Reddit launches contributor program, turning karma into real money

Reddit, one of the internet’s most popular social platforms, has introduced a groundbreaking contributor program that rewards users with actual money for their virtual karma points. This initiative marks a significant shift in the digital landscape, bridging the gap between internet fame and real-world earnings.

The Reddit contributor program enables eligible users, currently limited to those in the United States, to convert their Reddit gold and karma into real fiat currency. This means that, rather than simply accumulating karma points and Reddit gold for their contributions, users can now receive tangible financial rewards.

To participate in Reddit’s contributor program, users must meet specific criteria. They need to be over the age of 18, have accounts that are at least 30 days old, and can verify their identity through Persona and Stripe. Furthermore, only “safe for work” posts are eligible for monetization.

Users’ Reddit karma, which reflects the number of upvotes received on their posts, determines their earning potential. To withdraw money, redditors must earn a minimum of 10 gold within a 30-day period. If this threshold is not met, the balance rolls over to the next month. Users with karma ranging from 100 to 4,999 can earn $0.90 per 1 gold, while those with more than 5,000 karma can earn $1 per gold.

Reddit has also made changes to its gold system. Users can now buy gold directly, with prices starting at $1.99 for one gold and going up to $49.00 for 25 gold. This simplifies the process of awarding gold to high-quality posts. While top users earn $1.00 per gold, Reddit retains approximately 50% of the payment.

These revamped payment programs are introduced during a period of turbulence for Reddit, with some of its user base expressing dissatisfaction due to controversial API changes that have made it challenging for developers to build on the platform. Despite the challenges, Reddit’s move to monetize karma marks an innovative step toward recognizing and rewarding user contributions in the digital age. 

In addition, Reddit recently announced a feature aiming to empower advertisers to connect more effectively with their desired audiences through keyword suggestions. 

Written by Sophie Blake


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