Why MOON Tokens are the Future of Media

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It seems like every day there is a new story about another celebrity who is endorsing or getting involved in cryptocurrency. Interestingly enough, this type of celebrity endorsement is actually a perfect fit for the cryptocurrency industry. This is because cryptocurrency is perfect for celebrities, especially those who have been the victim of some form of hacking or other privacy invasion. Blog: http://monero-rings.com/why-moon-tokens-are-the-future-of-media/

The moon has always been a source of inspiration for mankind, and the pale glow of its light has guided explorers throughout history. Today, it has become a source of inspiration for a new kind of explorer: the cryptocurrency investor. Moon is a cryptocurrency token that was built to be the future of media. Moon’s goal is to help video creators monetize their work in a new way, and to help investors earn rewards in a new way. We believe that MOON will reshape the way creators reach their audience, and the way consumers interact with their favorite creators.

What is the MOON crypto-currency? In May 2020, Reddit’s online message forum announced something called Community Points, which has now evolved into an actual cryptocurrency called MOON that has major implications for the future of media.

Why MOON Tokens are the Future of Media

Today I’ll give you a brief background, show you why MOON is money, and discuss whether buying MOON in 2021 will be comparable to buying Bitcoin in 2011.

If you’re not already familiar with Reddit : It’s the front page of the internet, a huge collection of online communities about everything from funny pictures to ridiculous pet behavior to people who really like to drink water.

What sets Reddit apart from other discussion forums is that it actually works.

Each community (or subreddit) relies on human moderators combined with technology that allows users to vote for useful or funny posts. This combination of people and algorithms, which differs from purely algorithmic platforms like Facebook, is really the key to Reddit’s success. This means that the overall quality remains high and that you get a lot of interesting and surprising news.

To encourage users to reward helpful posts and funny comments, Reddit created Karma – the points you earn when others like your content. It’s similar to how people like your videos on YouTube, with one key difference: On Reddit, likes (karma) accumulate on your Reddit account like frequent flyer miles.

Reddit then launched community points in beta, which essentially tokenize karma on the blockchain in the form of an ERC-20 token.

This is very important.

Reddit Karma evolved into blockchain-based community points that became free in the form of the MOON crypto-currency. Are you still with us?

Why MOON Tokens are the Future of Media

Traditional social media platforms like Facebook own all the content you post on the platform. That’s right, they provide a free service by connecting us. But they also get revenue from advertising the content we publish, and it seems to me that we should at least get royalties for that.

Community points are another model: You earn blockchain-based tokens for content that the community finds useful or interesting. Each community has its own distribution of community tokens, and in the r/cryptocurrency subreddit these tokens are called MOON. (Of course.)

This experiment is almost a year old, but it is still in its infancy. The tokens are stored on the Ethereum test network because ETH rates are so high that Reddit would go bankrupt tomorrow if it allowed users to simply redeem their community tokens for cash.

Think of community points as Monopoly money that can be converted into real money (i.e. transferred to the Ethereum network) when they solve technical problems. Your imaginary internet points become real US dollars in one fell swoop.

And now the news: Someone found a way to do it.

Why MOON Tokens are the Future of Media

How the moon became money

It’s not easy, even by cryptocurrency standards. This is a multi-step hack that requires a lot of technical expertise and significant ETH costs that will likely far exceed the value of your MOON. (Here is an example of a manual).

We’ve already heard about a user who traded MOON for $24,000 worth of bitcoins. Before you get too excited, you should know that MOON’s current price is about 9 cents. It may be too early to give up your job for constantly posting on Reddit.

Price history for theMOON line chart: We’re just getting started. (Courtesy of CoinMarketCap)

Why MOON Tokens are the Future of Media

I did the math, and that gives MOON a current market capitalization of about $10 million, which is still peanuts by cryptocurrency standards.

WorksheetYou can download (and update) the worksheet below.

Why MOON Tokens are the Future of Media

You’ll also need to do a lot of writing for your MOON: It turns out that creating online content is not particularly profitable. (We could have told you that.) The $24,000 user mentioned above has been posting since 2017 and makes Reddit look like a part-time job where he makes less than minimum wage.

With this caveat, I want to reiterate that this is a very important issue. By breaking down the firewall – by making internet money worth real money – we cross the chasm and make the same leap that bitcoin made in 2011. (In fact, even the price is comparable).

A contribution is virtually worthless at the moment, but that will change. It takes a PhD in cryptography to translate MOON into dollars, but that will change. It’s still prohibitively expensive, but that will change. In the coming years, everything will become easier, more efficient and more valuable.

Of course, you don’t have to post on Reddit to participate in MOON : You can buy it right now. (Technically, you should buy DAI and then convert it to MOON with Honeyswap).

Why MOON Tokens are the Future of Media

Let’s say you believe – as I do – that we will inevitably have a cryptocurrency that rewards users for publishing valuable content. You see r/cryptocurrency is the largest crypto community on the web, has a thriving platform and has a real company (Reddit) behind it.

