Arweave TX
The Inspect Rewards Season 1 is all about rewarding Inspect users who are actively engaged with the Avalanche ecosystem.
Anyone with an X platform account and AVAX PFP collection from the Inspect website can participate in the Season 1 contest.
The announcement had a palpable impact on the Inspect’s native token INSP amid the ongoing crypto bullish outlook.
Inspect, a fast-growing Layer-Two project that was conceptualized for the X platform among other social media ecosystems to seamlessly explore the vast Web3 ecosystem, has announced the official start of the Inspect Rewards Season 1 via a press release. According to the announcement, the Inspect Rewards Season 1 will be made possible through a strategic collaboration between Ava Labs, the Web3 company behind the Avalanche (AVAX) network, and Looty protocol.
Throughout the Inspect Rewards Season 1, the company intends to reward its users who are actively engaged with the AVAX community.
The Looty protocol, which has gained popularity as a loyalty and reward platform that helps different brands to incentivize their respective communities, will help distribute the rewards through Loot Crates. The Loot Crates empowers different business brands to distribute Non-Fungible Tokens (NFTs) in an engaging manner.
“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,” Oliver Cohen, President of Inspect, noted.
Similar sentiments were expressed by Dominic Carbanaro, the Director of NFTs Art and Culture on Avalanche network. According to Carbanaro, the Inspect platform has grown to a leading data analytics tool for Web3 influencers and the partnership with Avalanche and Looty will be a huge game changer in distributing rewards to the community.
The Inspect Rewards Season 1 was crafted in a way that Inspect users on the Avalanche network are given the top priority. Worth noting that the end of the Inspect Rewards Season 1 will be communicated via official channels. As for who can participate in the Inspect Rewards Season 1, the company highlighted the necessary steps as follows.
To begin with, users need to connect their respective Web3 wallets to the Inspect website.
Next, they must set an AVAX-themed profile picture on the X platform.
The rewards will be allocated through the Looty platform based on the participants’ ranking in the Inspect platform at the end of the competition.
Looty will use the Inspect’s profile ranking analytics to allow anyone with an AVAX PFP to participate in the competition. In order to access the Loot Crates, one will be required to mint the keys or obtain them through giveaways by different brands for various incentive programs. Notably, the Inspect platform intends to distribute some keys to the highest-ranked Avalanche X accounts on their platform.
Furthermore, the partnership between Ava Labs, Inspect Platform, and Looty protocol is similar to the Hyperspace one that was used to distribute 69,420 AVAX worth about $2.5 million.
The official launch of the Inspect Rewards Season 1 competition has coincided with the ongoing crypto bullish outlook. The Inspect native token INSP has a fully diluted valuation (FDV) of $250M and an average daily trading volume of about $1.7 million. Trading around 24 cents as of this announcement, the INSP token has gained around 32 percent in the past two weeks. The launch of the Inspect Rewards Season 1 could also result in a palpable increase in the AVAX profile on the Inspect network.
