Microsoft Creates a Token Reward System on Ethereum Blockchain

Microsoft crypto

Good news for crypto-tech geeks! Azure, the blockchain-supported cloud platform under the canopy of Microsoft, just announced a token reward system to help encourage growth and creativity in the Azure community.

In the page titled Introducing Azure Heroes, Microsoft disclosed that the newly-launched non-fungible tokens (NFT) are created for the sole purpose of boosting creativity on the platform. This will be primarily targeted at developers who make notable impacts in the community.

Built on the Ethereum blockchain, the non-fungible token would play the role of just about any virtual currency out there. Developers who get awarded with a badger will get the tokens as prize and can use it for digital transactions like Bitcoin(BTC)trade and other cryptocurrencies.

Microsoft states:

“Azure Heroes aims to reward individuals for verifiable acts of impact such as coaching, creating demos, building sample code, blogging about Azure or completing certain challenges. Community members that have demonstrated their contributions will be recognized with badges across a number of categories.”

Thanks to the contributions of Enjin, a gaming startup company, the crypto-based reward system was designed in a fun and easy way. More like playing a game, only in this case, you get to earn real cash in the form of virtual currencies.

Furthermore, Microsoft revealed that the token would be minted in limited quantities that can be verifiable on the public blockchain. The transparency that blockchain provides ensures every developer can see what is left of the limited tokens.

Lucky badgers (recipients of the tokenized badge) will receive a unique QR code, which is the key to accessing your non-fungible tokens. Upon scanning the QR code, you will be presented with the option to install the wallet, which like other crypto wallets, houses the token.

From the wallet, you can then transfer the token to any public Ethereum (ETH)trade address.

How It Works

Although limited, the token will be made available to a varying degree of categories. To become an Azure hero, you will have to nominate yourself or another community member who must have done a notable contribution in one of the categories – Inclusive Leader, Content Hero, Community Hero, Mentor, and Maker.

Each category holds a limited amount of tokens and comes with a requirement. Upon meeting this requirement, you can nominate yourself and have your work verified to qualify. Easy peasy!

Non-fungible tokens are becoming more and more popular over the past year. Just recently, the major crypto exchange Gemini has acquired a non-fungible token management platform.

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