July 17, 2023
Reddit has revealed intentions to phase out its coins and awards system, which is granted by users and shown as symbols under posts. They include the well-known “Reddit Gold” award, which is represented by a gold medal with a star. Users have to spend coins in order to get and distribute these rewards.
The firm stated that it is rewriting how excellent content and contributions are recognized on Reddit, adding that the new method would be “more valuable to the community.” However, many users are dubious about the new approach, and some have even said that it may “kill Reddit.”
The coins and awards system was introduced in 2013, and it allows users to buy and give out virtual gifts to other users. The most popular award is Reddit Gold, which gives the recipient a month of ad-free browsing, a special badge, and other perks. Reddit said that it will continue to allow users to use existing coins and awards until September 12, 2023. However, after that date, the coins and awards system will be discontinued.
The announcement has been met with mixed reactions from users. Some users have said that they are glad to see the coins and awards system go, while others have said that they are disappointed that Reddit is getting rid of a popular feature.
The sources for this piece include an article in BusinessInsider.
