ZKSpace Qatar 2022 Football World Cup Metaverse
Hi, ZKSpace community!
The release of The James Rodriguez NFT collection brought a wave of interest around football IP. It has been inspiring to see this engagement and we have decided to further explore this area. This is why we today are pleased to announce our upcoming feature. With the Football World Cup tournament upcoming we are launching an NFT-based prediction market to provide an exciting experience for everyone.
The Football World Cup Tournament in Qatar is set for kick-off in late November this year. Football is a sport with a long history and with the highest number of followers around the world. The World Cup is a highly anticipated event that started in 1930 and has been played essentially every 4th year since, except for two times that were canceled because of global armed conflict. It’s the most viewed sporting event and 1,12 billion people watched the 2018 final game which is roughly a 7th of the world’s population which is a staggering amount of interest. Brazil, with its 5 trophies, is the most successful national team, among only the 8 countries to ever win a world cup in the history of the tournament.
For a seasoned football fan, this World Cup in Qatar is an unusual experience as it’s the first time the tournament is played outside the summer. With the hosting country Qatar having too hot summers it was a necessary deviation from the common scheduling of the tournament which has caused some controversy. With the long tradition of football, there are still considerable conservative elements that by principle are unwilling to deviate from the usual ways of scheduling international tournaments. Also for the more obvious practical reason that the major leagues have their seasons scheduled from autumn until late spring/summer which is causing a lot of headaches in reorganizing the leagues in a major way. Still, there are no signs of this disturbing the excitement of the hundreds of millions of fans around the world. Arranging the World Cup in Qatar could be seen as a way to show inclusion towards parts of the world where football may not be as big as some of the most football-savvy countries.
Prediction market gameplay
With our product ZKSea, you can mint NFTs, and easily sell and transfer with fast transactions and low gas fees. That’s why we see this as a perfect opportunity to add a gamification element to historical real-world events and corresponding uniquely created NFT art. As football is the most engaging sport out there and with sports betting being a huge industry, we thought we could add the excitement around the event and its matches in a new way which could be described as an NFT-based prediction market.
Shortly described, you will be able to mint an NFT specific to one of the participating countries in the FIFA World Cup. The funds from NFT sales will be directed towards a prize pool that will be 120% of the total sale volume. The reward pool will be distributed to the NFT holders that minted the NFT of the winning country and, based on the popularity and probability of that country, they will share the rewards with every other holder of that nation's NFT. Essentially, for everyone that minted an NFT in an open market, more NFTs of the best countries will be sold, which will make the relative size of all sales to the total sale in relation to a total prize pool. So it will be a prediction market as it by design will tilt the prize pool to reflect the odds of real-world sports events.
We are really looking forward to getting this Unique NFT feature out for the World Cup and we hope that this has triggered some interest in you. Check out our social media below and stay tuned for the upcoming detailed descriptions of the NFT gameplay. Holders of the James Rodriguez NFTs will be able to participate in the event for free. If you are not a holder, there will still be great upcoming opportunities to get a piece of the action through raffle games and giveaways
The ZKSpace (formerly ZKSwap) platform consists of three main parts: ZKSwap, the first Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare supporting fast and cheap Batch Transfer, and an NFT minting center and marketplace ZKSea. ZKSpace has been running since February 2021 with hundreds of function iterations, and no security incidents have ever occurred. With innovative NFT L1-L2 transfer, unlimited token listing, cheap and smooth deposit & withdrawal, and optimized efficiency, ZKSpace aim to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products in the near future.