BlockchainSpace’s YEY Launches In-App Points System

Rewarding those who joined the recently concluded YEY Quests Season 1, the rewards redemption campaign of metaverse guild hub BlockchainSpace’s experience platform YEY has started, where quest points can be redeemed for XP, which are convertible to either YEY points, USDC, or a mix of both.

What’s the significance: A rewards redemption campaign shows that crypto entities are serious about rewarding participants that help build their community. 

About YEY Quests S1 Rewards Redemption Campaign

• Conversion: Participants can redeem their farmed quest points into XPs.
  • 1 XP = 1.5 YEY Points
  • The conversion of XP into $USDC is based on a pro-rata share of the rewards pool
• How to redeem rewards?
  • Log in to YEY and visit the Redemption Page.
  • Select the preferred balance between YEY Points and $USDC.
    • Note: USDC will be distributed on the Polygon network, requiring a compatible wallet.
  • Confirm and redeem the rewards.
• Timeline: The redemption window is only open until September 16, 2024.

About YEY Points

• Function: According to BlockchainSpace CEO Peter Ing, YEY Points will serve as the experience platform’s in-app points system. 
• Advantageous: BlockchainSpace, in a media release, encourages S1 participants to convert their XPs into YEY Points because of a number of benefits:
  • Benefit 1: YEY Points will unlock priority access to upcoming features, exclusive collaborations, and potential growth opportunities as the platform expands.
  • Benefit 2: YEY Points will be the official points system for the platform’s future campaigns.
• Use Cases: YEY Points can be used on:
  • More campaigns
  • Premium features
    • Verified badges
    • Advanced dashboards
    • Co-Branding opportunities
    • Revenue-sharing options.
  • [Soon] Exchanged for rewards or tokens. 
• How to Earn YEY Points: 
  • Running campaigns
  • Claiming Shinys
  • [Soon] Through purchases. 

Key Quote: 

“YEY POINTS (YP) is the in-app point system for YEY.tech  A point system for our Community Owners. A point system for the Fanbases of our Community Owners.. Engagement needs to be tracked!”

Peter Ing, Chief Executive Officer, BlockchainSpace

What to watch: BlockchainSpace highlighted that the launch of YEY Points introduces a new era of community engagement, with future events, exclusive rewards, and potential partnerships in the pipeline.

The bottom line: YEY Points was noted to empower users to shape the future of the YEY ecosystem, offering both engagement opportunities and financial rewards.

Worth reading: In May, YEY version 1.4 was launched, featuring cryptocurrency wallet integration and social media platform connectivity to enhance user experience through improved interaction and connectivity.

This article is published on BitPinas: BlockchainSpace’s YEY Launches In-App Points System

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