A brand new prediction market platform Truemarkets has lastly launched after elevating over $4 million by means of its public Oracle Patron NFT sale in Nov. 2024, with Buterin minting 400 NFTs.
Truemarkets (TRUE), the decentralized prediction market platform constructed on the Base Layer 2 blockchain has formally launched. Just like Polymarket, Truemarkets aggregates breaking headlines throughout completely different subjects (politics, popular culture, and many others.) in real-time, bringing real-world knowledge to the on-chain ecosystem. Like Polymarket, it additionally permits customers to wager on the outcomes of occasions, reflecting the present public sentiment.
Moreover, Truemarkets encourages participation by providing rewards for correct predictions. Particularly, Truemarkets creates a buying and selling market the place individuals can purchase and promote “YES” and “NO” tokens for every forecasting state of affairs (e.g. Will Solana (SOL) ETFs be accredited by the tip of 2025?). The worth of the “YES” and “NO” tokens always modifications primarily based on how doubtless the market believes every reply is. Merchants and liquidity suppliers purchase/promote tokens, adjusting the costs. After the occasion really occurs, the tokens akin to the appropriate reply may be redeemed for $1 every. The tokens akin to the incorrect reply change into nugatory.
The long-awaited launch of Truemarkets comes after the corporate raised $4.03 million by means of its public NFT sale. Particularly, the corporate offered 15,071 of its Oracle Patron NFTs priced at 0.08 Ethereum (ETH). Vitalik Buterin purchased 400 NFTs value 32 ETH. Truemarkets will allocate 40.03% of its whole 100 million TRUE token provide to the Patron NFT holders within the upcoming airdrop. TRUE will solely operate as a governance token.
