Reddit announces reintroduction of rewards system

Reddit announced on Wednesday that the company will reintroduce its reward system after shutting it down last year. The company stated that most of the reward mechanisms will remain unchanged, but there will be some new additions. For example, there will be new designs for rewards, a new reward button will appear below eligible posts, and a leaderboard will display the highest rewarded comments or posts. Earlier this month, Reddit mentioned the reintroduction of the reward program during its first earnings call as a public company. Users who want to reward posts and comments will need to purchase "gold" coins, which will to some extent replace tokens. On the support page, the company mentioned that the average cost of a reward is between 15 and 50 gold coins. The gold coin package in the Reddit mobile app starts at $1.99 for 100 coins. Users can spend up to $49.99 to purchase 2,750 gold coins. Last October, Reddit shut down its blockchain-based community points program, and Reddit community tokens plummeted.