Here’s a question for you to consider.

Is MOON a good investment?

MOON is not the only version of community points: other subreddits have their own version, such as r/Fortnite, which has an ETH-20 token called BRICK. (BRICK is currently worth about one-tenth the value of MOON.) You can compare the two tokens here and imagine a day when there will be thousands of competing tokens, each built on their own Reddit communities.

Brick vs Moon: Two first social crypto-currencies. (With thanks to Dappradar)

Why MOON Tokens are the Future of Media

What makes MOON so special? Simply because it is the basic crypto-currency of the r/cryptocurrency community, which is the largest crypto-currency community on the web.

Let’s see how this can happen:

  • Users post to Reddit and earn community points in the process. They are currently stored in a vault, a kind of wallet linked to your Reddit account. (Excellent demonstration here).
  • Each sabreddit will have its own type of community points (i.e. its own ERC-20 token), but some communities – like certain crypto-currencies – will be more valuable than others.
  • Users will be able to trade or cash out their tokens in their Reddit vault (eventually) or through third-party wallets like Metamask (so far).

The economic aspects are interesting: If MOON tokens are currently worth 10 times more than BRICK tokens, then the r/cryptocurrency community is theoretically 10 times more valuable than r/Fortnite. This brings more users to r/cryptocurrency, but the increase in supply (i.e. number of posts) does not mean an increase in quality.

It’s even popular on r/cryptocurrency to complain that MOON has degraded the community because people are moonwalking or posting for points. (Which is even less profitable, by the way.) This seems to increase the amount of low-quality spam, but it doesn’t reduce the overall quality of the best posts, thanks to Reddit’s algorithms filtering out a lot of junk.

Why MOON Tokens are the Future of Media

It reminds me of Reddit’s cryptocurrency clone, Steemit, which was very popular in 2017 and 2018. It copies many of Reddit’s mechanisms and rewards its users with the STEEM crypto-currency instead of Karma. The feedback on STEEM has been incredibly helpful and the community has grown incredibly fast. But Steemit had no human self-control, and his tokenomics were confusing, so he eventually collapsed under his own weight. (Today, it’s a mess).

Steemit is an important cautionary tale: Managing online communities is very difficult. It is much more difficult than managing a direct technology platform because of the human factor. People are emotional and unpredictable, and almost all of Reddit’s problems – and there have been a few in its 15-year history – have been caused by people using the platform to their own detriment.

In a way, it’s a wonder Reddit still exists. Almost every online community forum that emerged in the 2000s has disappeared or died, but Reddit has survived and continued to thrive. It’s an incredible success story.

It’s hard to say if Reddit will be around for another 15 years, which makes MOON a good long-term investment. But so far, it has stood the test of time and overcome some of the toughest challenges that have arisen between man and technology. Alexis Ohanian, co-founder of Reddit, is known to be a supporter of cryptocurrencies, so you can be sure this isn’t a passing fad.

One last thing to note: When MOON becomes mainstream, it will almost certainly be considered a utility token. The SEC’s decision, when it is eventually issued, will likely apply to companies trying to use blockchain tokens to raise money, which is not at all what Reddit is doing. Community points – and MOON in particular – are reward points, pure and simple. This complies with the requirements of the U.S. Securities and Exchange Commission.

Why MOON Tokens are the Future of Media

Will MOON go to the moon?

For most investors, the moon remains the most speculative of all speculative investments. It is the cutting edge of the avant-garde. Feel free to grow some booze by posting on Reddit if you realize your time is valuable. You’re actually better off working in a fast food restaurant.

If you want to invest in MOON by following the reverse instructions below and buy directly, hoping to buy bitcoins in 2011, be aware that it may take years – if ever – for your MOON to reach the moon. Don’t invest more than your hard earned money.

Whether or not MOON becomes the standard social crypto currency in the future, it represents an important idea: social crypto currency. As MOON separates from Reddit, you can imagine how everyone will start integrating MOON into their own community platforms. You may see MOON WordPress plugins, MOON browser extensions, and maybe even MOON integration with other popular social media platforms. Trade with the moon. Lunar Arbitration. Jim Cramer talks about MAD MOONEY.

If and when that happens, I hope we can use MOONs as a motivation for a kinder, gentler internet. If the moon can be used to promote helpful and generous content and discourage harmful and indecent behavior, it will be a powerful asset to humanity.

As with Reddit, this will require a combination of people and algorithms. This requires smart game mechanics to encourage positive contributions, and human moderators to make complex decisions that software cannot.

MOON or something similar could be a new currency for a new kind of capitalism – let’s call it social capitalism – where we can elevate public discourse by rewarding people who create content that speaks to our highest human values. This could change the entire media landscape. It is possible.

If we can send a man to the moon, then surely we can use the moon to restore our humanity.

Fill out the form below to access our MOON spreadsheet and useful links.

Fill in the form! You can download our MOON scorecard here:

This source has been very much helpful in doing our research. Read more about nextmoon token and let us know what you think.

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Emilia James
By Emilia James

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