How Reddit (Web2) is pushing the Development of Web3, Web2.5?

One of the biggest social media platform – Reddit which is incorporated company/ Centralized, is pushing the development of Web3 via Reddit Community Points.

These Community Points are ERC20 tokens based on Reddit Arbitrum network( Layer 1 = Rinkeby testnet, Layer 2 = Reddit Arbitrum), Currently they are on testnet but Reddit is working to migrate them into Ethereum Mainnet – once their scaling solution is done.

These tokens can be used to vote on governance polls, buy premium memberships, convert to Reddit coins, tipping between users and we saw a leak last week showing that there is a chance that these points will be used to buy ads space on the subreddits.

Why it’s important? ~430,000,000 monthly Redditors can potentially be new Web3 users, this is mass adoption and should make a difference on Web3 mass adoption when this project gets officially launched on Mainnet.

For me it’s interesting to see how Web2 companies are trying to stay relevant: Reddit with Reddit Community Points, Twitter with Bitcoin adoption and Facebook with Metaverse.

Maybe Web2.5 is a thing to look at?