In response to user protests and API changes, Reddit has decided to sunset its coins and awards system, causing frustration among its community. While the platform claims to be working on a new rewards system, no specific launch date has been provided. Previously, users could purchase Reddit Coins and use them to give awards to others.
Starting today, users will no longer be able to buy new coins, but existing awards and coins will remain available until September 12, 2023.
In an effort to simplify its platform, Reddit stated in a blog post that it has taken this step. Users have expressed their dissatisfaction with the clutter caused by awards and the complex process of awarding content. Reddit plans to revamp its rewards system but has not disclosed the details of the new system.
The company stated, “It has become evident that the current awards and coins system needs to be reimagined and phased out. Recognizing content and contributions (as well as something golden) will remain a fundamental part of Reddit. We will share more information in the upcoming months regarding the future of awards.”
Previously, Reddit users utilized coins and awards to acknowledge valuable contributions from fellow members. These awards were represented by various icons on posts. Reddit initially introduced Reddit Gold and expanded its awards range to include Reddit Silver, Platinum, Ternium, and Argentium. Presently, there are over 50 types of awards on the platform.
Reddit has promised to provide further details in the coming months about “a new direction for awarding that enables Redditors to empower one another and establish more meaningful ways to reward high-quality contributions.” The company aims to create a user-friendly, comprehensible, and straightforward system.
The decision to sunset the current rewards system before introducing the revamped version has disappointed users, as it leaves the platform without any rewards system in place.
“Removing a popular feature without a replacement ready, typical Reddit move,” commented one user on the company’s announcement. Another user stated, “So, you’re eliminating a popular feature and charging the same amount for premium.”
This recent announcement from Reddit comes amid ongoing backlash regarding its decision to charge developers for API access. The change triggered protests from multiple subreddits and moderators. Despite criticism, Reddit CEO Steve Huffman has consistently defended the company’s decision. It seems unlikely that there will be further changes to the API pricing structure.