The so-called Verrater points were given to the students who excelled in some of the academy's events. Although the kingdom's currency was still being used inside the Verrater Academy's premise, the Verrater Points can be exchanged for the seishin treasures that can be considered more special.
All of these seishin treasures were available inside the academy because of its wide influence inside the Holy Alliance. Verrater Academy was the most sought schools of the children from the nobilities and royalties of the Holy Alliance so their reach and influence can't be underestimated by any means.
Kraftvoll and his classmates from the 210th class were already oriented by this detail previously after the day when Kraftvoll and Godwin had their little sparring. They were just brief a little brief because students from the first grade had only a little chance to get some so they did not emphasize it to them more.