According to the news of Coindesk, the popular discussion platform Reddit's recent change in terms of service has caused some altcoins to experience big gains.
The native token Moons (MOON) and Bricks (BRICK) of Reddit's r/CryptoCurrency community, which has more than 6.5 million users, caught the attention of users.
Accordingly, Reddit has made its change to allow trading of Reddit's tokenized community points.
Prior to this change, Reddit was offering virtual currencies and rewards that were subject to certain restrictions that users could buy with fiat currency and were prohibited from selling outside of the social media site.
These restrictions of Reddit also applied to community tokens such as MOON and BRICK. However, the latest update to Reddit's terms of service has removed the restrictions on community points i.e. MOON and BRICK.
With the recent change in this regard, Reddit's explicit permission to trade tokenized Community Points has resulted in the rise of Reddit tokens MOON and BRICK.
What is MOON and BRICK?
Users who join the r/CryptoCurrency subreddit receive MOON as rewards for their posts and comments, which can then be used to purchase premium features in the subreddit.
Users can tip these tokens or spend them for other purposes in the community and store them in Reddit's Ethereum-based wallet called Vault.
Apart from MOON, Bricks token is also distributed as a reward. Accordingly, BRICK is distributed as a reward for users' comments and posts to the r/Fortnite subreddit.
According to CoinGecko's data, BRICK has increased by about 300% in the last two days, reaching the $0.040 limit, but BRICK, which has experienced a slight pullback, is at $0.035 at the time of writing.
Again in the last two days, MOON, which has increased by about 150%, went up to $ 0.34. At the time of writing, MOON continues to trade at $0.3284.
*Not investment advice.
