Announcing Damat Tween Markets, a fashion prediction market powered by Damat Tween and Polkamarkets
The Polkamarkets Labs team is incredibly excited to announce the launch of Damat Tween Markets, a predictions game with real-life rewards focused on Fashion, in partnership with Damat Tween, the leading luxury menswear brand from Turkey, with over 400 stores in 80+ countries.
What is Damat Tween Markets?
Damat Tween Markets is a predictions game that allows Damat Tween customers, fashion enthusiasts and fashion industry participants to make predictions about various topics related to the Damat Tween brand and fashion in general and win real-life rewards.
Damat Tween rewards the best forecasters with exclusive items, allowing all participants to showcase their fashion knowledge and build their reputation as fashion forecasters and oracles.
The Damat Tween Markets platform launched with 19 initial questions about the brand’s future, fashion and other topics related to Damat Tween. The questions are grouped into three tournaments, each offering a unique reward to the top forecaster.
Users sign up to Damat Tween Markets with their Discord account and automatically receive 2,000 TWEEN tokens. The TWEEN token acts as the point system for tournament leaderboards and as play money for users to participate in the prediction markets. The better users are at predicting the future of fashion and Damat Tween, the more TWEEN tokens they earn. Users who win more TWEEN tokens rank higher in the tournament leaderboards and are more likely to win rewards.
A new way for the Damat Tween brand to engage with its community and gain strategic insights
Damat Tween Markets is an innovative initiative combining Community building, the Wisdom of Crowds and Web 3 technology. It enables a whole new way for the Damat Tween brand to engage with its audience and gather valuable insights about the future.
Teams within Damat Tween can use insights from Damat Tween Markets to inform strategic decisions in all business areas. By using prediction markets, Damat Tween taps into what their customers, fashion enthusiasts and industry experts think will happen in the future. Information derived from the wisdom of crowds spans a wide range of topics, such as price and brand perception, best sellers, design trends, and more. This data, in turn, informs a vast array of teams inside the company — sales and marketing, product, supply chain, manufacturing, and others can all benefit from forecasting to make better decisions today.
The platform’s integration with Discord supports the brand’s community strategy to connect deeply with the tech-savvy and digital native Gen-Z and Millennial generations, as does the choice of a user-friendly twist on Web 3 technology.
Users don’t need to know anything about Web 3 and blockchain to use Damat Tween Markets, and still, they can trust that their actions are transparently computed and stored on an open distributed ledger. This architecture ensures that the data they create is portable and can’t be tampered with, contrasting with what can happen on most social media platforms. Damat Tween Markets is a breakthrough in how brands can leverage Web 3 technology to develop trust when engaging their audience online.
Every prediction on Damat Tween Markets is computed and recorded on the Polygon PoS blockchain behind the scenes. The platform is powered by a dedicated deployment of the Polkamarkets Protocol, which uses so-called gasless transactions and social login to enable frictionless usage of blockchain technology. The TWEEN token, used for making predictions and scorekeeping, is also powered by the blockchain: it is a non-transferable Polygon-based ERC-20 token that can only be used with Damat Tween Markets.
Damat Tween Markets is currently aimed at the Turkish market, which is Damat Tween’s original and most prominent market. The platform has the potential to support the company’s international expansion through interface localisation and the creation of specific prediction markets and tournaments that cater to new geographies. As a communication tool with high engagement and an information generation mechanism, it can be part of the brand’s expansion mix to create deep connections with audiences in new markets.
Powered by Polkamarkets Business
Damat Tween Markets is the first project born from the Polkamarkets Business initiative. Polkamarkets Business enables organisations to tap into the wisdom of the crowds while generating engagement with their communities.
The benefits of using prediction markets are multiple, as they allow organisations to come closer to their public or internal audience through direct engagement — be it with their fans, customers, employees, suppliers, resellers, independent experts and the industry and community at large — and generate unique and valuable forecasts and insights that they can leverage to make better decisions.
Polkamarkets Business’ versatile technology creates a completely custom environment for each organisation. Every single detail of the platform can be adapted to meet an organisation’s strategy, goals, the demographics and tech savviness of its audience, its regulatory environment and compliance requirements — from the interface language and design to the login system capable of integrating with any public or private identity management system, to the incentives and rewards structure, to the requirements for public or private deployments, and more.
“Skin in the game” and rewards are crucial for creating successful prediction markets, known for generating better forecasts than surveys, polls and expert opinions based on price discovery and the wisdom of crowds mechanics. Usually, “price” means “money”, but it is proven in well-researched academic papers, with evidence from large organisations such as Google, Ford Motor Company, Electronic Arts, and many others, that play money works just as well for price discovery, as long as it translates to participants having “skin in the game”. In-kind rewards and reputation building do just that, correctly incentivising individuals to provide their best forecast while eliminating the need for real-money markets.
The Polkamarkets Business solution’s built-in support for play money-based prediction markets, its rewards management mechanisms, administration tools, full user experience customisation, and the ability to deploy it in public or private environments at any scale, with any level of security and compliance requirements make it the perfect choice for dedicated and trustworthy prediction markets platforms — in public or private environments.
This unique offering enables any organisation — business, non-profit, public body, web3 project, or any community in general — to build a deeper relationship with their target audiences to generate valuable information and forecasts with high engagement, independently of whether they want to target the digital native Gen Z generation, Millennials, Gen Xers, or even active Baby Boomers.
The know-how of the Polkamarkets Labs team, combined with the flexible and proven Polkamarkets technology suite, enables any organisation to achieve more and better engagement and generate valuable insights with their communities through gamified prediction markets.
About Polkamarkets Business
Polkamarkets Business is a scalable prediction markets solution built for fast and flexible deployments on-site and in the cloud.
Polkamarkets Business enables forecasting, insights and business intelligence surfacing for enterprises, communities and research.
Talk to Polkamarkets Labs today and learn more
About Polkamarkets Protocol
Polkamarkets is a Web3 Prediction Markets Protocol built with open-source technology. Polkamarkets enables user-friendly, transparent and secure prediction markets and can be tailored to the specific needs of anyone.
About Polkamarkets Labs
Polkamarkets Labs’ vision is a world where every organisation and individual can access better information about the future. Our mission is to build the best technologies and products that make it easy for anyone to participate in prediction markets and harness the insights they generate.
The company is the original creator and leading developer of the Polkamarkets Protocol. Our team of prediction market specialists has extensive experience producing and taking to market consumer- and enterprise-oriented products, as well as creating and executing brand strategies. We can help any organisation tap into the future through prediction markets.
Talk to Polkamarkets Labs today and learn more
About Damat Tween
Damat Tween is Turkey’s leading luxury menswear brand, with over 500 stores in 70 countries and quickly expanding its global footprint. The brand recently became the official fashion sponsor of the Atlético de Madrid football club.
