Reddit Announces RedditNotes, A Way To Share Equity With Readers

Reddit, the world’s favorite repository for funny and/or pornographic images (and wide-ranging discussions on almost any topic), has announced a RedditNotes initiative, a method to give equity to the site’s readers using a lottery method.

The 950,000 notes will be given away at random to folks who have been on the site before 9/30/14 and will be given out next fall.

The company wrote in a blog post:

To celebrate all of you and your contributions, we plan to give away reddit notes in a random lottery. As of this point, it looks like we’re going to have approximately 950,000 reddit notes to divide among active user accounts. There aren’t as many reddit notes as there are accounts, so if you get one, lucky you! Eligible recipients of reddit notes will be determined based on activities before 9/30/14 (when we first announced this project), and we plan to give them away in the fall of 2015.We’re still working out details on both the technological and legal aspects of the project, especially regarding how reddit notes will work within existing government regulations. We look forward to sharing that information with you early next year. If you have feedback or ideas for us, feel free to visit/r/redditnotes – and keep being awesome!

Again, details are slim but you’ll be able to buy and sell the notes like equities and even use portions of them as tips. Reddit is also hiring a cryptocurrency head, which suggests that top posts may soon see more than an upvote given out as thanks.