Reddit tokens coming ?
Reddit Launches some loot tokens for reputation and rewards on ethereum.
2 new types of loot tokens have been created. It’s a token on the Ethereum blockchain that is earnable within a community rather than purchased. They signaled that their plan to pivot the company’s monetization strategy more towards crypto. Interesting tidbit. And This overall initiative is referred to as “Community Points” and builds on the early experiments from /r/Ethtrader donuts.
What are the two loot tokens called?
Reddit launched “Moons” ($MOONS)
for /r/Cryptocurrency and
“Bricks” ($BRICKS) for /r/ForniteBR
I wonder how they plan on getting away with “bricks” considering LEGO uses bricks and such and doesn’t really like when people use their lingo for business revenue.
The tokens are available on specific subreddits on the new Reddit theme and in the app.
Users will be able to access the tokens in their Reddit “vault” an in-app ERC20 wallet available on both iOS and Android.
Basically a crypto wallet in a sense.
Reddit will distribute these tokens initially based on Reddit Karma to represent compensation for the value that users have contributed to the community overtime.
Reddit itself will keep a portion of the tokens in each subreddit, and award a small portion to the community moderators for managing the subreddit.
On the launch day there will be an initial distribution of 50M tokens covering previous activity in the subreddit, and then the remaining tokens will be distributed month over month diminishing with each monthly distribution until it hits its cap of 250M tokens for each individual subreddit.
Reddit has indicated that the community will also have some ability to govern the model of distribution with in each independent subreddit.
What can you do with Reddit Loot ?
The Community Points Program issues a type of loot token on the Ethereum blockchain. So you can earn loot in the community as well as redeem it within the same community.
One major usage is using these tokens to tip other users. You can also buy badges and awards, take part in weighted polls, or buy a special membership to each particular subreddit (that gives you a colored user name, specialty loyalty badges, and the ability to embed gif replies in your comments.)
Economics of the loot tokens
The economic model has three key points:
1) Number of tokens issued diminishes over time, and can only be earned from human effort.
2) All future human effort earns less tokens than all prior human effort. There is a hard cap of 250M tokens in a subreddit. There will never be more than 250M $MOON tokens.
3) Every time $MOON tokens are used to buy badges, memberships or for any other action on Reddit, they are burned. (destroyed !).
The price of an asset increases as supply lowers and demand increases
So the more active a community is and the more value it creates for its users, the less tokens will exist over time.
Tokens will have a lower supply, but, a greater demand.
Any other usages ?
Moons and Bricks are both ERC20 tokens on the Ethereum blockchain, you can do whatever you want with them.
In the Reddit app your wallet is a full Ethereum wallet that has a private key and recovery phrase. You are able to use that wallet anywhere you would normally use an Ethereum wallet by exporting it.
This means that once you claim your tokens you own them and no one else has access to them. Not even Reddit.
While these tokens started their journey with Reddit, they ultimately represent value created within a specific interest group, and could start to proliferate across other mediums.
If you want to list your tokens on exchanges to sell, you can do that too.
While Reddit is very likely to continue exploring new features to redeem these tokens for, the tokens are fully decentralized and can be used by anyone in anyway.
Interesting stuff and use case.
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Artificial Intelligence, especially Computer Vision, image and video recognition analytics and procedural machine learning automation integrated with Virtual and Augmented Reality are pushing technology, businesses and industry into the future. As remote and virtual And on demand food deliveries became the norm during covid quarantines, we are heading into this new future and reality whether we want to or not.
Google Swirl and 3D programmatic advertising and marketing will become the new norm.
What is Swirl ?
Swirl lets consumers engage with a product like it’s right in front of them by allowing them to rotate, zoom and expand the 3d version of an object in the ad.
Swirl 3D ads allow brands to illustrate changes in behavior, new technology performance, unique product features and utilized within some AR programmatic ad, it’ll make the entire customer experience interactive.
One example :
adidas Latin America highlights innovative product design
adidas LATAM was looking to capture user attention and showcase the innovative redesign of the adidas Ultra Boost 2019 shoe. adidas LATAM and creative agency EdgeDNA created Swirl ads that allow prospective buyers to get an up-close look without having to visit a store.
