Reddit, the popular online platform, has recently announced a significant change that has sparked anger among its users. The company revealed that it will be discontinuing its coins and awards system. Although Reddit plans to introduce a new rewards system, no specific details regarding its launch have been provided.
In the past, Reddit users were able to purchase Reddit Coins and utilize them to give awards to fellow users. However, as of today, the ability to purchase new coins will be disabled. Existing awards and coins will remain available until September 12, 2023.
The decision to sunset the current system is motivated by Reddit’s aim to simplify its platform. The company acknowledged users’ complaints about the clutter caused by awards and the complexities involved in awarding content. Consequently, an overhaul of the rewards system is underway. Unfortunately, specific information regarding the new system’s features has not been disclosed yet.
Reddit emphasized that rewarding content and contributions will continue to be a core aspect of their platform. They assured users that they are committed to creating a better future for rewards on Reddit but did not provide a timeline or specifics about what changes are in store.
For those unfamiliar with Reddit’s coins and awards system, it allowed community members to recognize valuable contributions made by others in various ways. Awards were displayed as icons accompanying posts on the platform. Over time, Reddit introduced several types of awards such as Reddit Gold, Silver, Platinum, Ternium, and Argentium. Currently, there are more than 50 types of awards available.
In the coming months, Reddit plans to share more information about their “new direction for awarding.” The company aims to empower redditors (Reddit users) and provide more meaningful ways to reward high-quality contributions on the platform. Their goal is simplicity and ease of use for all users.
However, this decision from Reddit has left many users upset since it means there will be no rewards system in place during the transition period. Some users expressed frustration with Reddit’s practice of removing popular features without immediate replacements. Others voiced their concern about paying the same amount for premium services without the benefits of the previous rewards system.
This latest announcement from Reddit follows a recent wave of backlash due to its decision to charge developers for API access. The change caused protests from various subreddits and moderators. Despite the ongoing criticism, Reddit CEO Steve Huffman has defended the company’s choices in recent weeks. It appears that Reddit remains firm in its decisions, and significant adjustments to the API pricing structure are unlikely.