Coinspeaker Gaming Prediction Market Forkast to Launch on Ronin with $CGX Rewards
Community Gaming has introduced Forkast, a prediction market focused on gaming, scheduled to launch on Ronin, an Ethereum-based sidechain, in January 2025. The platform enables users to stake tokens, forecast outcomes of gaming and internet culture events, and receive rewards, including CGX tokens and loot boxes.
Prediction Markets are Coming to Ronin!The first consumer dApp – powered by @CommunityGaming ⚔️• @ForkastGG launching January 2025• $CGX token and claim going LIVE around the same time• Earn $CGX tokens, weekly loot boxes, and more• Gasless transactions for Ronin… pic.twitter.com/6KzByXi60b
— Ronin (@Ronin_Network) December 23, 2024
Integrating Forkast into Ronin, a network hosting renowned games such as Pixels and Axie Infinity, represents a pivotal development for blockchain-based gaming. Community Gaming CEO Chris Gonsalves emphasized Ronin’s dominance in gaming, citing years of collaboration through CG Tournaments and the sidechain’s robust, resilient ecosystem.
“Ronin has proven to be the clear leader for gaming. Community Gaming has already been building on Ronin and supporting the community there for years with CG Tournaments. Their tooling is robust and they have demonstrated how resilient their ecosystem is through multiple cycles,” said Chris Gonsalves to Decrypt.
Forkast will utilize Ronin Waypoint, a universal account and wallet solution, to simplify user access while offering gasless transactions for specific actions like reward claims. Participants can also earn through weekly loot boxes, leaderboard bonuses, and prediction credits, further enriching the platform’s user experience.
First Prediction Market to Launch on Ronin
For Sky Mavis, the creator of Ronin, Forkast represents a fresh opportunity to engage its audience. Jeff Zirlin, Sky Mavis’ co-founder and Chief Growth Officer, highlighted the synergy between prediction markets and gaming:
“Prediction markets and gaming chains go hand-in-hand since there are so many potential outcomes, both in-game and IRL, to bet on. Community Gaming […] Now taking the next step with Forkast—Ronin’s first prediction market.”
Zirlin emphasized the broader implications of the launch, calling it “just the beginning of a new wave of consumer applications on Ronin.” The network’s integration of Forkast aligns with its core focus, keeping users engaged through innovative solutions.
Forkast’s CGX token will be available on Katana, Ronin’s decentralized exchange, around the same time as its launch. Early adopters of Ronin Waypoint can enjoy additional perks, ensuring a seamless transition for users into this predictive gaming ecosystem.
Prediction Markets Surge 565.4% in Q3 2024
The debut of Forkast comes at a time of unprecedented growth in prediction markets. According to a CoinGecko report from October 14, betting volumes surged by 565.4% in the third quarter of 2024, reaching $3.1 billion across the largest markets, compared to $463.3 million in Q2. Increased bets on the upcoming United States presidential election drove this surge.
Forkast aims to capitalize on this trend by offering unique gaming-centric markets. Users can buy and sell tokens representing potential event outcomes and earn profits for accurate predictions. For instance, a fictional market might ask, “Will Pixels reach 2M DAU by Christmas?” Those predicting correctly would receive on-chain rewards.
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Gaming Prediction Market Forkast to Launch on Ronin with $CGX Rewards
