Uniting blockchain innovation with the raffle industry: An interview with The Prize team

2. Tell us more about the vision behind the platform?

In a world of rife market volatility, we want to give crypto users a fun, affordable space to play and win in a safe environment with the comfort of fixed odds. At The Prize they will not get hurt by the market, or lose their bags to fellow degens, the odds are fixed and the prizes are final.

3. How can a user enroll in the competition? Can you explain the steps for the same?

Sure, you simply connect your wallet, insert your TG handle and wallet address, and away you go. You can purchase our in-game currency tickets across 5 chains (BTC, ETH, SOL, TRX, and BASE) simply by connecting your wallet and depositing the funds. Game tickets at The Prize are $1 each, however, the larger the bundle you purchase, the bigger the discount.

Once you have secured your tickets they are loaded into your account and you’re free to enter any of the multiple competitions on the platform. You will be notified automatically inside your account section if you have won, and our team will reach out to you to arrange delivery of physical prizes.

4. The Prize.io prioritizes ethical gameplay. What are your thoughts on the gaming space currently?

Due to the decentralization of cryptocurrency, casinos and gambling platforms in the space are often not subject to the same level of regulation as traditional online gambling platforms.

Even if they do have a low-level gambling license from some small corner of the world, this lack of regulation can often expose users to fraudulent platforms, scams, and other illegal activities.

We have structured The Prize in exactly the same format as the web2 competition platforms that legally operate in jurisdictions like the UK and are not subject to regulation due to the way they are set up and engage with their players. We at The Prize follow these exact same rules and are therefore free from gambling regulation.

5. How are you ensuring transparency behind the scenes for building user trust and security?

Not only is all of our code audited at the highest level and regularly maintained, but we have built the most transparent version of a competition platform that has ever hit the mainstream. We publicize the wallet addresses behind the ticket purchases in comps and we limit any one user’s purchase size. Once our provably fair draw has taken place we will then publicize the tx hash of us paying out to the winning wallet.

6. Can you elaborate on the selection process for winners on the platform?

We use the flawless RNG protocol Chainlink VRF. Chainlink’s verifiable random function is a game changer in this space. It enables us to deliver mathematically random, provably fair draws. And publicize it to our community with a transaction hash.

In celebration of this, we have also developed our own RNG tool that users can use on our site by simply connecting their wallets and generating random numbers.

7. What does the prize distribution process look like? 

Once Chainlink has chosen the winning ticket number and we have verified the user, a member of our team will reach out to them to arrange the payout or delivery of their physical prize. In some cases, if the player has saved the correct chain wallet address inside their account section, and the prize is in crypto, the prize distribution can be automated instantly without the need for contact.

8. What lies ahead on your roadmap?

World domination. We’re here to change the face of crypto competitions and streamline the industry with our honesty play, and we firmly believe our innovative telegram raffle bot that’s being released in January will do the job.

As of January, users will be able to play our “Safe Smash” game, by breaking safes with screen taps and taking the loot inside. They can then swap these rewards for competition entries. Last but not least, users will be able to enter competitions directly from their telegram via our bespoke raffle bot API’d into our platform. This will be a game changer in the space and create a seamless fun way to interact and win prizes from inside the comfort of Telegram.

For more information on The Prize, please check out their official website.

Disclaimer: This is a paid post and should not be treated as news/advice.