Victoria, Seychelles, Feb. 20, 2024 (GLOBE NEWSWIRE) -- In a significant move for the Web3 space, Inspect has teamed up with Ava Labs and Looty to roll out "Inspect Rewards Season 1." This partnership brings together Inspect's Web3 social analytics, Looty's creative rewards platform, and Avalanche's dynamic ecosystem. Together, they're set to architect a new paradigm for nurturing ecosystem loyalty and expanding user engagement.
Central to this collaboration is the launch of Inspect Rewards, a program poised to leverage Inspect's analytics to redefine the appreciation of community involvement in the Web3 space.
Oliver Cohen, President of Inspect, expressed his enthusiasm about the collaboration: "We are proud to spearhead this initiative alongside Avalanche and Looty. This represents a significant milestone for Inspect, utilizing our analytics platform to cultivate a truly rewarding ecosystem that values and transforms how community contributions are acknowledged."
Introducing Inspect Rewards Season 1
"Inspect Rewards Season 1" is crafted specifically to enhance the Avalanche ecosystem's community engagement by outlining three straightforward steps for participants to qualify for rewards:
- Users connect their wallets to Inspect.
- Users must set an AVAX-themed profile picture on X, showcasing their support and affiliation with the Avalanche ecosystem.
- Rewards will be allocated based on participants' rankings on Inspect, with the distribution handled through Looty's innovative platform at the conclusion of the season.
The season kicks off on February 20, with an end date to be announced.
Looty also plays a crucial role in enriching Inspect Rewards Season 1.It has launched an NFT loot box opening platform on Avalanche to distribute NFTs in an engaging, accessible new way. Looty will be leveraging Inspect’s profile ranking analytics to allow anyone with an AVAX PFP to participate in competing for rewards. Ecosystem projects and brands put NFTs in Looty’s loot boxes. Users mint NFT keys and open them, scoring exclusive rewards and NFTs while allowing brands and ecosystem partners to connect with their customers in new ways.
This partnership is more than just a rewards program; it's a strategic component of the broader Avalanche NFT experience. Recently, Hyperspace showcased the potential of such programs by distributing 69,420 AVAX—equivalent to nearly $2.5 million—to incentivize NFT trading on their platform, highlighting the significant impact rewards can have within the ecosystem.
Building on this momentum, this initiative recognizes the importance of a broader range of ecosystem participants beyond the traditional focus on traders or capital allocators. In the diverse world of NFTs, content creators play a crucial role, and Inspect, alongside Lootyfi, is set to reward those who consistently support Avalanche and its ecosystem projects.
Dominic Carbonaro, Director of NFT’s Art and Culture, shared his excitement about the collaboration's potential to advance the NFT space on Avalanche: "Partnering with Inspect, a leading data analytics tool for Web3 influencers, alongside Looty, will be instrumental in distributing rewards through a fun and novel loot box experience."
Inspect has recently hinted on the upcoming collaboration in a tweet showcasing a significant uptick in profile pictures tracked on the platform. This community-generated buzz shows a growing excitement for the upcoming campaign, with the community members eager to be the early birds.
This strategic collaboration marks a significant step forward in building a more inclusive, engaging, and rewarding Web3 ecosystem, promising to bring new levels of interaction and recognition to community members who actively contribute and participate in the Avalanche ecosystem and beyond.
About Inspect
Inspect stands at the forefront of Web3 as a Layer 2 solution, empowering users within X (Twitter) and other social ecosystems with indispensable tools and insights for navigating the dynamic realms of cryptocurrencies and NFTs.
About Looty
Looty is a Loyalty & Reward platform that makes it simple, easy, and fun for brands big or small to reward their community through uniquely engaging experiences. As Looty looks to become the L&R cornerstone of the Avalanche ecosystem, their systems can be utilized by a wide variety of services & and platforms ranging from festivals wanting to bring ticketing on-chain to DEXs looking to make providing liquidity even more rewarding.
About Avalanche
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.
DISCLAIMER
This announcement is not directed at any investors or potential investors, and does not constitute an offer to sell — or a solicitation of an offer to buy — any securities, and may not be used or relied upon in evaluating the merits of any investment. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in this release are subject to change without notice. The contents in here should not be construed as or relied upon in any manner as investment, legal, tax, or other advice.
Media contact:
Robert Penington
Source: Inspect
