value of their contributions through Moons, it's US who can profit from ads targeted at US! But what about Reddit? Steve Huffman CEO of Reddit: It's an entirely new business model! Subreddits as Media Companies and Marketplace Trading Avatars. Reddit will act as a housing entity, taking their cuts in economy that will form! Reddit will use this model to storm the web3, satisfy wallstreet and ultimately create an entirely new business model for others to follow.
How did it all start? Is it with this Vitalik's comment on Reddit? No. Let's go further back for a minute Back in 17th century Europeans traded with New England Natives, but the natives didn't use silver or gold, they used durable skeleton parts of their pray. Mostly sea-shell money - wampum, strung onto pedants. Wampump that spread far away from clam's habitat into other tribes. They also used teeth, furs, made artful blades and necklessess. Blades that weren't made for cutting but for sheer enjoyment. Collecting and decorating things originates all back to Africa. People like doing things for fun, it's irrational and not practical but we do it. We trade with it or pass it to our children. Like some animals, humans learned that non-kin altruism grew community stronger and put trust in it's members but people can only track a certain number of people. Internet and now social apps let us scale much more. Just like primitive people's traditional craftmanship and folklore, nowadays there is huge number of intangible things that people find value in. Supporting your football club, company's logos branding, memorabilia, deep feeling for you country and dying for beliefs. Moons and broader Avatars, represent more then lines of code and can spread much further from our community. We put our emotions, thoughts and feelings into our contributions and grow our community . Tipping makes our community stronger. Moons represent our journey and place in the community. This fundamental idea that you can capture and store value created by your contributions to the Community is a new paradigm in using social apps. Moons are proof that you own that something. Reddit's idea to decentralize the platform and give us this freedom to transact the wealth generated by our digital identities is unique in social app sphere and will change the very underlying fabric of social apps. $1 Moons with only like $100m mcap is safe to say will be just the beginning. Big exchanges listings, hype and media that will follow will bring huge influx of new people lining up to join us, earn Moons and we will grow, change and work things out together. Moons are special and we are just getting started! [link] [comments] |
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