Reddit, the popular social site known for hosting gaming communities, has launched a new Contributor Program that will provide monetary rewards to users for their valuable contributions. The program aims to incentivize redditors to create quality posts and shares by offering them financial compensation.
In order to be eligible for the program, users must meet certain criteria, including being over 18 years old, residing in the United States, and having a minimum of 100 reputation points and 10 gold within the past year. Additionally, users are required to complete a verification process by submitting their tax and identification information.
Once accepted as contributors, users will be assigned a “Contributor Level” based on their yearly karma and gold minimums. It's important to note that users will only receive payment if they meet these minimum requirements.
The payment process begins 30 days after the end of the month in which users reach their minimums. For example, if a user meets the minimum requirements on October 18th, Reddit will pay them within 30 days after October 31st.
To determine the payment amount, Reddit considers the user's monthly karma balance. However, exceeding the minimum threshold does not significantly impact the payout. For instance, if a user has accumulated 100 karma since September 25th, their October payout will be $9 (equivalent to 10 gold at $0.90). Even if the user earns over 5,000 karma, the October payout will only increase slightly to $10 (equivalent to 10 gold at $1).
In addition to the Contributor Program, Reddit has also made changes to its gold system. Gold, which is a purchasable upvote that users gift to others, will now have a new user interface. Users can choose from six gold awarding options, starting at $1.99 for one gold and going up to $49.00 for 25 gold. However, gold will not be available in NSFW (Not Safe for Work), trauma support, or quarantined subreddits.
While the introduction of the Contributor Program and changes to the gold system aim to improve the Reddit experience and discourage exploitation, some concerns have been raised. There is a possibility of spam posts and “karma farming” as users seek to generate engagement and earn money. However, despite these potential challenges, the program provides an opportunity for users to be rewarded for their valuable contributions within the Reddit community.
Sources:
– Reddit Blog (https://www.reddit.com/r/blog/comments/pzck8k/community_creation_update_launching_the_reddit/)
– Reddit Program Announcement (https://www.reddit.com/r/announcements/comments/pz3rnw/program_announcement_contributing_to_the_reddit/)
