Reddit has released a new posting tool called 'Predictions,' which allows users to stake their claims and earn tokens based on their understanding of the topic. Predictions, as seen in this example below, will allow users to wager tokens on their predicted poll result, with moderators putting together the polls and options. Moderators can also create Predictions competitions, which include a variety of polls in which users can participate and wager extra tokens.
This new functionality, which is only available to mods in communities with at least 10,000 members, allows Redditors an even more unique way of participating in their communities by reducing the barrier to posting and making it easier than ever before. It's worth mentioning that the tokens cannot be purchased or redeemed for cash. When you join a Predictions Tournament, you get 1,000 free tokens, but after you run out, you can no longer participate.
Following the conclusion of the Predictions tournament, members are assigned tokens based on how many of their predictions were correct and how much they wagered, allowing them to climb the relevant community Predictions scoreboard, enhancing their reputation and prominence in that particular subreddit. Because it isn't for actual money or rewards, it may appear to be a less important, and hence less interesting, alternative, but Reddit members have a long history of competing on metrics that have no meaning outside of the platform. Because the vast majority of people don't care how many likes or followers each individual has, we all seek those engagement points regardless, and they do provide a measure of peer legitimacy and presence, as do all social media users.
As a result, you can expect Redditors to be eager to show off their expertise via Predictions contests, which could, as Reddit points out, encourage users to become more engaged in the app rather than passively scrolling through the latest memes in their feeds. According to a third-party analysis conducted in 2019, more than 98 percent of Reddit's monthly active users never post or comment, preferring instead to browse and up/downvote material within the app.
This isn't inherently a problem, as Reddit's engagement continues to rise. But, in theory, by including more individuals, Reddit will be able to keep people coming back more frequently, while also expanding its use case and strengthening its communities. However, offering a gateway to gambling is not the best path to take, thus there are some doubts regarding the validity of this strategy. However, the objective is that by participating in a safe, easy poll like this, users will become more engaged in the Reddit process, facilitating engagement and activity.
And it will, without a doubt, work. For years, Reddit users have competed for Karma points, and if there's one thing Redditors enjoy more than anything else, it's being right and making sure others know it. Both parts are made easier as a result, and Redditors will flock to it in droves.