Predictions on the World Cup games of CryptoCup rely on Ethereum to combat corruption in sports betting
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The CryptoCup was born from an idea of Federico Goldberg, one of the hackathon winners Ethereum ETHBuenosAires who, instead of opting for the usual collectable tokens like those of CryptoKitties, chose the ERC721 token to represent bets on the teams involved in the 2018 World Cup.
How the game works
Each token is unique and not replicable.
Each of the 32 teams that will participate in the World Cup has its own token.
The aim of the game is to be able to correctly predict as many games as possible.
Whenever the result of the match is right, you climb the rankings approaching the prize that will be divided between 10% of the first accounts.
The prize depends on the number of participants and grows with the number of transactions because, for each transaction, a 5% commission is applied that feeds the prize.
Few days before the start of the World Cup there are 28 ETHs.
Players can connect and make their predictions even now.
Once the prediction is made, the player sets the value for each token.
For those who want to bet only on the semi-finals, there is this possibility and when the World Cup starts the tokens end and can be exchanged between the participants of the game.
The Football World Cup is the biggest sporting event in the world to which more than 3 billion people connect.
The CEO of CryptoCup says he has participated twice in the event and from that moment started the desire to build the DApp: “We wanted to combine this popularity with blockchain technology to build something different from an ICO or collectible”.
Other cups supported
CryptoCup will not end with the World Cup and there is already the plan to use the DApp also for other sporting events such as the famous American football, ice hockey and other major football events such as the Champions League.
“We have created an honest and transparent betting project. The concept will also be easy to adapt to other sporting events, such as the UEFA Champions League, the NFL and the NHL. The World Cup platform is exciting, as we’ve grown up loving the sport and the tournament, but it’s also just the tip of the iceberg” said to Forbes the CryptoCup engineer Martin Nagelberg.