Tapatalk, a forum service and application, has officially announced that it will use EOS blockchain for the Gold Point reward system it runs. The platform plans to encourage its users by awarding them their new EOS assets.
Currently, Tapatalk already has 300 million users. However, the new plan might encourage the already existing users to be a lot more active and participatory on the platform; and is also expected to attract more users to Tapatalk.
Speaking in an official press release, the CEO of Tapatalk, Winter Wong, has expressed his optimism and excitement regarding the move, saying it will definitely encourage and improve opportunities within the different communities on the app. He said:
“We see many exciting ways this technology will deliver valuable monetization and reward opportunities for forum communities. We are proud to support forum owners in growing prosperous microeconomies in a trusted environment.”
Tapatalk and its EOS Adoption
The Gold Points Reward system kicked off in 2017 and was started as a system for incentives as well as a form of backing for the major users – including administrators – in the different communities. Gold Points are awarded according to the volume of activity on these user’s pages. These may include number of views on their pages, donations received, premium subscriptions and also the volume of impressions generated from ads.
Furthermore, these users could also barter these gold points for other virtual items if they ever decide to do so.
Generally, the adoption of EOS blockchain technology would give the Gold Points system a more exciting and mouth-watering feel. When Gold Points are converted to tokens based on EOS blockchain, the tokens could then be exchanged for cryptocurrencies including Bitcoin, Ethereum and XRP.
Tapatalk would also allow Gold Points be exchanged for real money if admins would rather not collect digital cryptocurrencies. A third option allows the Gold Points be held in Tapatalk’s own wallet for when they would like to redeem them.
Gold Points May Become Official Cryptocurrency
According to Winter Wong, Tapatalk is making plans that will see Gold Points registered on a few cryptocurrency exchanges so as to ensure security and fluidity. He however said that there currently are no plans for an initial coin offering (ICO) for Gold Points.
Wong also said that Tapatalk officially holds a small part of EOS after making a substantial investment. He confirmed that the investment was five figures.
EOS Increase in Market Capitalization
EOS’ market capitalization has now moved up about 18% to $4.022 billion. This happened right after the affiliation between EOS and Tapatalk was announced. Currently, the price of trading EOS is $4.44 up from the $3.74 it was worth just a little earlier.
All indications point to the fact that Tapatalk’s partnership and investment in EOS is the major reason for the increase.