Skip to main content

JRR Crypto Launches Token Design Competition

- JRR Crypto Launches Token Design Competition

In a collaboration with LongHash and BTC Inc, JRR Crypto has launched an international token design competition.

Beginning on October 26, 2018, JRR Crypto launched this design competition at a multiday festival in Berlin. According to the group, it’s designed to address one of the fundamental issues that the development of decentralized projects faces today.

“JRR observed that most blockchain projects that design a pass-through mechanism are too focused on fundraising rather than actual economic model building and the landing of business models,” according to a translated description of the competition. “JRR Crypto, BTC [Inc] and LongHash jointly launched a competition to explore new applications for blockchain technology development and jointly discuss new trends in digital economy development.”

The description also noted that registration will remain open until November 24. Registration is available through various channels for competitors from all nations.

Selected token projects will be graded by a panel of international judges. There are six awards up for grabs between competitors, including “Best Creative Design” and “Best Incentive Scheme Design.”

The grading will be determined largely by the criteria of the specific award in question, with 40 percent of the score determined by the quality of several generalized factors, such as token distribution, functionality, utilities, complexity and appreciation logic.

Finally, in early December, the finalists and judges will travel to Shanghai for an award ceremony presentation. From there, the winners will receive several nonmonetary prizes, such as mentorship from competition judges and media support from partnering organizations. JRR has also promised to facilitate future meetups and activities within Asia.