SparkWorld*’s Fair Prediction Launches (FPLs) Explained
There is a gap in crypto that needs to be bridged which looks ever closer to the wealth gap in traditional ecosystems. The emergence of NFTs has made this gap even wider due to recurring wrong incentives.
Although it has been a delight to see projects rise and build technology with decentralised communities, at the simplest level, there are countless instances where the wealthy “boys’ club’’ comes in and takes large portions of the excitement from these communities.
Projects, in some cases, are also not so bright in many instances — because of the high volatility and upside potential in this space, many leave a number of members and participants in shambles.
We have recently started seeing large and influential, both institutional and individual investors competing and jumping over one another to invest in crypto projects in the more traditional way. Private fundraising stages allow these people to board the ship on a “first come, first serve” basis which SparkWorld* is aggressively against, because of the undeserved privileges the top existing players in the space get.
How To Bridge The Privilege Gap
At SparkWorld*, the basis that we operate on is FUBU, or “For You By You”. The acronym means that the community is there to give support to every project going through our platform in a distributed way, but only when the project adheres to standards and does not grant privileges either to itself or to more fortunate enthusiasts.
The type of NFT whitelisting that we often see today is simply unfair because of the points listed above, and SparkWorld* is rapidly addressing these issues and building proper solutions to them in the ecosystem.
SparkWorld* is a platform not focused on just one key feature, but rather providing opportunities such as access to NFTs, staking, and prediction rewards.
Because members of the community might be incentivised to participate and take advantage of one or more of those features, the entire structure of the platform and the inner mechanisms must be designed in a way that brings fairness to the system, and SparkWorld* is doing this with the innovative introduction of Fair Prediction Launches (FPLs).
What are FPLs exactly, how do they work, and how does the concept of them benefit ecosystems at scale?
Fair Prediction Launches (FPLs)
Simply put, Fair Prediction Launches help distribute any type of token in the fairest possible and equitable manner so that the distance between the players at the top and the less fortunate enthusiasts at the bottom of the chain is ever smaller in terms of platform accessibility and potential use.
Because speculation is terrible in most cases, FPLs were built to renounce the wishes for new and spicy trends that might even be questionable and increase the investors’ return potential through one crucial element — “individuality” within the ecosystem.
Individuality, in such prediction markets as SparkWorld*’s, means that nothing but the skill and ability of event prediction are things that matter, and this also comes down to the basic principles of proof-of-work, an individual’s proof-of-work from which the rewards generated differ because of how successful a participant is in determining, say, the outcome of a countries’ conflict in 2 months.
Accuracy of real-world event outcomes is the key element of the prediction markets, as you might already know, but what’s more is that with SparkWorld*, staking merges with forecasts, enabling the participant to put money behind forecasts with the potential token appreciation in the future.
However, the investor allocations on the SparkWorld* platform are not primarily based on prediction rewards but other features and opportunities of the system as well, such as original stake obtained and staking rewards.
SparkWorld*’s Features Complement Each Other
Each of these parts of SparkWorld*’s ecosystem work together and must conduct certain $SPRK token transactions among them, this way complementing each other and keeping the balance levels at a constant.
In order for SparkWorld* to achieve the type of fairness in crypto we all strive toward, many other abstracts must be considered such as transparency, low gas fees, and the levels of active participation.
Blockchain being transparent is self-explanatory, as the block explorers are open for the public to see and analyse different types of transactions and tokens associated. For the matter of gas fees, on the other hand, SparkWorld* uses advanced algorithms to allocate rewards and get rid of gas wastage.
In addition, fairness can hardly be achieved when a marketplace hosts a number of unverified projects with low levels of trust; SparkWorld* deals with this by both conducting due diligence on them itself and inventivising members of the community to “check up on ‘’ projects in order to get rewarded later.
The community’s skill shines at this very point — each participant within it is aware that if the wrong decision is made, and a not-so-honest project gets onboarded, both it and the rest of the community can get hurt badly.
The importance of the skill of accurate predictions in crypto is key to a more seamless, trusted, and transparent ecosystem which is in a mode of rapid acceleration. SparkWorld*’s values shine the brightest in the case of multiple features and incentives that the community can thrive in.
Let’s get moving with Fair Prediction Launches, increase equity, equality, and lower the barriers to entry, gas fees, and the large gap of ecosystem status.
All big things start with a Spark.