Thanks to MOON, a community token for the r/Cryptocurrency subreddit, some Redditors can already beat the hourly minimum salary just by posting popular posts or comments on the aforementioned subreddit.
After the user u/whatthefuckistime posted an image that shows how many upvotes per hour one needs to beat the hourly minimum salary by country, a Redditor from Brazil commented how he only needs 52 upvotes per hour to beat his country’s minimum salary.
„Nuts if you ask me“, the Brazilian Redditor commented excitingly.
„It is awesome that someone can basically have a second job shitposting on Reddit while they’re not mining fiat”, commented another Redditor, to which someone replied; „YouTubers do the same thing. With videos. It ain’t that different“.
The image was made by using the MOON price from August 2nd 2021 when the coin reached $0.41. It used the speculation that you could get 0.3 moons per upvote, which was the case last month.
Some say that the price of MOON token is surprisingly high knowing that that you get these Moons for something that people have been doing for years for free, and that Moons have a limited use cases.
As one Redditor pointed out; „I know there might be a potential future where Moons will have inherent value except for being exchanged for Reddit points but as for now this is entirely up in the air”.
For now, except for buying Reddit coins, Moons can also exchanged as a speculative asset. They are also used for voting to improve the system of MOON Token Governance.
As with any other crypto, many MOON holders are hoping that the price could pump big time, but in order for Moons to „reach the Moon“ there will need to be a ton of demand.
Fact is that the current usages could hardly generate such demand – and this prompts the question of Moons’ future use cases.
One of the possibilities is to use Moons as Ad tokens, for something close to Promoted User Posts on Reddit.
This was an ad type Reddit introduced five years ago that essentially let an advertiser identify an organic post that they find especially relevant to their brand or product, and promote that in the Sponsored unit Redditors are already used to.
Moons could work in a way that potential advertisers could pay in Moons for pinning a post on top of r/Cryptocurrency subreddit. Moderators should have to option to decide if ads will be approved.
As the subreddit is a place with millions of users, this could lead to increase in demand for Moons, thus rising the price. r/Cryptocurrency subreddit is perhaps the best place to promote crypto related content, and crypto marketing is worth billions. Ads could be used for promoting ICOs, DeFi protocols, or the promotion of purchasing, selling or trading cryptocurrencies, and using Moons as Ad tokens could fuel a gold rush for this crypto.
Negative side effects of this could be that r/Cryptocurrency subreddit could become an ad infested forum which could antagonize users and force them to unsubscribe. This is a legitimate concern as Redditors hate Reddit advertising. Reddit used to be entirely ad-free for a long time while juggernauts like Digg were still around and popular. But Digg killed itself with its own advertising strategy, effectively driving away its entire userbase. Letting Moons to be used as an advertising token for Cryptocurrency subreddit could seriously harm the subreddit, and this is a reason why using Moons as a Ad token should be carefully thought out. All pros and cons should be assessed.
Another concern is that using Moons as advertising tokens could also open the door for cryptocurrency scammers to flood subreddit users with manipulative ads.
Thankfully, Redditors pay attention to comments and many commentators are intelligent enough to recognize manipulative scams. In an ideal scenario this would mean that, when a scammer “promotes” a post, even if this post “fools” the moderators, there is a high possibility that the top comments in the thread are going to be „shitting“ on the poster and his scam. This should discourage scammers – the assumption is that they will be unwilling to buy Moons and spend money only for their scam to be exposed in front of millions of crypto enthusias.
Another question that arises is how many Moons would an ad cost, and what would happen with the coins that are paid for advertising.
One of the options is that the Moons paid for ads should be removed from circulation (burned), thereby slowing down inflation rates and reducing the total circulating supply of coins – while a small portion could be used to pay the moderators for the increase in work they will have to do if this use case for Moons would be accepted.
Burning of Moons would also cause the spike in price of Moons as they have a total supply of 250 million.