A brand new prediction market platform Truemarkets has lastly launched after elevating over $4 million by 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. Much like Polymarket, Truemarkets aggregates breaking headlines throughout completely different matters (politics, popular culture, and so forth.) in real-time, bringing real-world information to the on-chain ecosystem. Like Polymarket, it additionally permits customers to guess 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 should purchase and promote “YES” and “NO” tokens for every forecasting situation (e.g. Will Solana (SOL) ETFs be accredited by the top of 2025?). The value of the “YES” and “NO” tokens continually adjustments based mostly on how doubtless the market believes every reply is. Merchants and liquidity suppliers purchase/promote tokens, adjusting the costs. After the occasion truly occurs, the tokens akin to the right reply will be redeemed for $1 every. The tokens akin to the incorrect reply grow to be nugatory.
The long-awaited launch of Truemarkets comes after the corporate raised $4.03 million by 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 price 32 ETH. Truemarkets will allocate 40.03% of its complete 100 million TRUE token provide to the Patron NFT holders within the upcoming airdrop. TRUE will solely operate as a governance token.
