The Qatar Fifa World Cup 2022 is just around the corner, and there was a recent prediction published on FourFourTwo about a supercomputer predicting that Lionel Messi’s Argentina would win the competition in a penalty shoot-out against Cristiano Ronaldo’s Portugal. Some of us would whole heatedly agree with that prediction while many others would consider it hogwash and favour another team.
According to FourFourTwo, the science and rationale behind this prediction goes straight over our heads. However, what if there was a way for all of us to collectively put forward our prediction on who could win the World Cup leveraging our individual knowledge of the tournament and its history in order to put forward a more accurate prediction than any single individual can accurately provide?
Say no more, because Futuur is here to make this long-awaited fantasy a reality.
What is Futuur?
Just like the name implies, Futuur (pronounced FU-TOR) is a platform that harnesses the power of the community to make more accurate predictions. In other words, Futuur is a cryptocurrency betting platform that allows users to wager on or against the likelihood that an incident will happen. Futuur makes this possible through open betting on almost any event of import happening anywhere around the world.
Futuur is a new forecasting platform where the community competes to predict future events like politics, sports, science, entertainment and more. For Instance, there is a current forecast on Futuur that questions if the supreme court would reverse the legality of same-sex marriages by the end of May 2023. To get in on the action you simply have to vote “YES” or “NO”.
Examples of predictions that can be found on Futuur
How does it work?
The foundation of Futuur is a prediction market, a method of leveraging the knowledge of the population to more accurately forecast the future. According to statistics, the average of all the predictions made by a group of people will typically be more correct than the best individual prediction. Similar to this, on Futuur, the crowd's collective wisdom is used to produce future forecasts.
On Futuur, you make your forecast by purchasing shares in an outcome using Ooms(Futuur’s in-game currency). Share prices range from zero to one(0-1) and represent the percentage chance of that outcome occurring according to other users of the platform(and not some computer-generated bookie). If you are right, you will earn one Oom for every share you hold.
The price fluctuates as the audience makes its forecast, reflecting the most accurate and current estimate of the likelihood that the outcome will really occur.
You could also bring forward your own questions for the community to predict on as well as follow your friends and forecasters you respect on the platform to find out what's on their mind and if you are interested in betting for or against their future predictions.
How to get started
- Create a Futuur account using your email, Facebook or Google accounts. Registration is free and all users receive 10.000 Ooms, to begin with.
- Add funds to your wallet using any cryptocurrency of your choice and send them to the indicated address. Funds would be credited to your Futuur account.
- Pick any market of your choice ranging from politics, sports, business, entertainment and many more.
- Place a bet on any event you believe you can predict the outcome. Share prices range from 0-1 which represents the percentage of an event occurring.
- Wait for the market to expire, and if you bet on the right outcome you win. You could also sell your position at any time before the market expires.
Benefits of Using Futuur
Futuur is a very pragmatic and more realistic way of predicting future events and trumps conventional betting in many ways. Some advantages of using this platform include;
- Swift deposits and withdrawals
- Realistic odds are based on the input of other users instead of a computer-generated odd.
- Absence of bookkeepers and their somewhat draconian terms and conditions.
- Instant cashout at any time as users can sell their positions even when the market hasn’t expired.
- The privacy of users is respected as no KYC is required by the platform except if your cumulative lifetime deposits exceed $2000 USD equivalent
The drawback of using Futuur
The only disadvantage of using Futuur at the moment is that users’ wallets are connected directly to the platform which could make users a bit uncomfortable. Although there has been no known knowledge of a hack or theft on the forum, it still seems like a feature the developers might need to pay close attention to.
CONCLUSION
Futuur is a novel idea and one that could increase the adoption rate of cryptocurrencies in the world, this is because it uses simple real-life events that users know about to give users a chance of earning cryptocurrency.
With the biggest football festival just weeks away, it would be a nice time to leverage the collective knowledge of the community to predict World Cup events and win.
