Gaming prediction market Forkast to launch on Ronin

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As a seasoned researcher with a keen interest in the intersection of gaming, blockchain, and decentralized finance (DeFi), I find the upcoming launch of Forkast on Ronin sidechain incredibly exciting. With my past experiences dabbling in Axie Infinity and Pixels, it’s fascinating to see how Ronin is expanding its ecosystem beyond gaming into consumer-focused dApps like Forkast.

Community Gaming has revealed plans for the debut of Forkast, which is a gaming prediction market based on the Ethereum-linked sidechain known as Ronin.

Ronin, the blockchain platform built by Sky Mavis, the team behind Axie Infinity (AXS), is also used for other projects like Pixels. Once Forkast launches, users will have the ability to make predictions on diverse subjects such as gaming, esports, streamers, and web3, as indicated in a press release from Community Gaming.

The on-chain prediction market is set to launch on January 7, 2025.

In a blog post announcing the upcoming launch, the Ronin team said:

This achievement signifies a substantial step forward for Ronin, as they progress towards creating an ecosystem that expands beyond gaming and encompasses consumer-oriented decentralized applications (dApps). Simultaneously, their $CGX token will debut on the Katana DEX in conjunction with Forkast.

After Forkast’s initial announcement earlier this month, the expected launch is next, marking the incorporation of the predictions marketplace game as one of the first applications integrated with Ronin. This integration is expected to enhance the growth of decentralized finance within Ronin.

Stake and earn rewards

On Forkast, users can deposit their CGX tokens to garner rewards as they make predictions on specialized markets that revolve around internet culture, gaming, esports, and web3. This platform provides weekly incentives and daily liquidity enhancements to foster increased user interaction and the expansion of the ecosystem.

Additionally, the system prioritizes compatibility across different platforms, enabling users to seamlessly switch between Community Gaming and Forkast. This cross-platform feature enables activities such as making predictions, participating in tournaments, and embarking on quests. The inclusion of cross-chain support will enhance these interactions even more.

With the growing popularity of cryptocurrency gaming and prediction markets, it’s essential that user onboarding becomes seamless. ForKast aims to utilize Ronin Waypoint, a system that offers account management and keyless wallet services within Ronin. This means users can engage in unified gaming experiences without the necessity for seed phrases or wallet extensions.

As an analyst, I can express that by utilizing Waypoint, users will reap the advantage of gasless transactions when redeeming rewards like loot boxes, thereby enhancing their overall experience and minimizing transaction costs.

In October, the Ronin validators integrated Chainlink’s cross-chain compatibility system (CCIP), making it the official cross-chain infrastructure for their network. This week, CCIP was activated on the Ronin network.

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2024-12-23 19:05