this post was submitted on 14 Jul 2023
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Reddit is getting rid of its Gold awards system (www.theverge.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Reddit is going to sunset its current coins and awards systems, meaning you won’t be able to buy Reddit Gold for posts you like. However, it is working on a new system for awards.

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[–] zeppo@lemmy.world 8 points 1 year ago

Facebook/IG have certainly made a ton of money. Twitter and reddit haven’t I believe because they’ve been less aggressive about monetizing their data, and having a site with content attractive to advertisers. This also attracted users who were on Twitter or reddit because they weren’t doing what FB does, which I guess makes it difficult to increase monetization.