Personal finance gamification solution Long Game has launched its cryptocurrency rewards system.
Long Game is designed to educate users, predominantly millennials, about their financial habits and improve them through games and rewards.
The new crypto reward solution works by offering users free crypto assets when they save money and level up within the app. Tokens, which are selected based on an alignment with Long Game’s mission driven values, are rewarded to users for free as an incentive for them to build health financial habits.
Its decision to supply cryptos as rewards was an effort to educate users on new financial assets and provide a no-risk way to access the crypto market, while still reinforcing smart finance decisions. Current cryptos being used for rewards are ETH, BAT and 0x.
The company has also launched Crypto Spin, which will offer tokens as prizes in the app. Whenever a Long Game user makes a saving through the app, they are given the ability to play a game of chance. Rewards have included up to $1m and now cryptocurrencies will be added to the prize draw.
Long Game is a mobile app available for Android and iOS which aims to improve financial behaviours. A user links their bank account and opens a new FDIC-insured, interest savings account.
Whenever a user makes a saving to their account, they earn reward points which can be used to play games on the app. The games offer the chance to win cash rewards or cryptocurrency.
Long Game CEO Lindsay Holden said, “We believe that blockchain will fundamentally change finance and business as we know it even though investing in cryptoassets is still risky. It’s important for Long Game customers to learn about this exciting new frontier. Crypto Rewards will serve to educate our customers and introduce them to crypto markets while protecting them from the risk that comes with investing,”
Gamification is starting to receive interest in the personal finance space. Last month, Blast raised $12m in its seed round to support its growth in the early marketing phase. The free-to-use platform helps gamers to save money in their Blast wallet through ‘trigger savings’ which can be increased through interest paid on balances, dividends from ‘missions’, and weekly leaderboard payouts.
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