Transparency note: This post explains how Ghost Net Credits work from a tax and accounting perspective. It is informational, not legal or tax advice. Individual circumstances vary.
What Are Ghost Net Credits?
Ghost Net Credits (“Gc”) are the internal reward units used within the Play the Planet ecosystem.
Gc are:
- Earned by completing quests and actions
- Tracked per user
- Redeemable for goods or services made available through the platform
For clarity and consistency, the system uses a simple valuation:
1 Gc = $1 USD
This makes Gc easy to understand, track, and audit.
Is Gc “Money”?
No.
Gc are not legal tender, not cash, and not transferable between users. You cannot cash them out, trade them, or convert them directly into dollars.
However — and this matters — Gc can be redeemed for real-world goods and services. Because of that, they are treated as a reward credit with real-world value, not as purely fictional game points.
That distinction is what drives the tax treatment.
When Do Taxes Apply?
Taxes are not triggered when Gc are earned.
They are triggered only when Gc are redeemed.
This is a critical point.
- Earning Gc → no tax event
- Holding Gc → no tax event
- Redeeming Gc for real-world value → potential tax event
If you never redeem your Gc, nothing is reportable.
Why Redemption Matters
From a tax perspective, redemption is the moment when value leaves the game system and becomes something tangible.
At redemption:
- The value is measurable
- The benefit is real
- The transaction is complete
That’s why Play the Planet tracks Gc redeemed, not just Gc earned.
How Play the Planet Tracks This
For every user, the system records:
- Date of redemption
- Amount of Gc redeemed
- Dollar value (based on the 1:1 rate)
- What was redeemed (goods, services, etc.)
This creates a clear, auditable ledger for each participant.
Annual Summaries for Users
Each year, users will have access to an annual Ghost Net Credits activity summary showing:
- Total Gc redeemed during the calendar year
- Total dollar value of redemptions
- An itemized list of what was redeemed
This summary is provided for personal records and tax preparation convenience.
IRS Reporting Thresholds (U.S. Users)
Under current U.S. rules, platforms may be required to report rewards or other income only when certain thresholds are crossed.
For Ghost Net Credits:
- If a user redeems $600 or more in value in a calendar year, Play the Planet may be required to issue a tax form (such as a 1099).
- If a user redeems less than $600, no IRS form is issued by the platform.
Regardless of reporting thresholds:
- Users are responsible for understanding and complying with their own tax obligations.
Play the Planet’s role is reporting when required — not determining an individual’s tax liability.
Tax Information Collection (When Required)
To comply with reporting requirements:
- Tax information (such as a W-9 for U.S. users) is requested only if a user approaches or exceeds the reporting threshold
- This information is collected securely and only when legally necessary
Play the Planet does not request tax identification information from all users by default.
What This Does Not Mean
Ghost Net Credits do not:
- Make users employees
- Represent wages or salaries
- Function as a bank account
- Allow cash withdrawal
- Create ownership or equity
They are a reward system, not payroll.
Why We’re Being Open About This
Because pretending value doesn’t exist helps no one.
Play the Planet is building a system that:
- Respects participants
- Avoids surprise tax consequences
- Treats rewards like what they are: real value earned through participation
Transparency now prevents confusion later.
In Plain Terms
- Earn Gc freely
- Redeem when you want
- Taxes only come into play if and when real-world value is received
- We track redemption so no one is blindsided
That’s it. No hidden mechanics.
If you have questions about how Ghost Net Credits work, or how redemption is tracked, reach out through the platform support channels.
We’d rather explain it clearly than pretend it isn’t real.