Reddit on Monday rolled out a new “Contributor Program,” which will now reward qualifying Redditors, including mods, with real (fiat) money for the content they share and contributions they make to Reddit.
In other words, this program will enable Redditors to convert their Reddit gold and karma into real money for posting viral content on the social networking program.
To be eligible for the Contributor Program, Redditors must be 18 years or older, residing in a supported location (United States to start), and have a Reddit account in good standing.
Besides the above, Redditors must make qualifying contributions on Reddit within the last year, such as they must earn at least 10 gold within a 30-day period and receive at least 100 karma over 12 months.
“Once enrolled in the program, redditors will receive payments on a monthly basis. The earnings a redditor receives are calculated based on the amount of karma earned and gold received on their eligible contribution,” the company announced in a blog post.
The new Contributor Program is now rolling out in the U.S. across Web, iOS, and Android Reddit apps. Logged-in Redditors can go to the program via their profile menu. The program page will appear once it is clicked. If a Redditor is eligible, the Get Verified to Start Earning button will be tappable.
Besides the above, Reddit on Monday also announced that it is “simplifying” the experience of awarding content that Redditors like with a new gold system.
To purchase and award content creators with gold (or “gild”), users can long press the upvote icon on mobile (or hover over it on desktop) directly within the post or comment they want to reward.
Six gold awarding options will appear, starting at $1.99 for one gold and up to $49.00 for 25 gold. This will result in a golden upvote in place of a regular upvote after gilding. Users will continue to earn karma on content upvoted through the regular upvote button.
The new gold system is now rolling in select communities and will be available on eligible content on Reddit native mobile apps. It is expected to reach other communities in the coming weeks and will be available on the Web later this year.