FORE Protocol initially started out as an idea to build a Web2 sportsbook using machine learning and analytics to offer users better pricing and odds. The three founders quickly realized that the core problem they were trying to solve was centralization, not just pricing. They soon discovered that the answer could not be a solution that enhanced the current prediction landscape, but one that disrupted it entirely.
Fast forward to today, and FORE has evolved well beyond ‘another sportsbook’ into a truly decentralized predictions ecosystem that is powered by people. The first critical milestone towards achieving that goal was the launch of FORE token on June 30th. Today, the FORE token is actively traded on various exchanges, including MEXC, Uniswap, and RocketX. While an incredible milestone for us, the launch of our native utility token was just the start.
Following the successful completion of our security audit, we will be launching FORE Predict: the decentralized predictions platform where you can find, or create, prediction markets on any event. Despite a recession, the global online prediction market reached $80 billion last year and is expected to reach $134 billion by 2028. For the first time, FORE Predict will enable you to capture a share of this value, rather than the exploitative centralized entities that have dominated this space for so long.
The launch of FORE Predict’s mainnet is the most critical step we’re driving towards next. Check out what we’ve got in store for FORE this quarter:
FORE Predict launch: FORE’s peer-to-peer predictions platform will launch on the Arbitrum network following the completion of our security audit. Users will have the ability to create prediction markets, set market odds, engage in markets against one another, and validate market outcomes. The launch of FORE Predict mainnet signifies the start of revenue generation for both FORE Protocol and our users. As the rate of deflation of FORE token is directly proportional to activity on the protocol, launch will kick-start FORE's deflationary tokenomics.
NFT marketplace live: In order to earn rewards through successful validation, users must lock and burn FORE in order to mint an Analyst NFT, which can be minted and traded on FORE’s NFT marketplace. FORE’s NFT Marketplace will be live alongside FORE Predict’s mainnet. Once again, this will signify the start of yet another revenue stream for FORE and our community.
Fiat on/off ramp live: Decentralized prediction markets have failed to capture market share from traditional markets due to the difficulty in onboarding newcomers into DeFi. Via a third-party fiat on-ramp integration, users will be able to purchase FORE (and other assets) on FORE Predict using Apple Pay, Samsung Pay, Visa, Mastercard, bank transfers, and more - allowing ANYONE to use the platform.
Gamification seasons: FORE plans to ‘gamify’ its interface to bring “play-to-earn” to predictions. Users will be able to unlock achievements for long-term participation, completion of challenges, and more.
Partnerships and sponsorships: Partnering with third parties with audiences of scale will allow us to bring greater attention to the protocol, both within and outside of the blockchain space. With a number of exciting partnerships yet to be revealed, we will begin to start rolling these out in Q3.
Having launched the first iteration of FORE Predict, the fourth quarter of 2023 will be crucial for further expansion of the platform via additional integrations and features. Learn more:
Additional chain integrations: With the goal to become a chain-agnostic protocol for ultimate accessibility, EVM-compatible chains such as Ethereum, Polygon, and more will be integrated based on user demand and ecosystem value.
Secondary market launch: FORE Protocol is the first predictions market leveraging NFTs to maximize value extraction for users. Since value accrues directly to the owner of the NFT, we are creating a dynamic and liquid secondary market for these assets.
FORE Predict 2.0: We have built our MVP around a parimutuel market structure. We plan to expand our offering to include several market types and structures based on user demand, including (but not limited to): - Categorical Markets - Ordered Markets - Parlay Markets - Floating Point Markets
2024+ The Future of FORE
The year 2024 marks the beginning of FORE's expansion plans both vertically and horizontally:
FOREPredict Mobile App: Deployment of iOS and Android applications for improved user experience on the go.
Expansion of the FORE ecosystem: Scaling FORE outside of the prediction landscape will be a crucial part of our long-term sustainability. Applications built on the protocol will be separated into two core architectures: applications leveraging the technology itself, and applications leveraging its output: the data recorded on-chain. Priorities for development in 2024 include: - FORE Oracle - FORE Audit - FORE Sight - FORE Resource
As we build and launch new features alongside our community, our roadmap will develop alongside us as we build a new world of predictions: one that is powered by YOU. You will play an important role in the development, adoption, and expansion of the FORE ecosystem, and be rewarded alongside our growth.
Stick along with us for the ride - it’s going to be an exciting journey.
The FORE team joined Reddit’s #1 crypto community for another AMA with almost 7 million members. Check out our recap of the event.
FOREcademy
March 7, 2024
DeFi prediction markets as a source of truth in an age of misinformation
FOREward
April 5, 2023
VIETNAMESE AMA RECAP
FOREcademy
May 5, 2023
FORE HACKATHON SNAPSHOT IS COMPLETE
The FORE hackathon has come to an end! Final rankings snapshot has been taken, with updates to come on reward distribution, platform developments, and upcoming public sale.
