Gaming Prediction Market Forkast Set to Launch on Ronin

Community Gaming has announced the upcoming launch of Forkast, a gaming prediction market built on the Ethereum sidechain Ronin, set to go live on January 7, 2025. Ronin, a blockchain developed by Sky Mavis, the creators of Axie Infinity, is expanding beyond gaming and moving towards consumer-focused decentralized applications (dApps). The launch of Forkast marks a significant milestone in Ronin’s evolution, transitioning from a blockchain primarily focused on gaming to one that serves a broader range of consumer applications.

Forkast will allow users to make predictions on various topics, including gaming, esports, streamers, and Web3. The platform offers users the opportunity to engage with trends and events within online cultures, gaming communities, and internet culture. Participating in these prediction markets will not only provide entertainment but also allow users to earn rewards based on the accuracy of their predictions.

In addition to making predictions, users can stake CGX tokens to earn rewards. The staking model offers periodic rewards and liquidity boosts, which are designed to encourage user engagement and ecosystem growth. Forkast will also offer weekly rewards to further incentivize active participation.

The platform emphasizes cross-platform interoperability, allowing users to seamlessly transition between Community Gaming and Forkast for activities such as predictions, tournaments, and quests. With the integration of Ronin Waypoint, a keyless wallet system, users can easily participate in the ecosystem without needing seed phrases or wallet extensions. This system simplifies the onboarding process for new users, reducing barriers to entry in the blockchain space.

Another standout feature of Forkast is its gasless transactions for claiming rewards, such as loot boxes. This eliminates the need to pay high gas fees, especially on networks like Ethereum, where transaction fees can be significant. This feature not only enhances the user experience but also attracts users who may be unfamiliar with or deterred by the high costs of gas fees in blockchain transactions.

Ronin has also recently adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP), allowing the network to interact with other blockchains, further enhancing the functionality and potential of Forkast. This cross-chain capability will enable Forkast to connect with other blockchain ecosystems, broadening its user base and expanding its utility.

With the launch of Forkast, Community Gaming is entering the prediction market space, combining entertainment and finance in a novel way. This development will not only foster growth for the Ronin ecosystem but also expand its reach beyond traditional gaming applications. Forkast has the potential to drive the growth of decentralized finance (DeFi) on Ronin and may serve as a foundation for further decentralized applications in the future.