Member Awards. Is there a way to do this in Buddypress?

One of the things I really like about the ExperienceProject.com is that users can get awards of various kinds from each other. Some awards can be handed out freely as a sign of appreciation or respect… others can be bought. Is there a way to do this in Buddypress? If not, some developer should jump on this, because this dynamic (showing appreciation, earning and giving awards) is very social, “sticky” and perfect for Buddypress.