The world of blockchain and cryptocurrency is constantly evolving and pushing boundaries in new and endless ways and we are excited to unveil our latest contribution Web3 space – Redtag.
Redtag is a revolutionary new Web3 identity that goes beyond being an address used for sending and receiving cryptocurrencies and NFTs.
We will be releasing Redtag in tiered stages, starting as just the naming service shortly, and progressing into much more. The next step will be a full social and gamer profile that allows users to play games and interact with apps in the Redlight ecosystem. What makes Redtag so unique is its API, which allows partnered games and apps to ping the API every time a user performs an action. This action adds points to the user's metadata, which rewards them for playing Redlight games and incentivizes partners to join the ecosystem.
The leveling system in Redtag is another exciting feature. Every time a user hits a new level, they get an NFT drop and can choose from the next level of PFP.
Redtag's staking feature is another powerful tool that allows users to stake REDLC to get a leveling up multiplier. Players will stake REDLC to reach higher levels faster and claim the NFT drops they desire.
Players can also use their staked REDLC as voting chips – where they can vote for their favorite games and gain promotional benefits for the ecosystems they support.
Each staked $REDLC is one vote and the games with the most votes will get promotion on Redlight Network's decentralized exchange, Dawnswap, and our NFT trading platform, Midnight Trades.
There will also be a staking leaderboard, which adds an extra layer of competition for users to participate in.
Games that are part of the Redlight ecosystem will actively promote Redtag and REDLC to their players, asking them to vote for their game, as a way to receive promotion.
Some games will even create their own Redtag profiles and stake as much REDLC as possible to get promotion within the Redlight Ecosystem.
This creates a symbiotic relationship between games and Redlight Network, as both benefit from increased exposure and user engagement.
Redlight Network's approach to building an ecosystem that incentivizes user engagement and rewards participation is a game-changer in the web3 space.
By creating a platform that rewards users for playing games and interacting with apps, Redlight Network is building a community that is actively invested in the success of the ecosystem.
We are also launching a guild system that allows users to stake REDLC to create a guild, which will show on their Redtag profile.
Each guild will have its own profile page and the guild’s members will be able to work together to accrue “guild points”, so they can level the guild up and claim guild NFT drops.
As members of the guild level up, they will all receive an NFT drop, which can be used across multiple games and apps in the Redlight ecosystem.
Staking multipliers for guilds will also be in play.
This initiative will bring a new reason for gamers and game studios to buy and stake REDLC, bringing compounding value into our ecosystem with every game we onboard.
As the world of blockchain and cryptocurrency continues to evolve we are pushing boundaries and exploring new ways to incentivize growth. Redtag is just the beginning, we have two more exciting forms of REDLC utility to announce soon and we can’t wait to tell you all about them.