[NFT Spotlight #9] CryptoCup, sports betting through NFTs
The 0xcert NFT Spotlight Series is aimed at bringing to light the 50 shades of non-fungibility. From games to cards, and from protocols to supporting services, there is no shortage of uniqueness.
The ninth part of the series introduces CryptoCup, the first NFL game and betting platform on the blockchain. (Interested in other NFT-people and their views? Please scroll to the bottom of the post.)
📢 So, what is CryptoCup all about?
CryptoCup was born from the team’s interest in the NFL and the World Cup tournaments. What started off as an idea, it soon received great attention and backing of the community. The World Cup prediction game was launched and integrated with the crypto aspect through on-fungible tokens (NFTs). Now, Crypto Cup is the first NFL game that runs on the blockchain tech mechanisms.
💪 What’s the purpose?
The purpose of CryptoCup is to provide a new, more reliable and transparent way to betting in sports, especially in football. Tackling the issues that traditional betting systems face, like trust, opportunities, and regulations, CryptoCup provides a fair, honest, and transparent betting environment. This way, they are bringing a centuries-old activity of betting onto the blockchain to leverage its advantages.
🔧 How do they do it?
Betting on CryptoCup is made easy and straightforward. By employing smart contracts to receive and distribute the prize in ETH, the element of blockchain becomes a part of gaming activity. Predictions can be placed for several tournaments and sets of stats. The bets are recorded and sealed in the form of an NFT that ensures the validity of verifiability of the placed bet data and owner. These non-fungible tokens, therefore, serve as a sports betting ticket on the blockchain.
⛓️ Want to bet on CryptoCup?
From the landing page go to the Marketplace, enable and log into MetaMask, choose the tournaments and place predictions. Your CryptoCup token can be bought with ETH and stored in your wallet. After every tournament, the smart contract combs through the tokens with the winning bet, and if your prediction was right, you receive the reward in ETH. CryptoCup tokens are ERC-721 non-fungible tokens that record your unique set of data, including date, time, and origin of bet placement, so there are no two tokens or bets alike or interchangeable.
❓ Non-fungible Q&A
We welcomed Federico Goldberg, the CryptoCup co-founder, to join us for the fungible five. What are his opinions on the potentials of NFTs?
Federico Goldberg delivers.
1. What do you expect to see in 10-years time in the non-fungible field? The most creative answers count double.
I expect a mainstream adoption. Besides the game industry, real-world assets such as apartments, cars, etc. Games are awesome and will help to bring new people into the blockchain world, but it’s still a niche. If NFTs succeed in order to show ownership of a real-world asset, it will be game-changing.
2. In terms of other NFT projects, which one would you nominate for a Golden Globe and why?
I would nominate Gods Unchained. The way they are planning the game is awesome and I believe it is a breaking point in the industry.
3. What would you rather have — your pet cat tokenized on the blockchain or a tangible, strokable 3D-version of your favorite crypto-asset?
I would love a 3D version of my favorite crypto asset!
4. A CryptoKitty and an Axie enter the ring. Who wins?
Depends on which Kitty and which Axie are fighting. In general, I would say an Axie because they seem more ready to fight. But nobody can beat a Pawzilla.
5. Finish the joke: “CryptoCup walks into a bar…
“CryptoCup walks into a bar, says “Hello, my name is Cryptocup” and everybody celebrates a goal with him. :)
🏈🙌
Eager to learn about other non-fungible projects, as well? Browse through past interviews.
NFT Spotlight #1 — Kette.io, protecting your NFTs
NFT Spotlight #2 — CryptoDecks, trackers of non-fungible values
NFT Spotlight #3 — KnownOrigin, the non-fungible art platform
NFT Spotlight #4 — Mokens, helping you create and compose NFTs
NFT Spotlight #5 — OpenSea, customizable NFT marketplace
NFT Spotlight #6 — CryptoCarz, VR racing on the blockchain
NFT Spotlight #7 — Dapp.com, all decentralized apps in one spot
NFT Spotlight #8 — Nonfungible.com, market insights for NFTs
This article originally appeared on the 0xcert website and has been replicated here with express permission by 0xcert.
