Reddit, internet’s most popular forum on discussions about the internet has now announced a new feature called RedditNotes. Through this, the company aims to give equity to certain active accounts via sweepstakes.
Reddit aims to distribute some 950,000 such notes to random redditors, who have been active before 30th September 2014. Since number of accounts is excessively large as compared to the number of available RedditNotes, these notes will be given at random.
The company has detailed the distribution criteria in a blog post :
As of this point, it looks like we’re going to have approximately 950,000 reddit notes to divide among active user accounts. There aren’t as many reddit notes as there are accounts, so if you get one, lucky you! Eligible recipients of reddit notes will be determined based on activities before 9/30/14, and we plan to give them away in the fall of 2015.
We’re still working out details on both the technological and legal aspects of the project, especially regarding how reddit notes will work within existing government regulations. We look forward to sharing that information with you early next year. If you have feedback or ideas for us, feel free to visit /r/redditnotes – and keep being awesome!
The company has further said that once awarded with the note, you can use it to buy, sell or can opt to keep it with you. There are no details as to how and in what number do they plan to distribute these equities. However, you can go to this subreddit for all your questions.