Signal Zero, the leading rewards platform for gamers since 2013 has today announced that it has deployed a pre-release of the world’s first Proof-of-Skill blockchain platform rewarding players of its mobile gaming platform TapRivals with free crypto rewards based on how well they play the game.
The Loot Protocol is the world’s first Proof-of-Skill blockchain platform that uses a universal crypto to reward players for their skill levels in a variety of games. Trendy Entertainment’s Dungeon Defenders II is the most recent game to commit to integrating the algorithm.
The company has released a Proof of Concept (POC) of its “Proof of Skill” blockchain mining mechanism, which takes the form of a reputation system that gives all TapRivals players the ability to earn reputation points based on their skill. Players use the points to “level up”, as they would in Role Playing Games (RPGs) and Massively Multiplayer Online Games (MMOGs). The higher a player’s level, the more they can access will receive in TapRivals’ rewards.
The game developer’s approach, is expected to spark a sea change in the way crypto-projects distribute coins to their community of supporters – completely upending the notion that individuals can receive coins for doing simple tasks like joining a Telegram group. Instead, Signal Zero has deployed a POC of their software, not only enabling the company to carry out beta testing, user research and feedback that is a standard in professional software development and product design, but also build confidence in the project and underlying technology.
“We’ve always offered pay-to-play community members the opportunity to get cash and prizes. But with millions of players in our community, we decided to share the love and rewards with everyone, while gathering valuable feedback about our new blockchain project,” commented Tobias Batton, CEO & Founder of Signal Zero.
“As we continue development of our decentralized Loot protocol for the gaming industry, it is important to engage our existing community of millions of players and the gaming and crypto communities at-large in that process. Signal Zero’s development and design DNA is built on a foundation of leveraging empirical data from our community to inform our design and development decisions. This proof of concept is the next step in that process,” added Batton.
The reputation system is based on Signal Zero’s “Proof of Skill” blockchain mining mechanism and utilizes the patent-pending algorithm that will eventually reward players directly for the skill they exhibit with tradeable crypto assets. Using a comparative ranking algorithm, the software analyzes relative player performance, awarding all players accordingly. The technology can be adopted by any existing game, forging new ways for publishers to monetize their content without the use of advertising and to pay gamers for playing the games they love.
“In addition to unlocking access to rewards on Taprivals’ rewards exchange, players with a high rep level can potentially receive other benefits in the future. If Loot Crypto Rewards development is finished and the project passes regulatory review, players with high rep levels will be first in line for free Loot Crypto Rewards Signal Zero gives away to the community. Although, it is important that players understand that the completion of the project and regulatory approval can’t be guaranteed.”
“Since we launched in 2014, Signal Zero has grown to a community of over 10 million global players and we’ve rewarded our members with more than US$7 million in cash and prizes,” continued Batton.
“We’re excited to continue to grow the community and share even more rewards with members, no matter where they play.”
To earn reputation, players must first register with TapRivals and play games for free. Players can also join the Telegram chat stream, where rep codes will be posted daily. Codes can be redeemed by any player with an active TapRivals account. For full terms and conditions of the Tap Rivals gaming platform, please visit: http://www.signalzero.com/terms-and-conditions/
Winning cash and prizes on TapRivals’ had previously been restricted to pay-to-play members, which excluded players from 13 US states and a number of countries, due to gaming laws and regulations. While players wishing to pay an entry fee to win will still be restricted, the new reputation system, which is free, opens up the possibility to win cash and prizes to virtually all players all around the world.
Players who level up via the reputation system may also gain preferential access to Signal Zero’s blockchain project, Loot Crypto Rewards when it comes out of development. Currently operating in development, the company intends to eventually offer this as a decentralized blockchain solution.
