With the 2018 FIFA World Cup in Russia beginning in two weeks, Cryptocup, the first game for the prediction of the World Cup results based on the blockchain technology keeps attracting more players, according to the intense activity on its official Telegram group. The Cryptocup group on Telegram already has around 2,000 members.
As usual when an important sporting event approaches, millions of fans around the world are using the betting houses to predict the results of the games. Cryptocup combines the advantages of the blockchain technology with the sports betting on its platform. The platform uses the Ethereum blockchain network to allow the users to register their predictions for the upcoming soccer World Cup in the Russian Federation.
The goal of the game is to predict the results of the 64 games that will be played during the World Cup. The predictions are then registered in an ERC721 token, once the user registers to participate in the game.
Each time a game is finished, the token with the correct prediction earns points. Once the World Cup concludes, the winning tokens will receive a reward in ethers from the pot or the accumulated well. The pot is growing with each new registration. This is what the official website says about the game: “Cryptocup is the first World Cup prediction game in the blockchain. Players are able to build their own tokens by setting their own predictions. Each token is customizable and unique as it holds the player’s choices. Players will earn points when comparing their predictions with the real results. Those with more points will be rewarded by redeeming their prize from the Smart Contract.
You will earn points by predicting the winner and/or goals of each match of the group stage, the results of the brackets, and there are a few bonus points for predicting the number of Yellow and Red cards.”
For example, during the group phase of the World Cup, the correct prediction of the winning team brings three points, but if you predict the exact score, you will receive 10 points. The number of points grows as the World Cup progresses. As an illustration, a player will receive 60 points if the chosen team reaches quarter or semi finals and 50 points if the prediction team reaches the finals. The player who correctly predicts the next world champion will be awarded with 50 additional points on his token.
At the moment, there are 20.48 ethers accumulated in the pot. The cost of the registration for the game is currently 0.075 ethers, but this cost will be increased to 0.11 ethers from June 5th, 2018. The users who wish to join the game on June 12th and 13th will have to pay 0.15 ethers in order to receive their prediction tokens.
Out of all the acquired tokens, the 10% with the most points earned will be rewarded. The amount of the reward depends on the relative position of the token on the scoring board. This is what the developers say when it comes to the distribution of the rewards: “Prize allocations will be distributed on July 23rd. Players holding the winning tokens will redeem the prize through the Smart Contract.”
Once the World Cup begins, a market for the tokens will be launched and the players will be able to buy and sell their tokens. The price of the tokens will be determined by the market itself.
Martín Nagelberg and Teófilo Duffau, two members of the Cryptocup team, were part of the team behind Token Toilet. Token Toilet was one of the winners of the Hackathon last weekend during the ETHBuenosAires event held in the capital city of Argentina.
Token Toilet allows the users to flush the unwanted tokens. On the other hand, the application allows other users to buy a bag of unwanted tokens for 5 DAI. Afterwards, the earned DAI tokens are given to charity.
One more thing related to Cryptocup. The users interested in joining the game need to open a Metamask account. Metamask is a plugin for Google Chrome, Mozilla Firefox, Opera and Brave whose goal is to act as a bridge between the decentralized applications and the Ethereum blockchain network.
