One of the largest cryptocurrency exchanges, FTX announced that it has partnered with social media platform Reddit. The partnership aims to combine the payment solution FTX Pay with community points. The integration has been implemented in the US, EU, Australia and other countries around the world.
—FTX (@FTX_Official) August 9, 2022
The payment solution FTX Pay sure Reddit
community points Reddit they are a way of measuring a user’s reputation within their community. The period appears next to the username, which means that anyone can see your “score”. Points are built on the blockchain Arbitration New starand the “credibility” of a user can be seen on all blockchain approved platforms.
According to the press release, the CEO of FTXHe sat fried bankersaid the crypto firm looks forward to working with the popular forum site Reddit.
“We are delighted to partner with Reddit to continue his work to enable online communities to harness the power of blockchain.”
the integration of FTX Pay means that social media followers can to buy Ethereal from compatible cryptographic applications in Reddit In addition, it is also possible to use it for pay network fees Community Spot. Additionally, the features will be supported in different markets, including the US, EU, and Australia.
Also read: Thailand wants to give its central bank more powers in regulating cryptocurrencies.
The use of cryptocurrencies beyond investment
The founder and CEO of FTXHe sat fried bankerhe recently shared his thoughts on how to use crypto outside of investing. This focusing on payments, market structure and social networks.
According to SBFpayments are currently slow, expensive and complex. However, the blockchain and cryptocurrencies could “allow anyone to create a wallet and use it to send and receive tokens, including USD-pegged stablecoins.”
As far as market structurethe founder of FTX noted that there is currently “liquidation risk.” In fact, the markets are overwhelmed with transactions. crypto solves this problem by creating a “simpler, fairer, and less risky market structure and settlement,” he writes. fried banker.
Bonus: Curve Finance suffered a DNS hack resulting in a loss of $570,000.
and when it arrives social networksthe main problem is that “social networks are isolated and not interoperable”, which means that the activities on a platform are limited and visible only to users of this same platform and nowhere else, which generates conversations and interactions fractured.
“Using an underlying public chain for messages” made the different networks compatible, he believes Bankman-Fried. That allowing moderation decisions. Hence the diversity of opinion.
With the holiday season fast approaching, Reddit has released a new guide to help advertisers use Reddit Ads in their strategies, which also provides some interesting notes on how Reddit users use the platform to search for products.
As Reddit explains:
“90% of users trust Reddit as a place to learn about new products and brands. During the holidays, people flock to the platform for recommendations on what gifts to buy, recipes to prepare, and traditions to start.”
The 9-page guide covers all the key elements of Reddit outreach, including product and brand engagement:
The report also looks at what consumers like about Reddit as a discovery platform:
Along with the main product categories in the app:
There is also information on key trends and more:
The guide also includes essential advertising tips, which also provide some interesting tips on how to use the platform as a research tool.
What could be Reddit’s key value proposition: Beyond direct mail, Reddit also provides a wealth of information on key trends, including products on the rise, and the comments sections also provide access to valuable notes on what that consumers look for in certain items.
Reddit continues to develop its advertising tools and has become a more valuable resource for connecting with engaged communities, though questions have also been raised about how it applies its advertising policies to different subreddits.
Still, with over 50 million active users, in over 100,000 niche communities, there could be a huge opportunity to help you connect with the right audiences for your offerings.
You can download Reddit’s 2022 Holiday Marketing Guide here.
Reddit is looking to improve discovery of audio rooms in its app, through its Reddit Talks option, with a new Ongoing Sessions showcase at the top of the main screen, which will now feature rooms from the two subreddits you follow and those whom you can be interceded.
As you can see in this example, your Reddit home feed’s live bar will now display discussions you might be interested in based on the topics chosen by the creator of the Reddit Talks session. Reddit will then present these links to users in the relevant communities.
“For example, if u/Reddit_IRL wants to talk about indoor plantsthey can then select that topic, and writers who subscribe to plant-related communities will be able to see u/Reddit_IRL talk in the live bar.
This could be a good way to get Reddit Talks sessions in front of more users – though it could also be misused, with hosts adding random topics to maximize reach. Still, that’s just the top of the app, and given that it’s not too intrusive, it probably won’t have a big impact on general usage.
Reddit is also looking to make it easier for users to start a Reddit Talk session, with some users now able to host chats directly from their profiles.
“Hosting a Talk on your profile is simple! You will go to the post creator and click start conversation, from there you will be prompted to select a topic (or topics) that are relevant to your conversation topic.
This could lead to more audio sessions in the app, making it easier for Redditors to understand that the option is available to them. Twitter added similar this week to its own tweet composer feed.
And to make things even more exciting, Reddit is also adding a new soundboard feature in Reddit Talks chats.
“The soundboard will be available on desktop starting next month and will feature eight sounds: air horn, tada, drum roll, sad trombone, claps, boing, cha-ching and ba-dum-tss. Use the sounds to liven up the room, play games or add an extra accent to the conversation.”
