01 Sep 2019 · 2 min read

Crypto Treasure Hunters to Get a New Target - XTZ 1 Million

How does solving clues, puzzles and challenges in order to win 1 million Tezos tokens, currently worth USD 1 million sound? Here's your chance.

Source: iStock/kickimages

The alternate reality game Satoshi's Treasure launched the ongoing global hunt for USD 1 million in Bitcoin in April this year, during which the clans of hunters must solve puzzles and physical challenges to obtain Keys and collect 400 of them to win the prize. Now, it has partnered with the Tezos Foundation to bring the Second Satoshi Hunt, but also the Tezos mini-hunt.

The announcement by Satoshi's Treasure explains that participant will have to solve challenging puzzles and technical problems “for the benefit of the Tezos and broader cryptocurrency community,” but that it will be different from the BTC hunt. XTZ hunt is “built on top of a set of smart contracts,” so that the participants will be “more immediately rewarded for using their problem-solving skills”.

Another benefit, the announcement states, is that many new tools / software will be created by hunters to help their mission, and these will be valuable to the entire Tezos ecosystem.

The exact start date is still unknown, though the announcement made by the Tezos Foundation says that it will “officially launch in the coming months”. In the meantime, the organizers want to ensure that the smart contracts are secure and robust and are waiting for the audit to be done.

However, on September 10th, the Tezos mini-hunt will begin, in which individuals and clans can play and win a prize of 5,000 XTZ, currently worth just over USD 5,000.

The main hunt is estimated to last one year from the date of the announcement, though “it’s hard to account for the skill of hunters,” the FAQ says. But if the users don’t want to wait until the end of the game, given that Tezos Hunt uses NFT (non-fungible tokens), hunters can find a buyer for the prize token on the open market and sell it to get their reward in XTZ right away.

Organizers of the game told Cryptonews.com that they have more than 50,000 IP addresses globally that joined the Bitcoin hunt, including over 20 clans, as well as around 3,000 active users who check the website daily. "It is really exciting to see decentralized communities were formed and our hunters create more platforms regarding this game, for instance, ST news, Youtube channel and blogs, etc., which make a great impact to the crypto world and this industry," they said.

Speaking about the Tezos Hunt, they said that they're "very much looking forward to seeing how this changes the dynamics of the game, in terms of teams, clans, individuals and strategies used to win." We asked the Tezos Foundation for comment and update the article if they reply.

At the time of writing (04:46 UTC), XTZ, ranked 19th by market capitalization, trades at c. USD 1 and is down by 3% in the past 24 hours and by 10% in the past week.

XTZ price chart:

Source: coinpaprika.com