Reddit, the popular social media platform, is planning to eliminate its crypto-powered “Community Points” reward tokens, according to a report by TechCrunch. What Happened: The tokens, which were introduced three years ago, aimed to incentivize high-quality contributions from Reddit users. However, Reddit intends to completely phase out these tokens by November 8. Initially minted on the Ethereum (CRYPTO: ETH) network, the Community Points are ERC-20 tokens that were later shifted to the scaling network Arbitrum Nova. Users could redeem these tokens for various perks on Reddit, including badge…