Reddit Introduces Compensation for engaging posts

Reddit has announced its plans to pay its top contributors for popular posts, beginning in the US. The social media platform will split revenue with users who receive "gold" awards from fellow users, who pay a fee for these awards. The price of gold awards will range from $1.99 to $49, with users receiving up to half of that amount. This move comes after Reddit faced backlash in June when much of its platform became inaccessible due to protests against its senior management. While most groups have returned to the platform, some notable absences remain, including a subreddit dedicated to transcribing images for visually impaired individuals. Subreddits are forums within the Reddit platform where users gather to discuss specific interests. Unlike other platforms, Reddit users, or Redditors, typically join various subreddits instead of following individual users and view posts from these communities in their feed. Gold has been a long-standing feature of Reddit, originally intended as a virtual reward for well-liked posts or comments. However, it had no real-world value and served more as an affecting factor in a user's experience on the site. Now, the introduction of monetary rewards has received mixed reactions from the Reddit community. While some express concern that it may negatively impact the platform's content, others remain cautiously optimistic. Social media expert Matt Navarra believes that rewarding valuable users is necessary and provides them with income-generating opportunities. However, he also acknowledges that incentivizing users with real money might lead to the promotion of divisive and controversial content. This has posed challenges for figures like Elon Musk, and Reddit's founders may also face similar issues.