Numerous subreddits on Reddit, including prominent crypto subreddits, decided unanimously to go private for 48 hours in protest of new company policies prohibiting the use of third-party applications.
Reddit announced in April plans to modify how users interact with the Reddit Data application programming interface (API). This seven-year-old application allows developers to create tools and utilities for moderation and other activities.
Reddit’s intention to develop native moderator tools directly impacts the community’s ability to create and use third-party tools that are predominantly used for moderating content and interactions.
Consequently, communities decided to make their forums private or read-only between June 12 and June 14 to protest the impending change.
The list contains prominent crypto communities that have helped millions of global investors discuss various aspects of the ecosystem.
r/Bitcoin, r/CryptoCurrency, and r/cardano are prominent subreddits devoted to Bitcoin and cryptocurrencies protesting the change. Additionally, Reddit has received criticism for introducing paid access to its data API.
It was estimated that nearly 3,500 subreddits would become inaccessible, but that number could rise if other communities joined the revolt. Steve Huffman, CEO of Reddit, defended the social media platform’s decision by citing the need to be “a self-sustaining business.” He said:
“We respect when you and your communities take action to highlight the things you need, including, at times, going private.”
Reddit plans to launch mobile moderator tools for its iOS and Android applications in the coming months to eliminate the widespread use of third-party moderator tools.
Contrary to the ongoing community backlash, Reddit is near to achieving a new milestone regarding collectible avatar holders on the platform.
Within one year of introducing Reddit NFTs, Reddit amassed 10 million collectors for its collectible avatars.
Reddit’s marketplace for collectible avatars was launched on the Ethereum layer-2 scaling network Polygon in July 2022, allowing Redditors and independent artists to design nonfungible token collections.
