Pryze is a decentralized Ethereum based automated Sweepstakes protocol. The Pryze platform makes it easy for people to get to the front line of the higher target network of users on the platform. Pryze is creating a first-ever sweepstakes automation protocol. The team behind Pryze is developing their website and application to make it easier for veteran and new sweepstakes creators to run and main sweepstakes. The aim of the platform is to bake security, compliance, and scalability into the protocol and eliminate the need for costly hosting platforms and administrative services. They want to make all of this is possible through the Ethereum blockchain.
Pryze Video Explanation
Some of the features that make Pryze a better sweepstakes platform include:
Why you need to use Pryze
Pryze offers users the benefits and solution that other platforms don’t offer. Some of the solutions on the platform are:
- Elimination of escrow services: when users use the sweepstakes on the Pryze protocol, the protocol creates a smart contract that holds the prize until a winner is selected.
- Easier sweepstakes entry: Pryze facilitates the entry into many sweepstakes with common requirements. The apps save consumer’s entry data and enable an entry into sweepstakes for repeat users.
- Promotion: the Pryze technology eliminates the need for targeted user acquisition cost via the mobile app and website of previous sweepstakes. The process pushes alerts for new sweepstakes opportunities.
- Winner selection: the protocol has several methods for automating the winner selection process. The methods or randomness selects the winner using the decentralized blockchain.
- Automated tax information collection: Pryze provides a secure and safe platform, requiring sweepstakes entrants to submit tax information before receiving winnings. The process automates the tax information collection burden from sweepstakes creators.
- Automated winner announcement: the protocol use the Ethereum blockchain to announce the winner of each contest.
The Pryze team is led by Peter Franklin the CEI and founder of the protocol. Peter has a master in computational economics from his studies. He is a serial entrepreneur with a passion for game theory. Gil Penchina is the advisor and co-founder of the Pryze protocol. Gil is also a serial entrepreneur and prolific investor. Other include CTO, Jason McGuirk, head of PR $ Marketing, Sherilynn Macale and Principle Engineer, Juan Munoz.
According to Gill Penchina, “Pryze is a great example of a distributed system as it replaces marketing consultants and expensive escrow services.”