Purpose of medals in players leagues?

So chess.com created the players league and I like the completion. I was first place in my division, but does it matter? Is there a benefit to being 1st, 2nd and 3rd or does it only matter if you qualify? I don't see any changes in my profile that I was first... So 1st place or 20th, what's the difference if 1-20 qualify to the next league? Can anyone explain why 1st, 2nd and 3rd have medals near the players name? Any benefit?

*competition

Not everything in life bring's benefits.

Well, I learned that long ago...

Just wondered if the medals had purpose.

If it's just decoration and bragging rights, it's not interesting. 

Probably just put in place for the later hardcore league's.

Place doesn't matter, except on deciding who moves to the next league. During this initial release, the first week a Champion league division is filled, will have prizes for that division and any concurrently running Champion divisions, so that week it will matter.

Isn't the price money for Legend League? Champion just premium membership?

fake prizes increase the likelihood that you will continue to play by making you feel a sense of accomplishment.

Ok, so 1st, 2nd, 3rd places only matters towards the end of the contest I guess when less players qualify. Thanks for explaining

I read there was prize money and membership awards. I'd like to win a membership just to see some of the additional features. 😉  I play a lot so it would be cool to win! I imagine winning money is MUCH harder. 

The first Champion division, and any Champion division the runs concurrently to the first filled one, will have cash prizes. That is in addition to one year diamond memberships to the first 200 members in a Champion division.

Hmm😞  Well, I hope that's not true. I like this sites sportsmanship policy. They have given me back rating points when the computer detected players cheated against me. I hope that's a sign of integrity. I believe the prizes are legit. 😉

The leagues have had an absolutely toxic affect. The people winning these leagues are either 1) people who have nothing better to do than play chess all day and 2) smurfs and sandbaggers who rely on rating manipulation to rack up huge streaks in arena - which has never been addressed because apparently, no one at chess.com cares if a major feature of the site is ruined by trolls.

It might have been a good idea on paper but the leagues have ruined what little is left that is worthwhile on chess.com.

Hmmm.... I don't understand. I was in the BETA group when chess.com was working out a lot of issues with these leagues... For example, they took out trophies gained for the different variants and only give trophies for standard games +960. I was happy to see you have to play random players to get points too... So that people can't just play their friends all day to work the system. I think with anything, if people WANT to cheat, they'll find a way I suppose. I have a break from work for the holidays so currently I play a lot. It will change when I go back to work. No system is perfect I guess. Maybe they should have a system where only the first 100 games a day are counted for the contest or something like that. It would put a cap on people spending tons of time and really count QUALITY play instead of QUANTITY. Thanks for your comment. Have a great day!