Fancy yourself as a football pundit? You could prove you predictive chops and earn cryptocurrency at the same time!
Yesterday, we reported on how Colombian football captain, James Rodriguez, is using the increased profile of the upcoming World Cup as a platform to launch his own cryptocurrency, JR10 – the first such venture from a footballer that’s still playing. Now, Digital Trends is reporting on another company hoping to link cryptocurrency with the tournament – only this time more directly. In a upgrade on the usual office sweepstakes and so-called ‘bracket’ prediction games (like FIFA’s own), from June 14 to July 15 sportsball aficionados will be able to show of their result prediction skills and earn digital currency while they’re at it.
Cryptocup, you see, offering would-be pundits the chance to earn Ethereum-backed ERC721 digital tokens for picking the winners of World Cup matches. In what appears to be a mix of sweepstake and bracket games, players will stake Ether in exchange for entering the contest, with the top 10% of those who pick winners sharing the pot at the end of the tournament. Crypocup’s owners are taking 25% of the total pot to cover their costs. Another layer of interest is added by the fact that tokens can be traded between players as the tournament is ongoing, meaning that if – for example – you had a very good score by the end of the group stages, you could cash-out that success by selling your tokens to someone else looking to push themselves up the leaderboard in the hope of getting a slice of the prize.
The total pot stood at 19.5 ETH at the time of the report – roughly $11,000 – that, of course, could go up in fiat value if the price of ETH rises in the next month. A buy-in will cost .075 ETH, but you must be on-board by June 13th.