Ethetrader’s donut tokens have reached all time high, jumping by 6x from $0.0004 to now $0.0024 as pictured above.
Those are real dollars for just commenting on r/ethtrader with the token usable to buy the banner at the top of ethtrader or to buy special membership as well as to vote in polls.
One such poll asks for community input on halvening donut’s new supply with the poster stating:
“The idea behind this change is to increase the incentive to generate good content by raising the value of the DONUTs issued each week.”
Just more than 90% of donut holders agree with the proposal to reduce new issuance to one million per week from two million. Meaning thus presumably this will now be implemented.
If it only was so easy to reduce the fairly high new issuance in real eth, but this mooning maybe has less to do with the halvening than with gamers finding out they getting bricks.
So bricks apparently are useful to build stuff on Fortnite, something the sub’s 1.26 million subscribers are pretty familiar with, but now they’re getting tokenized bricks which have nothing to do with the game and are based more on the sub’s contribution.
Plenty of those subscribers were unfamiliar with eth or how any of this works, with quite a few of them asking things like what is eth or what do you do with these bricks.
The answer for now is not much, except special membership, because the bricks are on testnet. So they’re kind of not real bricks right now, they’re more test bricks.
While the donuts are real donuts in as far as you can exchange them on dapps with nearly $40,000 bought and sold in the past 24 hours.
That’s up by a huge amount because the donuts are suddenly relevant in as far as they are the first tokenized community karma and therefore they’re a bit cool now that fortniters get bricks.
People from r/cryptocurrency get moon tokens, but they’re on testnet too, so bit useless for now with plans to move it to main net soon-ish.
Quite interestingly the crypto sub guys have a lower adoption rate of what they’re interested in than the gamers, with currently about 2,200 addresses picking up moon tokens, while close to 10,000 fortniters have claimed their bricks.
The fortniters presumably are less polluted with whatever shilling and counter-shilling goes on in the crypto sub, so all this is new and cool to them.
They get these by claiming them on the reddit app where it appears an address is generated by default with it unclear how they’re going to pay for the token transfer without eth.
Hence maybe why they’re on testnet as on real net it might be expensive to furnish them with a dollar worth of eth, so allowing them then to move the bricks to Uniswap where these gamers can learn the real game: financial trading.
Having an integrated ethereum wallet in Reddit however is kind of interesting as presumably there’s quite a lot of things you can do with that blockchain connection.
Things like gold gilding, for example, can be more an in-game item if that gold is tokenized on eth, so sending the real money to Conde Nast, but the gilded guy potentially gets fairly real money depending on the market by selling the gild token.
One other potential use of this may be voting on mods, including top mods, something that Reddit desperately needs because they have been completely coopted by special political or commercial interests.
Yet as these tokens are given based on comments and presumably upvotes, special interests could probably fairly easily continue to game the platform, if indeed it is special interests and not Reddit itself hiding behind top ‘mods’ with the kicking out of The_Donald for example showing it’s probably more the latter.
So such voting may be more relevant in apolitical subs or where it concerns something that special interests don’t care to game.
As otherwise where it concerns things that really matter, like pervasive manipulative censorship and banning, it’s not clear how these tokens can help much.