Yoda’s NFT Prediction Markets

Published on: 23.10.2021

Yoda launched Yoda’s NFT Prediction Markets, a first-of-its-kind product that will enable users to enter prediction markets by simply buying NFTs of their favorite sports teams/players.

NFTs are seeing rapid adoption across a wide range of sectors. Yoda’s NFT prediction markets combine the aesthetic appeal of NFTs with the thrill of winning in prediction markets.

🔹How will it work?

With the first iteration of Yoda’s NFT prediction markets, we are going to start with the T20 cricket world cup. Users can buy NFTs of the teams that they support or they believe will win the T20 world cup. NFTs can be bought at the primary marketplace till the 31st of Oct 18:29 PM UTC. Post the primary sale, users can trade the NFTs on secondary marketplaces such as OpenSea.
The proceeds collected from the primary NFT sale will be kept in a pool. Reward pool will be used for the following purposes:

🔹Rewarding NFT Holders

Winners: 60% of the pool will be distributed to the NFT holders of the winning team
Runner-up: 30% of the pool will be distributed to the NFT holders of the winning team
Top bidders: 5% of this reward pool will be given to the top 15 wallets who have the highest volume on Yoda during the world cup. The volume will be the combined volume of the NFT prediction market and the traditional markets on Yoda.

🔹Yoda treasury

The remaining 5% of the pool will go to the Yoda treasury for —

a) Incentivizing future campaigns on Yoda
b) Rewarding the Dfyn community, our primary launch partner.

3. Once the tournament is over, NFT holders of the winning and second-placed team can claim their rewards. On top of these rewards, these NFT holders can also claim limited-edition framed NFTs by burning their original NFTs. Holding these limited edition NFTs will make users eligible for exclusive benefits in the future.