In a move that has sparked controversy among its users, Reddit has announced the discontinuation of its coins and awards system. This decision comes shortly after the platform faced protests over API changes, further adding to the frustration of its community. While Reddit has assured users that a new rewards system is in the works, no specific details regarding its launch have been provided. Previously, users were able to purchase Reddit Coins and use them to award others on the platform.
Effective immediately, Reddit has ceased the sale of new coins. However, all existing coins and awards will remain available until September 12, 2023.
According to a blog post by Reddit, the platform is making this change to simplify its interface. The company claims that users have expressed their dissatisfaction with the clutter caused by awards and the complex process of granting them. As a result, Reddit is working on a complete overhaul of its rewards system but has yet to disclose the specifics of the new system.
The company stated, “It’s become clear that awards and coins as they exist today need to be re-thought, and the existing system sunsetted. Rewarding content and contribution (as well as something golden) will still be a core part of Reddit. We’ll share more in the coming months as to what this new future looks like.”
To provide context, the Reddit community utilized coins and awards to recognize noteworthy contributions from fellow members. Awards were represented by icons displayed on posts throughout the platform. Reddit initially introduced Reddit Gold, which later expanded to include other awards such as Reddit Silver, Platinum, Ternium, and Argentium. Presently, there are over 50 types of awards available on the platform.
Reddit has promised to reveal more information in the upcoming months about a “new direction for awarding” that will empower users to recognize high-quality contributions on the platform. The company aims to create a simpler, user-friendly, and comprehensible system.
However, the decision to retire the current rewards system without immediately providing a replacement has left users frustrated, as it leaves a void in the platform’s reward structure.
“Killing features without replacements ready, yep sounds like Reddit to me,” expressed one user in response to the company’s announcement. Another user commented, “In other words, you’re removing a popular feature and charging the same amount for premium.”
Reddit’s recent announcement follows ongoing backlash resulting from its decision to charge developers for access to its API. This move sparked protests from various subreddits and moderators. Despite the criticism, Reddit CEO Steve Huffman has stood by the company’s decision. At present, it seems unlikely that there will be any substantial changes to the API pricing structure.
