It absolutely will. I had toyed with the idea of something like this before, but wasn’t sure what the behavior would look like until I found the cryptocurrency subreddit.
They have a system that rewards a monthly crypto amount based on the number of upvotes you received that surprisingly has an actual value that you can sell for. It’s largely led to a race to the bottom where comments and posts largely ignore any long form discussions or accuracy in favor of majority appeal.
This is subtley different though.
1$ gets split between all upvotes a person made. So instead of posts getting a value amount directly proportional to upvotes recieved, it will be proportional to how often those users upvote.
In theory I think this would encourage higher quality posts to attract those who upvote rarely.
I may be wrong, but I believe this is how the subreddit already works. They set a total amount of crypto to be released, and it goes in proportion to the total number of upvotes you receive in comparison to others in a given time window. I think the approaches are largely identical with the exception of the crypto vs direct fiat.
To be clear, this is an entirely different model with a different incentive structure from the other one under discussion. It will not have the same issues. You don't want majority appeal, rather you want niche appeal. The more people like primarily your post and nothing else, the more valuable the upvotes become.
They have a system that rewards a monthly crypto amount based on the number of upvotes you received that surprisingly has an actual value that you can sell for. It’s largely led to a race to the bottom where comments and posts largely ignore any long form discussions or accuracy in favor of majority appeal.