A user on Reddit made 0.92 BTC from his Moon tokens
Some time ago in 2020 Reddit added some erc backed tokens on two subreddits, don't think there have been any more of them so far, but one was the popular r/cryptocurrency subreddit, which also made sense that they'd be the first to get it. The other was r/fortnite and their token was called Bricks, which for you who don't know the game is a material used in the game to build walls which is what it mostly revolves around aside from being a 3rd person battle royal game.
This was huge news but at the same time many felt ETH wasn't ready to handle this, it sparked the great reddit scaling bake-off thread which was basically teams posting about how this point system would scale well on their chains. Some of the ones that did well (or had a lot of vote buying, brigading, etc) were OMG and DragonChain. Not going to talk more about that thread, but for now the point system has just been as is. Not much you can do with it internally except buy some things inside Reddit which are just as useless as Reddit gold, such as badges, emotes, and to use gif in comments (imagine having to spend money/currency to use gifs in your comments - I'm sure us Hivers/Leons(is that what you're called?) would puke at the thought of that. The way it works is that karma is counted on a monthly basis by everyone active in r/cryptocurrency, not sure how exactly it is shared between posters and commenters but I remember that the moderation team gets 20% of the newly distributed tokens. There was also an airdrop based on past earners, I'm not sure there about the timeline either but I received roughly 6k tokens for some of my activity from who knows when cause I've barely been active on Reddit the past few years.
Since these tokens aren't really on an exchange yet, some people decided to come up with some solutions (like they usually do if you think about Uniswap and how no matter what coin in question someone can just boot up a trading pair for it) to trade it. I'm not exactly sure why this isn't happening on mainnet of ETH and Uniswap as mentioned but the only place you can trade it right now is on the Rinkeby testnet on an exchange called Honeyswap: here's a direct link to the trading pair, currently trading at roughly 1cent per coin.
The user that had made such profit, as mentioned in the title to get you clickbaited into reading all of this, had mentioned that he had spent a lot of time nolifing on Reddit and amassed over 80k Moons, as the exchange solution came online in the very beginning, when BTC was still trading around $10k he had sold off all of his 80k tokens at a price of 8-13 cents per Moon. Had since held the BTC and it's now worth close to $30k, not bad for doing what you do on most platforms and get nothing in return, right? Oh right, this is Hive, we've used that saying quite a bit in the past and are familiar with it.
Moons only has a total supply of 48m tokens, I'm not sure about it's monthly distribution/inflation and even less sure about what you will be able to do with it or what their plans are, and I'm guessing most importantly what Reddit will allow you to do with them.
As for the distribution, I've mentioned this in the past when I was comparing the Reddit point system integration with ETH to Hive (Steem), but I'm personally not a fan. No, not because I'm scared one of the top 3 websites in the world will make Hive irrelevant thus I'm trying to live in denial and pretend it doesn't exist, guess this post wouldn't have been written if that was true. The problem to me is that Reddit's database is and will most likely always remain hidden from the public's eyes. Imagine Hive without a block explorer or usernames behind every vote and the clusterfuck that would cause aside from the drama downvotes bring to us today, although not really as much as you'd think if I'm being honest, maybe cause prices have been stagnant at the bottom for a while now.
There's been plenty of abuse of Reddit's voting system, black market buying of upvotes and downvotes and accounts, sockpuppeteering (for instance a popular user at the time called u/Unidan would go ahead and share his knowledge of nature and stuff in comments and you'd always see him voted up a lot, now of course he may have deserved it but he got busted for using an army of socks to vote up the comment in the beginning to "get the ball rolling", or that user that was top of r/videos where the video was about him talking about how he bought all the votes to get himself there) - not sure why I decided to write all of that inside the parenthesis, the rest of the sentence now looks stupid so I'm gonna end it here and start again. Not to mention the amount that Reddit themselves may use it to their advantage. Is it a surprise when we've seen what people do about money, how they bow down to advertisers that god forbid they'd use their own website and hidden database to give themselves some attention karma to promote something or someone? They'd be idiots not to at this point cause they're too big to fail so there's plenty of leeway and no real risk to do whatever they please, same goes for many of the accounts there, if caught, oh no they lose an account that they can re-create with an email in a few seconds or buy a used genuine looking account that some people in countries with a worse economy have grinded up for that particular purpose. Nah I think I'd prefer a public ledger even if the usernames and people behind them can be anonymous, their history and actions will tell me a lot more than random downvotes that can't be explained.
Anyway, if you want to check if you've gotten any Moons for having been active in the r/cryptocurrency subreddit, you need to download the Reddit app on your phone and login there, a few seconds later clicking on your profile you'll see the "vault" and probably get your airdrop unless it expired or something, I don't know.
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