via: ftx.com

Reddit Partners With FTX To Help ETH Users to Pay Gas Fees

Reddit Partners With FTX To Help ETH Users to Pay Gas Fees, here are the details!

Reddit x FTX Partnership

Social media platform Reddit and crypto exchange FTX have recently announced their partnership together involving FTX Pay. In their joint statement, the two parties explained that Reddit users will now be able to buy Ethereum directly through the Reddit app in order to pay gas fees for Reddit Community Points.

We’re excited to partner with Reddit to continue their work to empower online communities to harness the power of blockchain,” FTX CEO Sam Bankman-Fried said regarding the partnership.

About Community Points

Community Points are Reddits blockchain-based tokens that were first released in 2020. These tokens are rewarded to Reddit users who submit “quality posts and comments” on the social media platform and was one of the first steps that Reddit had taken as it joined the Web3 space.

Why This Matters

Since its launch of Community Points, Reddit has been seen to be taking massive steps in combining its platform with Blockchain technology, including both crypto and NFTs.

Since its launch of Community Points, Reddit has been seen to be taking massive steps in combining its platform with Blockchain technology, including both crypto and NFTs. 

Related: Reddit Launches New NFT Marketplace On Polygon

With Reddits massive popularity and users, this collaboration with FTX will make it much easier for users to start collecting and using their Community Points, exposing them to the world of blockchain and crypto technology.

Reddit has over 400M (monthly) active users which makes this one of the biggest consumer initiatives in Web3. On top of that, we are always excited about uses of blockchain with deeply embedded utility, which is Community Points. Reddit users and communities will be able to be more empowered and open,” Amy Wu, head of FTX Ventures.

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