A brand new type of crypto agriculture seems to be taking form, with Reddit’s “neighborhood factors” tokens facilitating the emergence of spam-farming.

Reddit’s neighborhood factors are given to customers based mostly on their exercise inside a given subreddit, with the function at the moment activated for the platform’s cryptocurrency and Fortnite communities as ERC-20 tokens, dubbed Moons and Bricks, respectively.

With the xDai-based decentralized alternate Honeyswap lately launching pairings for wrapped variations of the tokens, Reddit customers can now farm memes for revenue.

Reddit’s community points are distributed month-to-month based mostly on person exercise. The tokens have been initially issued retroactively based mostly on the “Karma” — Reddit’s long-standing site-wide reputational level system — traditionally accrued by customers.

The Fortnite neighborhood has demonstrated important curiosity within the tokens, with greater than 39,026 Redditors creating Bricks wallets because the function went stay. In contrast, 8,910 customers at the moment personal wallets containing Moons.

Thus far, 34.6 million Bricks and 35.3 million Moons have been distributed. With the previous at the moment buying and selling for $0.047 and the latter altering fingers for $0.063, the tokens at the moment boast market caps of roughly $1.6 million and $2.2 million, respectively.

The information suggests the content material generated by the roughly 47,935 Redditors taking part in each subreddits over the 5 months because the tokens’ launch is valued at $3.8 million.

Nonetheless, it’s unlikely that DeFi yield farmers are to be talking of a spam-farming “flippening” any time quickly, with customers within the r/cryptocurrency subreddit incomes the equal of $1.64 per particular person every day — about 10% lower than the minimal in Sudan.

Nonetheless, r/Fortnite customers are producing a meager $0.27 for his or her exercise every day — roughly one-quarter of the minimal wage in Sierra Leone.

If the tokens have been evenly distributed amongst wallets, r/cryptocurrency customers would maintain roughly $247 value of Moons every, whereas r/Fortnite customers would every be sitting on roughly $0.41 value of Bricks.

The preliminary retroactive distribution has created relative whales amongst Moons and Bricks hodlers, with Cointelegraph figuring out one r/Fortnite user holding 91,000 Bricks value $4,235, and an r/cryptocurrency person who has amassed 467,000 Moons, value practically $30,000.

Nonetheless, 24-hour quantity for xMOON on Honeyswap is $46,531, and simply $19,392 for xBRICKS, indicating the neighborhood factors markets are but to draw sufficient liquidity to permit whales to dump their tokens.