Swirl ads drove a 4x higher engagement rate than rich media benchmarks and had an average viewable time of 11 seconds, which indicated that the ad captured user attention.
The 3D creatives also drove a return on ad spend (ROAS) of ~2.8 for the Colombia market.
Brands are seeing great success using Swirl ads for various campaign goals. This includes increasing consideration by showcasing product features, building brand awareness and delivering a great mobile experience.
Read the google article Below and contact Pagarba Solutions to get you started today ,
Virtual Reality has been around for quite some time now. When I was a kid people spoke about this virtual world. Virtual games. Virtual lives. Early internet portals like Compuserve, Prodigy and AOL made you believe in this future. Even BBS boards and text driven games with monochrome screens made you feel like you were in a different world. Open up your creative Imagination. It was cool and the future. At least we hoped.
The Early games on Commodore 64 and other cloned PC 8088 computers and 300 baud modems were exciting. You were also called a geek and dork by most folks. But Hey when we got a 1200 baud modem, yeah that was awesome.
Playing games and programming in BASIC and turbo Pasal made me dream of being in and buildings worlds like Gauntlet , Ultima III , eye of the beholder , star control 2, wing commander earl weavers baseball , and Pete rose baseball.
Imagine tying to upload and download a large game like Wing commander on dial up back in the day? My friend Dan and I tried to do that. Often. Those were the days.
So what’s any of this have to do with Virtual Reality ?
Creative Imagination to expand the human experience is what power VR and AR holds. Interactive experiences open up an infinite number of imaginary worlds where you are part of the living story. And doing this while never having to leave your own home.
Communicate, collaborate and interact with your long-distance friends and family in ways that were never possible before. We see early successes and awesome possibilities with headsets like oculus and htc vive and Microsoft hololens.
Today, designers , creators and developers can alter a VR or AR experience as per their own interests. It is also important that the developer and players control a huge amount of personal information provided by players. Decentralized Systems and blockchain will be huge for many things going forward , including virtual and augmented reality.
The combination of virtual reality and blockchain can decentralize the future platforms and applications. It changes the dynamic by giving control of the virtual online world back to the players and visitors.
Taking a step back. Virtual reality is more players , visitors and participants. Current and legacy coin terms more like users , watchers , and viewers. An interactive virtual world where Creative Imagination Experiences rule the day is all about visitors, players and participants.
Where are we now ?
There is a second life and Minecraft like virtual world on blockchain now called Decentraland. Visitors and players can buy a plot of virtual land with the platform’s cryptocurrency called ‘MANA’. They can then build anything as per their liking such as a building, house or a virtual neighborhood and then populate it with unique virtual objects.
They can host social events and even turn it into a profitable business if they are forward thinking. The virtual landowners in Decentraland can even monetize their worlds by selling or renting ad space in exchange for MANA.
It’s Early stages now and only works on desktops / laptops and the latency is poor. But it’s still a sign of the ready player One and the matrix future to come.
Taking decentraland virtual world powered by blockchain into consideration, the future value of VR might be more decentralized and open. This might help people understand how crypto actually holds value and can function better in the real world as well. In the virtual world, bitcoin or some other crypto token is governed by incorruptible intelligent smart contracts. As these things improve, many are suspecting a surge of people demanding the exact reality in the real world. People do not want corrupt governments and archaic governance anymore. Coronavirus can further boost this concept because of its social distancing and less contacting measures.
By creating a virtual world that entirely runs on the blockchain, it can help provide a template for ways blockchain functions in the real world. And it just works. Behind the scene. The creative imaginary interactive virtual mixed reality worlds will change the world. For real this time.
In your opinion, how far out are we from consumer-grade AR glasses reaching the market?
I think we are 12 to 24 months from the next inflection point with AR and consumers. I do think Pokemon Go was the first inflection point. It really familiarized the average consumer to the opportunity that there was with AR, and the delight that AR can provide. Other companies have continued to expand on that journey and that opportunity. But I think the next inflection point, as it relates to new form factors and potentially new experiences that those form factors unlock, is somewhere in the 12 to 24 month range.