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Reddit Tokens Moons and Bricks Surge with New Terms of Service

Discover the significant price gains of Reddit's Moons and Bricks tokens following changes in Reddit's terms of service, and explore the implications for the cryptocurrency community.
Published on 2023-07-18

Reddit Tokens Experience Remarkable Gains

The native tokens of Reddit, Moons (MOON) and Bricks (BRICK), linked to the popular r/CryptoCurrency and r/Fortnite subreddits, have seen impressive price surges. Moons, associated with the vast r/CryptoCurrency community, have increased by 358%, rising from $0.09 to nearly $0.45. This surge was observed following an update in Reddit's terms of service.

Moons and Bricks Token Details

Moons are ERC-20 tokens awarded for user contributions to the r/CryptoCurrency subreddit. They can be traded, tipped, or used for various community activities, and are stored in Reddit's Ethereum-based Vault wallet. Meanwhile, Bricks rewarded to the r/Fortnite community, surged by 657%, climbing from $0.005 to $0.052.

Impact of Reddit's Terms of Service Update

The recent change in Reddit’s terms of service has explicitly allowed the trading of verified virtual goods, including tokenized community points. This update has sparked interest and speculation within the communities, contributing to the rapid increase in the value of MOON and BRICK tokens. The removal of non-tokenized Coins and Awards also aligns with this shift.

Trading Community Points

Trading community points such as Moons and Bricks is now more accessible, albeit challenging through the Reddit app. Users need to export their private keys from Reddit’s wallet into a crypto wallet to trade on platforms like Arbitrum Nova DEX.

Future Prospects and Community Reaction

The r/CryptoCurrency community has responded positively to these developments, with expectations that major exchanges like Kraken might list MOON. This anticipation is partly fueling the tokens' price momentum. Reddit's focus on tokenized community points could further enhance the utility and value of these digital assets in the future.

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