Corporate awards may be a thing that have only sprung up in relatively recent years, but trophies and awards generally have been around for thousands of years. Decreasing exemplory case of instances where trophies have already been an important part of human culture is the Olympic Games.
There is no doubt that, even though trophy which was awarded to winners of an Olympic games event was a laurel wreath, the esteem where it was held was as great, and maybe even higher than, the gold medal awarded for the same events today. It is simply undeniable that awards and trophies which have been presented to winners throughout human history are a demonstration of the importance that individual or group recognition plays in the human psyche.

https://mikestrophies.net/acrylic-awards-trophies/ is interesting to notice the development in the forms of trophies awarded to winners as time passes. As stated above, laurel wreaths were the first trophies ever awarded at the Olympic Games but as time passed awards of sustained significance started to become standard.
Vases filled with precious olive oil were presented to winners in the early days of the Olympic Games and even later, vases on tripods and bronze shields soon became the standard. Later again, silver cups received as an indicator of the prestige which individual achievements were held.
In ancient Roman times the awards took on even greater significance when money replaced trophies, especially in gladiatorial contests. However the recognition of achievement were still maintained through perpetual trophies handed from winner to win with each passing event.
Even sporting events that have been held in England in the centre Ages rewarded winners with chalices created from gold and silver coins. Archers would compete for prestigious events hosted by members of the royal family or local lords simply for the recognition it accorded them and the esteem where they might be held by the neighborhood community. Indeed, it had been not unusual for the winners of these events to eventually achieve even greater standing with the award of land.
Symbolic gestures have become a standard thread throughout human history and trophies have become a vital part, not only in Western culture but in many other countries around the globe as well.
Ancient Chinese records show that superior achievements on the battlefield were rewarded with medals awarded by the Emperor and in the Mayan culture high achievements were publicly recognised in ceremonies designed specifically for the purpose.
Sporting achievements are also a common thread in our history where trophies have been held in the highest esteem. Horse racing is synonymous with this particular and the history dates back to the 1600s in the Americas in which a small silver cup, later to become referred to as the Kyp Cup, was awarded to the winner of a horse race between two towns in New England.
As time passes many things change and the values inside our lives ebb and flow with the span of human history, but one thing is for certain. Trophies will continue steadily to play their part in the recognition of human achievements whether it be in the organization sphere or on the sports field.