The NFT sector has skyrocketed throughout the first half of 2021 after discreetly existing in the background of the crypto industry. Its recent growth curve is similar to what DeFi experienced in 2020. The most significant trend of the year aims to disrupt how collectibles and asset sharing worked. Many questioned it at times, but ultimately, it appears that most people are less skeptical of NFTs than of the crypto industry as a whole. A remarkable development, although one that highlights the potential of non-fungible tokens.
That change in public opinion has led to several new platforms that offer new and more advanced ways to use NFTs. One such example is Reality Cards, which combines non-fungible tokens with prediction markets to establish a brand new use case.
“I first heard the Reality Cards vision on the sidewalks of Paris at ETHcc in March 2020. NFTs + Prediction markets? I knew this was going to be huge.” JonJon Clark, CoFounder of Float Capital.
What Is Reality Cards?
Reality Cards is a unique platform that acts as a hybrid of NFTs and prediction markets, bringing new benefits to the table. In addition, the Polygon-based project differs from other NFT platforms users may have used prior and for many reasons. For example, unlike other platforms, Reality Cards allows users to collect NFTs and win money simultaneously.
The name Reality Cards comes from the fact that the project allows users to own the tokenized version of real-life events. Such events may include politics, sports, music, crypto, et cetera. That vision can enable the platform to become one of the most popular projects for recent history lovers.
As these events need to be tokenized, there is a significant demand for artists from all over the world interested in creating NFT art. Moreover, one can sell that art to enthusiasts who wish to claim ownership over these events that transpired.
Another crucial aspect of Reality Cards is its ties to the prediction market. As such, it allows users to bet on the outcomes of any event and own them. Thus, it is the world’s first outcome ownership market, a brand new category that did not exist before this project emerged. The NFT industry continues to grow and evolve every day.
This unique approach by Reality Cards changes things from what you may be used to as an investor. It is not important how much you bet, but how long you owned the outcome, as winnings are time-based rather than focusing on the amount. Moreover, users are encouraged to make bets. Doing so ensures early liquidity when the pot size is zero, and the cards’ price is at its cheapest.
Reality Cards Open Beta
Users who find the Reality Cards approach attractive will be happy to know that they recently launched their open beta. Initially, they managed to launch the testnet version of the platform earlier this year, in February. A thorough testing period was required to ensure it adequately worked. Moreover, the team has been able to collect viable user feedback. That feedback has been taken to heart, resulting in six months of fine-tuning and adjusting.
Today, the platform is finally ready to be used by anyone who wishes to own a slice of history and make money simultaneously. By becoming the longest owner of the rented card, the user keeps the NFT, with each outcome designed by recognized NFT artists. As owning and holding increases the profit potential, there is a collectible and financial incentive to check out the Reality Cards platform.
According to the project’s roadmap, it is currently in Phase 2 of its development. The current and last Phase of the roadmap will introduce underbidding, mainnet NFTs, and allow users to start creating events. That latter aspect is a crucial upgrade for the platform and can bring in a whole new audience.
Anyone interested in the project should be ready to move as soon as possible and prepare for buying or creating their own slices of history.