NFT Market Structure

FORE Predict is built on NFT contracts that stores information about all created markets of all market types, and is the first prediction market leveraging non-fungible tokens (NFTs) to maximize value extraction for users.

Creator NFTs (mNFT) are minted and distributed to market creators for each unique market for each whitelisted market type. When a user creates a market, they receive an mNFT to represent their right to the appropriate protocol rewards. The purpose of the mNFT is to provide a) a mechanism to distribute rewards to creators; b) an incentive to create greater value by attracting greater participation to creators' respective markets; c) create a dynamic and liquid market for creators' votes in the protocol. This innovative structure creates an incentive for greater adoption and engagement with all users. Since value accrues directly to the owner of the NFT, we created a dynamic and liquid secondary market for these tokens.

Meanwhile, users validate market results by holding an Analyst NFT. Claimable rewards are directly proportional to the β€œsize” (or β€œpower”) of the NFT. Everyone starts at the same β€œpower” level, but can increase their NFT size with consecutive accurate validations of market outcomes. Penalties for inaccurate validations also exist asymmetrically to guide user behavior.

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