Reddit Gets Communities To Create Projects With IDR 14.5 Billion

JAKARTA - Reddit has just launched its official $1 million Community Funds program, which will see various projects receive special support.

"We'll be inviting the community to submit ideas for projects, events, contests, giveaways, just about anything you can think of to bring people together for inspiration and fun," said Reddit.

Each selected project can ask for between $1,000 and $50,000, which equates to $14,3 million and $719 million, and Reddit will start issuing grants in June.

The Community Fund is the Reddit version of the creator fund that Facebook, Snapchat, TikTok, YouTube, Spotify, and nearly all social media have offered to the people who use their platforms. And, in this case, the funds that Reddit disbursed are quite small.

Facebook pledged to spend $1 billion a day on creator-related funding, and Snap at one point wasted $1 million a day on its creators' content.

But launching Social Media Today, Wednesday, April 27, because Reddit isn't a platform that focuses on creator content in the same way, the best thing about Reddit isn't the individual users, it's the subreddits, which is trying to help the community do things without getting too involved in it. the process.

By becoming a more important element of such an initiative, Reddit then solidifies its position as a starting point for it, which will strengthen community engagement, and keep users engaged within the app.

Given the potential benefits, this is a relatively small price to pay, and could ultimately make Reddit a more important tool in many ways for this user and project. It will be interesting to see what types of projects Reddit fund later.