Illustration by Alex Castro / The Verge
Reddit now lets users purchase Ethereum cryptocurrency on the platform through an integration with FTX, the crypto exchange owned by billionaire Sam Bankman-Fried. In a press release, FTX announced that Reddit users can now use the firm’s payment system, FTX Pay, when managing their blockchain-based community points.
Reddit first rolled out community points in 2020 as a way to reward users for interacting with a community. These points exist on the Ethereum blockchain and are stored in the “Vault,” a user’s blockchain-based wallet that also holds the collectible NFT (non-fungible token) avatars that Reddit introduced last month.
Reddit displays a user’s community points next to their username as a measure of their reputation, but also…