Reddit users can now get paid real money in exchange for their contributions on the social media platform.
The company announced this week that it was introducing a new contributor program that allows users to convert their Reddit gold and karma into fiat currency that will be disbursed on a monthly basis. The fake internet points are gained by posting engaging, high-quality content that users find entertaining or helpful.
"We're simplifying the experience of awarding content that redditors like with a new gold system," the company said in the announcement. "To purchase and award with gold (or 'gild'), redditors can long press the upvote icon on mobile (or hover over it on desktop) directly within the post or comment they want to reward."
For now, Reddit's monetization program is limited to users in the United States who are over the age of 18 and can verify their identity. Their account must also be at least 30 days old and users won't be able to earn money on posts that are deemed "not safe for work" — including things like nudity, violence, and gore.
Reddit is offering six different options for awarding gold, starting at $1.99 for one gold and up to $49 for 25 gold. In order to withdraw money from the site, users will need to earn at least 10 gold within a 30-day period, and if they don't reach that limit then the balance will roll over.
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Elon Musk's social media platform X recently launched a similar monetization program, in which some users can earn ad revenue based on the number of impressions their posts receive. But these new methods have raised some concerns about incentivizing people to post spam content or "engagement bait."
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