Pooky, a gamified Web3 risk-free prediction app, announced via a press release that its Genesis NFT Collection is ready for minting starting on 28 February. The Genesis NFT collection will come with various levels of rarity, which correspond to the value of the NFTs.
The most valuable NFTs are scarce and have higher attributes that boost players’ prediction strategies.
Apart from the in-game value of the non-fungible tokens, the 1,000 Genesis NFT collection will be counting on the experience and popularity of its collection designer to build additional momentum. The 3D studio designed the collection Serial Cut, whose impressive portfolio of high-profile clients includes Nike, Spotify, RedBull, Adobe, Diesel, Converse, and Facebook.
A case of proper NFT timing
An interesting point to note is the impeccable timing of the minting period. A recent report shows that the NFT market is recovering as the trading volume in January hit a 7-month high.
The sales volume of NFTs increased by nearly 41% from the previous month, with the dollar value hitting approximately $997.5 million.
The soaring NFT sales volume is buoyed by the bullish momentum that engulfed the crypto market since the turn of the year.
With the market conditions as ripe as they are, this may be the right time for NFT collectors or Pooky’s players to get in on the app’s Genesis NFT collection.
In the future, the value of the Genesis NFT collection may be tied to Pooky’s value proposition as a risk-free sports prediction app.
Building the future of sports predictions
The crypto industry is keen on revolutionizing several, including sports predictions and betting.
According to Pooky, “predicting on sports should be fun and rewarding not the reason to lose all your savings.” The traditional sports prediction and betting industry is a multi-billion industry though the majority of regular punters lose their money.
With Pooky, the risk of losing money is very low while the upside potential is huge. It aims to attract a community of players through this offering. This also raises questions about how Pooky sustains its business if it focuses more on player rewards.
The Web3 prediction app has a business model consisting of two revenue streams. The first one is primary sales. Pooky issues collectible digital assets that can be traded freely. Secondly, Pooky is entitled to a 5% creator fee whenever its NFTs are traded.
When it comes to player rewards, Pooky adopted a multi-token system. Players earn rewards in $POK, the app’s native token, as well as MATIC, one of the top 10 cryptocurrencies in the world with a market cap of $12.8 billion at its current price of $1.47.
Pooky plans to launch another token – $TPK – in the future. The app’s roadmap includes extending the sports its supports.
Currently, players can only bet on football, one of the most popular sports in the world. For reference, about 1.5 billion people around the world watched the FIFA 2022 World Cup Final match between Argentina and France.
Can Pooky pull it off?
The big question is whether Pooky can pull it off in the long run. This is a legitimate concern given that more than 3,000 cryptocurrency projects that were listed on Coingecko in 2021 have failed.
Pooky will argue that it has what it takes to reach its goals as Claudio and Stefano Riff founded it, two brothers with extensive knowledge of current sports betting platforms and their shortcomings.
Moreover, the project raised €3 million ($3.21 million) from pre-seed investors, including Claster Investments VC. And for the culture, Pooky can take pride in launching in November 2022, at the deep end of the brutal crypto winter. It takes great conviction to do so.