[quote=@Revans Exile]I am asking for the actual awards themselves. For example best entry wins a hand drawn avatar, custom signature banner, custom title, a hall of fame, etc.
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I'm building an award/trophy kind of system so awards will actually be supported by the forum and you should be able to trivially scroll through the winners of past contests and view someone's trophy case on their profile.

I think people should also be able to brag. Not sure exactly how I will implement it yet since I've been working on other features. Maybe you get to pick a trophy from your trophy case to show up in your userbit on each post. Maybe you get a banner in your posts. 

I'll give it some thought soon, but the idea is that I want people to feel a sense of accomplishment as they accumulate awards on the forum.