So there is this.
Finally, Reddit is also launching a new Reddit Talk Host Program to encourage participation, which will include both in-app and IRL rewards, including Reddit Talk hoodies, branded mics, additional in-stream promotion and more.
Those interested in applying for the program can find out more here.
As with all audio social options, it’s hard to say if Reddit Talks will ever become a key part of the app, with most people now abandoning audio engagement options due to quality and discovery issues.
This, at least in theory, should be less of an issue on Reddit, as the threads you see are based on subreddits you’ve joined, or related interests, so they should be more specifically relevant to you, without than Reddit has to. build algorithms to highlight the best sessions for each user in real time.
That might make it a more valuable consideration, but so far only 500 of Reddit’s 100,000 active communities have had access to the option, so it’s a bit difficult to pass judgment at this point.
In general, social audio options have lost some of their luster and much of their audience, but it’s possible that Reddit could turn the tide and make Reddit Talk a more relevant part of the in-app experience.
Although I’m not sure adding a soundboard will. It just reminds me of those generic breakfast radio shows, which might see Reddit Talks sessions turn into a mess of audio clips – or knowing Reddit, it might end up triggering weird new audio trends, where users don’t communicate than using a single soundboard clip at random intervals. .
Maybe it’s becoming a thing, maybe it’s falling flat, but there may still be potential for Audio Rooms in subreddits.
As it looks to advance its ad offerings and maximize its earning potential, Reddit has announced a new partnership with DoubleVerify to provide third-party verification of its ad metrics.
DoubleVerify’s tools will facilitate new insights into viewability, brand safety, fraud detection, and more, providing an additional level of security for Reddit ad partners.
As Reddit explains:
“Marking another chapter in Reddit’s ongoing commitment to meeting the needs of our partners, this collaboration will test and extend measurement for Reddit advertisers. In addition to our existing third-party verification offering with Oracle, DoubleVerify will offer its full suite of brand safety, invalid traffic and viewability measurement services to Reddit’s global ad partners.”
Meanwhile, Double Verify says the new partnership will allow brands to:
- Protect brand value – DV’s brand safety and suitability solution protects media purchases from objectionable or inappropriate content, safeguarding brand reputation and value.
- Fight against potential fraud – For advertising to work, it must be seen by real people – DV identifies and protects against fraud and IVT, from hijacked devices to bot manipulation.
- Make sure ads are seen – DV provides a comprehensive measure of viewability, providing clarity on whether an ad has a chance to be seen and shedding light on its impact.
- Deliver to the right geographic location – DV tools can determine whether or not an ad appeared outside of a campaign’s intended geography or block those ads from running.
That could help Reddit advertisers better plan and maximize their ad budgets, and help Reddit attract more ad spend.
Additionally, Reddit says it will work with DoubleVerify to develop an entirely new branded security solution, adding more measurability to its process.
Reddit has been working to maximize its reach on new business opportunities, through a variety of initiatives designed to clean up the platform and make it a more attractive proposition for brands.
In 2020, the platform removed thousands of its most controversial subreddits, which helped distance itself from such items, but at the same time, that apparently had an impact on usage, with Reddit passing 430 million monthly active users in December 2019. ., at 50 million active daily now.
Monthly and daily user statistics aren’t directly comparable, of course, but for context, Facebook has 1.96 billion daily active users and 2.94 billion monthly active users, meaning 67% of its active users totals are active every day. Using the same DAU/MAU conversion rate, Reddit would mean that it now sees around 76 million monthly actives, which seems like a big drop, but essentially, it seems highly unlikely that Reddit still has more than 400 million monthly users.
Still, with over 100,000 highly engaged subreddits, across a wide range of topics, there is significant reach potential there, and this new partnership will provide more assurance on how your Reddit ads will perform.
Reddit says it will integrate its new Double Verify solutions ‘in the coming months’, with full availability expected in 2023.
Reddit has shared new insights into its addressable audience of tech enthusiasts and how mobile carriers, in particular, can maximize their reach and appeal through Reddit ads.
According to Reddit, there are over 7,000 subreddits discussing mobile carriers and 52 million monthly assets engaged in tech-related discussions in the app. Which is more than Reddit’s daily total of active users – which has grown from 52 million in 2020 to 50 million, as shown now on the Reddit ads overview page.
Does this mean Reddit is losing viewership? I suspect that might be the case, with many people interested in trending and memes now heading to TikTok instead. But either way, the stats in this new chart show that tech vendors should pay attention to Reddit as a potential avenue to increase exposure and interest.
Or just to be up to date with the latest industry discussions and commentary.
Check out the full infographic below.
Reddit shares creative best practices and posting tips to help marketers make connections [Infographic]
Have you considered the potential of Reddit for your digital marketing efforts?
