Reddit, the widely used social networking platform, has announced the launch of a new contributor program. This initiative will enable users to turn their Reddit gold and karma into real money. In a recent blog post, the company revealed the details of this program while introducing a simplified method for awarding content with Reddit gold. Eligible users will be compensated on a monthly basis for their contributions to the platform.
On Monday, Reddit unveiled the contributor program, committing to provide actual fiat currency to qualifying Redditors and moderators for their input on the platform. To qualify, users must be at least 18 years old, reside in a supported location, and possess a Reddit account. According to the blog, “Once enrolled in the program, redditors will receive monthly payments calculated based on the karma they earn and gold received for their eligible contributions.”
The contributor program is currently being rolled out across the United States on the Web, iOS, and Android Reddit applications. Eligible users can access the program through their profile menu, where they will find the ‘Get Verified to Start Earning’ option to enroll. Details regarding the payout structure for users have yet to be disclosed by Reddit.
In addition, Reddit has introduced a more straightforward approach for users to gift Reddit gold. The updated gold system allows users to long-press the upvote icon on mobile devices or hover over it on desktops directly within posts or comments they wish to reward. A pop-up will present six gold options, ranging from $1.99 (approximately ₹165) for one gold to $49.00 (approximately ₹4,077) for 25 gold. This change will replace a standard upvote with a golden one. Initially, this feature will be available in select communities on Reddit’s mobile apps, with plans to expand to other communities soon. A web version of the new gold system is expected to launch later this year.
This latest initiative follows months of upheaval for Reddit, during which thousands of popular subreddits went dark in protest against the company’s decision to monetize access to its data. Reddit has begun charging third-party app developers for access to its application programming interface (API), leading to the shutdown of many popular third-party apps, including Apollo. The developers of Apollo indicated that the new charges could cost them more than $20 million (around ₹160 crore) annually given their current usage levels.
