Hide & Seek
I think it could be a lot of fun. Pink Day had that very thing, in fact, with a race made of riddle clues to locations. You had to figure out the riddle, go to the location, do the indicated action to prove you’d figured it out. The person at that location would then give you the next clue. There were prizes for the first few to do it. I have to say I was astounded to come in second, especially after I stumbled badly on one clue for several minutes.
It did require more than one GM, though, so your idea would be a way to gear up towards the bigger exploration hunt. (Come to think of it, though, it is more a race for those who already have explored and know the lore and history of the area. They have the waypoints and the knowledge to interpret the clues).
Players do this in map chat for prizes occasionally, or they used to. I used to see it a lot in Lion’s Arch.
-Mike O’Brien
Because we can’t be angry about both?