Forkast Joins Ronin Network to Bring Prediction Markets to Blockchain Gaming

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Forkast Launches on Ronin Network

Community Gaming recently announced the launch of Forkast, a prediction market platform centered around video games. The platform will be incorporated into the Ronin network, a gaming-specific Ethereum sidechain. Forkast will allow users to forecast different gaming, esport, Web3, and online culture events in order to stake tokens and receive incentives. This project aims to infuse the thrill of gaming with the interactive features of prediction markets, creating a new dynamic in the gaming industry.

One of the first consumer apps to connect with Ronin, the platform that already houses well-known games like Axie Infinity and Pixels, is Forkast. The inclusion of Forkast expands the ecosystem of Ronin, which has made a name for itself in the blockchain gaming market. Offering prediction markets broadens Ronin's appeal to a wider range of users, especially those who want to wager on and win prizes depending on the results of different games and cultural events. For Ronin, this is a big step in building a more complete platform for developers and players alike.

Source: X

A platform built on blockchain technology, Community Gaming specializes in tournaments and competitive gaming. Its decentralized tools and services are intended to create a more welcoming gaming environment. In order to make the platform more accessible, Forkast will use Ronin Waypoint, a universal account and keyless wallet system, as part of their partnership with Ronin. To improve the user experience, this integration also makes gasless transactions possible for tasks like retrieving reward boxes. Community Gaming can optimize the user experience and facilitate their engagement with the platform by leveraging Ronin's infrastructure.

Chris Gonsalves, CEO of Community Gaming, expressed his confidence in the partnership, highlighting Ronin’s strong position in the gaming space."Ronin has established itself as a dominant force in gaming. We’ve been involved with the Ronin ecosystem for years, particularly through CG Tournaments. Their tools are reliable, and their ecosystem has remained strong through various market cycles. We’re excited to take the next step with Forkast,” he said. This long-standing relationship between Community Gaming and Ronin lays a solid foundation for the success of Forkast.

Features of Forkast

The future CGX coin from Community Gaming will serve as the foundation for Forkast. This token will be a central part of the platform, and users will be able to earn weekly loot boxes that contain a variety of rewards, including tokens, market credits, and other incentives. The loot boxes will be distributed based on user participation in making predictions and staking tokens.In order to maintain user engagement and give them continuous incentives to remain taking part in the prediction markets, the rewards system was created.

The anticipated January 2025 launch dates for both Forkast and the CGX token allow users enough time to get acquainted with the platform and get ready for the formal debut. Forkast may become a well-liked option for players who love the rush of making predictions and receiving material benefits if loot boxes are added as a reward system. The platform's emphasis on rewarding experiences and token staking fits in nicely with the expanding trend of gamified decentralized finance (DeFi) initiatives.

Source: X

For Ronin, the addition of Forkast represents a significant opportunity to keep users engaged and attract new ones. The network’s core focus has always been on gaming, and Forkast’s prediction market platform fits seamlessly into this ecosystem. Ronin can provide customers with a more engaging and fulfilling experience that goes beyond gaming by implementing this new functionality.

Co-founder and Chief Growth Officer Jeff Zirlin of Sky Mavis highlighted the importance of prediction markets in the gaming industry. Even during the more difficult times in the business, Community Gaming has been a crucial partner for Axie Infinity competitions. Now, with Forkast, they’re adding a whole new dimension to the Ronin ecosystem,” he said. According to Zirlin, prediction markets are a natural complement to gaming chains, as both have numerous potential outcomes—whether in-game or in real life—that users can bet on. This integration could also pave the way for other prediction-based applications within the Ronin ecosystem.

Final Thoughts 

An amazing advancement in the field of blockchain gaming is marked by the introduction of Forkast on the Ronin network. This partnership will help Community Gaming and Ronin since it gives users a new option to interact with the site. Forkast gives players a new and creative way to engage with the Ronin ecosystem by fusing the gaming and prediction markets. This collaboration is only the start, and if the platform expands, it may turn into a major gathering place for both gamers and cryptocurrency fans. The groundwork is in place for a new generation of consumer applications to flourish on the Ronin network with the January 2025 launch of Forkast and CGX.