The platform currently serves over 52 million daily active users, and with highly engaged communities across all kinds of niches, it could well be a great path to not only learn more about your target market, but also connect with them in a more engaging way. more authentic way.
If you can do it right. Many brands are still hesitant to approach Reddit due to the platform’s previous opposition to ads and brand interference. But there are ways to improve Reddit’s performance and connect with potential customers on the app.
That’s where this new Reddit overview comes in. To help brands better manage the platform, Reddit has shared a variety of tips to guide your approach to posting on Reddit.
The main point? You need to learn Reddit and understand the nuances of the platform to create an authentic connection on the app.
And there are several ways to do it – check out the overview below for a variety of helpful tips and notes.
Reddit is looking to push its Reddit Talk audio social experience further, with a new onboarding program to help it find and nurture top talking talent in the app.
As shown in the visual above, Reddit invites regular Reddit Talk hosts to participate in the program with the allure of rewards such as:
- Your discussions are promoted to relevant audiences at the top of Reddit and are promoted on Reddit’s own social media channels
- Exclusive Reddit swag, including Reddit hoodies and mics, and a special conversation trophy for your Reddit profile
- Exclusive access to the Reddit Talks community, where you can chat with other hosts and the Reddit Talk product team
In order to benefit from these advantages, hosts will be required to run at least 4 chats every 30 days (12 in total) between June 15 and September 15, 2022. The program is open to anyone with access to Reddit Talk, while users can also request access here.
Launched last April, amid the brief audio social boom led by Clubhouse, Reddit Talk allows select users to host audio group chats within their communities, to improve connection and increase engagement. .
Reddit has since made various improvements to the option, including an update, Streams in the form of ongoing live chat storiesin the subreddits you follow, along the top bar of the app.
Reddit also now allows users to log into Talks through the desktop, expanding access to more users.
It’s hard to say whether audio social elements will be a lasting and valuable consideration for social platforms, with much of the initial hype fading away and the growth of existing tools like Clubhouse and Twitter Spaces slowing significantly in recent years. month. Meta has also effectively ditched its audio room experiments, as part of broader cost-cutting measures.
Still, there is clear value to certain people and communities, and on Reddit that could arguably be even more valuable than in dedicated audio social apps, because the content you see is highlighted based on the communities you have already joined.
Part of the difficulty with Clubhouse and Spaces is that it’s difficult to show personally relevant coin matches to each user because their algorithm matching systems aren’t advanced enough or they don’t have enough data. on each user to show them the right content at a given time.
Reddit effectively gets around this problem by only highlighting discussions from communities you follow, which could help increase engagement.
Reddit says the goal of this new program is to ‘find and reward great audio hosts on Reddit’.
“We’ve already seen communities host amazing chats ranging from casual hangouts (r/wallstreetbets, r/dadjokes, r/amitheasshole) to live audio AMAs ( r/cryptocurrency with Kevin O’Leary, r/relationship_advice with Kerry Cohen, r/films with the Jackass crew).”
It’s now looking to invest in the next stage of audio content, which, as noted, could be a nice compliment to Reddit in particular, even if it dies out in other apps.
You can learn more about the Reddit Talk Host program here.
Reddit has announced a significant expansion of its search capability, with the ability to now search Reddit comments, in addition to posts, providing new ways to facilitate discovery and discover relevant conversations within the app.
As you can see in this example, now when performing a keyword search on Reddit, you will be able to filter your results by “Comments”, in addition to the existing content category filters.
As explained by Reddit:
“With this new feature, users looking for particular threads or comments on Reddit no longer need to click through multiple posts and then scroll through what can sometimes be thousands of comments to find threads that The new feature solves this problem and quickly gives editors the ability to directly comment on research and further refine their searches by looking for comments within specific communities.
It could give your search for social conversation a big boost. Reddit’s active communities have always been a rich vein for gleaning insights into audience interests, but now you can dig even deeper and get people’s direct responses to different ideas and products, or mentions of them in in-app conversations.
This could be a great way to gather valuable feedback, and it’s worth taking a look at what you can find with the new search filters to better understand the different elements.
On top of that, Reddit has also updated its search results page, with a simplified layout to better focus on the results.
“Based on user feedback, we’re now prioritizing posts over other types of content in our updated search design, and we’ve simplified the results page so users can more easily browse and find what they’re looking for. ‘they are looking for.”
Reddit is also working to improve search relevance, with less restrictive matching to provide more results for queries that would previously have yielded no matches, more tailored matching based on popular searches, and the incorporation of previous search signals to better order relevant results.
And clearly those efforts are paying off – Reddit says that in the first quarter of 2022 it saw a 20% increase in the number of people using its search option, a massive jump, while over 26,000 early testers for its new comment search capability have already searched more than 5 billion comments in the app.
This could be a handy feature, for various purposes, and certainly, for social media marketers, it could be extremely useful to be able to browse subreddit threads to improve your perspective on your target audience.
Reddit’s new search options are rolling out starting today.