Zeitgeist — Just another Web3 Betting or Economic system for predicting the future?
It is no secret that some people see the Zeitgeist project and prediction markets as something similar to betting companies, only decentralized in Web 3.0.
I want to dispel this misconception with this article and expand on the practical application of the project and prediction markets so that you can see the real value in it. Let’s look at a practical application of prediction markets in business analytics.
In this area, with Zeitgeist, we can get synergies from the traditional analysis of some business niches, decentralization, Web3 economic model, the interest of both contributors, the creator of the market, and its oracle. Thus get a lot of advantages that were not there before in principle.
Next, let’s take a look at 3 examples of prediction markets to analyze different business niches and trends.
Example №1: Prediction markets based on Google Trends.
Subject: The keyword “NFT’ will have a higher interest rating than the keyword “Bitcoin” on December 31, 2022, in Google Trends worldwide statistic.
Success metric checking here: https://trends.google.ru/trends/explore?q=nft,bitcoin
The website is a data analytics tool hosted by Google that tracks the interest in keyword searches worldwide. The results will be pulled from this website on December 31, 2022, at 18:00 UTC.
Assets:
NFTYS — option if the thesis in the subject of the market would be true;
NFTNO — option if the thesis in the subject of the market would be wrong.
Market end date: October 31, 2022, 18:00 UTC.
Explanation of the market: with the help of such a prediction market, companies will be able to decide between different trends in blockchain technology for the following year.
In this case, Bitcoin characterizes the broad cryptocurrency market as an indicator. NFT, on the other hand, is a more recent and narrower direction of blockchain technology development. To see them compared as several mentions is a good idea to understand where the market will move.
Example №2: Prediction markets based on CoinMarketCap.
Subject: The number of tokens from various unicorn projects (market cap over 1B $) related to meta-universes will reach 20 by October 1, 2022, according to CoinMarketCap.
Success metric checking here: https://coinmarketcap.com/view/metaverse/
Coinmarketcap.com is a crypto-data company that accumulates data on all blockchain topics. The results will be pulled from this website on October 1, 2022, at 17:00 UTC.
Assets:
METAY — option if the thesis in the subject of the market would be true;
METAN — option if the thesis in the subject of the market would be wrong.
Market end date: September 20, 2022, 17:00 UTC.
Explanation of the market: with the help of such a prediction market, companies and ordinary blockchain startups will be able to see the potential for the direction of meta-universes this year in terms of the number of top projects from the category of “unicorns”.
On the other hand, it is a good prediction market for individuals to understand the volume and development of the metaverse market. One can earn from it by investing in various ICO related to this direction and ordinary trading on the spot market.
It can be helpful for those who have already invested in this space and monitors the market forecasts to get an early signal of the trend. It will allow taking a position opposite to the original investment logic.
Example №3: Prediction markets based on Investing.com.
Subject: How many times in 2022 will the FED U.S. rate be raised?
Success metric checking here: https://investing.com/economic-calendar/interest-rate-decision-168
Investing.com is a finance-data company that accumulates data on all finance topics. The results will be collected and pulled from this website on December 31, 2022, at 23:59 UTC.
Assets:
FED1 — one raise;
FED2 — two raises;
FED3 — three raises;
FED4 — four raises;
FED5 — five raises;
FED6 — six or more raises.
Market end date: December 10, 2022, 23:59 UTC.
Explanation of the market: this prediction market will help various market participants, be they companies or individuals, understand the global economic situation and the forecasts for tighter monetary policy this year, which will affect all niches of our lives — from the economy to politics.
The softer rate hikes will remain, the more peaceful U.S. monetary policy will remain, which means investors will have more appetite for risky assets, including cryptocurrency and emerging markets.
Accordingly, it will be possible to draw conclusions about the likelihood of a “bull market” this year and think about your investments for this period.
Also, such a market can be a kind of hedging tool for your investment positions.
Conclusion: These examples are only a tiny part of the platform’s practically functional capabilities in the real world.
With the above prediction market options, individual companies can get helpful information about their niche of interest trends. Users can also profit from a correct prediction, not to mention oracles and staking, and the economic system of the native ZTG token and supported stablecoins such as aUSD and kUSD from Acala + Karura.
And that’s probably a topic for the following article. So stay tuned and stay safe in the current challenging times!
