Reddit will debut a new contributor program that will enable users to turn gold into real money
X, formerly known as Twitter, launched its Blue subscription plan, which required users to pay for content on the social media platform. Following in similar footsteps, Reddit is now introducing a new contributor program. With this new program, Reddit users will be able to change their virtual accomplishments, like Reddit gold and karma, into actual financial payments.
How does the new contributor program work?
The amount that a user can earn on the platform will be a reflection of the user’s Reddit karma. In simple words, it is an indication of the upvotes received on a post and comments. Karma in the range of 100 to 4,999 will amount to $0.90 for each gold point, whereas above 5,000 karma points will make users earn $1 for each gold point collected. In order to cash out the earnings, users are required to collect at least 10 gold points within a month. In another case, the earnings will roll over to the next month.
Eligibility criteria for the Contributor program
The program is currently available to US users who are above 18 years old. Moreover, the program requires users to verify their identity with Persona and Stripe. Additionally, users need to keep their accounts “in good standing” and reach certain karma criteria. Additionally, individuals can access the program page via their profile menu to determine whether they qualify for the Contributor Program. They can discover the “Get Verified to Start Earning” button if they meet the criteria.
Besides this, the company is introducing some significant changes to the gold system and its UI. Notably, the posts will now feature a gold upvote icon. It is a substitute for the standard icon. Gold can now be directly purchased, rather than buying coins to purchase gold and other awards. Prices range from $1.99 for one gold to $49.00 for 25 gold, indicating that the platform keeps about half of the money.
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