Bettors in the forthcoming 2018 FIFA World Cup, will benefit from, a project creating a blockchain-powered betting platform. It is scheduled to roll out on May 21st.
The product running on the rarely used ERC721 token standard can be considered as developmental. The non-fungible tokens are used by Cryptocup to record the user’s predictions. Trading on the platform will only be for the duration of the World Cup. After July 23 when the games end, tokens with winning predictions will be rewarded.
Each CryptoCup token is an electronic ticket. A user can join the game by buying and filling in the ticket-token at 0.045 ETH over the first week. The price escalates each succeeding week. It differs from regular sports betting with its complete transparency. Each correct prediction gets rewarded after each game. The prize amount will be determined at the end of the World Cup based on bonus scores.
Greg Colvin, software engineer and computer scientist at the forefront of Ethereum Virtual Machine (EVM) has joined CryptoCup as an advisor. Coinfabrik, “developers” of JAXX, ROOTSTOCK, TRUSTSTAMP, WAYNILOANS, and SIG3 joins in as a partner to supervise the technical part of the operations.
(Image source via: GamersNet.nl)