The third place prize will be 10,000 G1C, the in-game currency. Second prize will net one lucky player 20,000 G1C, which is valued at about $240 USD. The grand prize winner will receive 40,000 G1C, an epic in-game item, an original weapon named for their game-crashing character, and a QA acknowledgement in the game's credits. Winners will need to have a GamersFirst account in order to receive their winnings. In addition, all closed beta participants will receive 200 G1C.
[Source: Reloaded Productions press release]