How Wallfair is redefining social event trading and online casinos
The global gambling industry is worth over $711.4 billion and is expected to reach $876 billion by 2026.
Despite its massive size, the gambling industry is identified with limited innovation, low customer experience and lack of transparency. Its online adoption is limited to a mere transition from physical establishments to their online counterparts, without any innovation witnessed across the industry.
Wallfair, a blockchain-based social event trading platform, is set out with a goal to redefine how people gamble and place bets online while having access to hundreds of events and live feeds to choose from.
Unlike most online betting platforms, Wallfair capitalizes on the transparent nature of the blockchain and brings forth an event trading platform that operates without middlemen, shares and revenues with the players, and provides open tracking of all the activities through blockchain.
Wallfair finished its initial DEX offering (IDO) on October 12, 2021, followed by the listing of its token on Uniswap. Before we get to those details, however, let’s find a bit more about Wallfair and what it has to offer.
What is Wallfair?
Wallfair is a social event-trading platform that allows content creators to stream their live feeds through their platform and create events and bets for their viewers. For instance, a Volerant gamer/influencer can stream his live Twitch feed on Wallfair and create bets on the outcome, as well as ongoing events of the game such as a Pentakill. The viewers can place bets on live events, settle their rewards instantly and interact with other community members in the process.
Wallfair has an ever-growing pool of influencers including popular esports gaming teams, lifestyle influencers, athletes and entertainers that allows it to offer unlimited entertainment to its platform users. For influencers and content creators, Wallfair provides a platform to monetize their content, issue NFTs to their audience and interact using a suite of innovative communication tools.
Democratic event creation
Online gambling and casinos are accustomed to running the same games, formats and reward structures ever since their origin. Wallfair challenges the “Casino always wins” ideology by democratizing event creation. In its initial phase, Wallfair plans to onboard event creators under its event creator program, Wizards and Unicorns Program, to ensure that the platform has multiple high-quality events available at any time. These event creators are incentivized to set up high-volume attractive events based on the available live feeds and exclusive events.
NFT marketplace to unlock special perks
Wallfair integrates nonfungible tokens (NFTs) within its ecosystem in the form of “Seasonal Passes” and “Achievement Passes.” Season passes unlock special perks for users and content creators such as customizable platform avatars, lower fees, access to Wallfair exclusive events, sticker packs and governance/loyalty tokens.
For content creators, these passes offer special features such as tracking player leaderboards, creating treasure hunts with special NFTs and selling or auctioning NFTs through Wallfair NFT Marketplace.
Achievement NFTs are designed to track user progress and reward them with special avatars, seasonal sticker packs and lower platform fees.
Community governance mechanism
Wallfair implements a community-led governance mechanism that stands in line with its democratic principles. As a measure to mitigate the impact of major token holders on governance, Wallfair integrates a voting formula that takes into account the engagement level of voters, along with the number of WFAIR tokens they own when weighing their voting power. Wallfair community votes on the development and the direction of growth of the platform.
User-friendly interface for mass adoption
Several platforms utilize blockchain technology for creating online gambling and event trading decentralized applications (DApps) including Augur and Gnosis, but these platforms are designed with crypto users in mind, which limits their adoption ratio.
Wallfair leverages the transparency, immutability and speed of scalable blockchain infrastructure, but it focuses on providing the utmost user experience without making it complicated for the users.
Wallfair offers simple fiat on-ramp integration that allows users to purchase tokens, NFTs and in-platform assets with their credit cards and cryptocurrencies alike. Its elegant yet clean interface ensures that the users have an amazing betting experience and fun while using the platform.
Wallfair is built on Polygon
Wallfair is built on Polygon, a full-stack scaling solution for Ethereum applications, which allows it to process transactions swiftly and offer a minimal lag betting experience to its platform users. Wallfair utilizes fiat on-ramp, state transfer, meta transactions and the blockchain infrastructure services offered by Polygon including oracles, indexing modules and bridge.
WFAIR Token: Casino chip for Wallfair ecosystem.
At the center of the Wallfair ecosystem is its ERC-20 digital casino chip, WFAIR token, that is integrated into every aspect of its operation and governance. Wallfair content creators and users will be able to create events, participate in events, liquidity mining, governance mechanism and dispute resolution within the platform. WFAIR will also serve as the default currency for the Wallfair NFT marketplace.
Wallfair launched the WFAIR token on Oct. 12 through a public IDO on Trustpad and listing on Uniswap. It is currently trading on Uniswap with planned listings on different centralized exchanges to provide users with convenient options to purchase the token. Wallfair has announced a liquidity mining program for WFAIR tokens, rewarding token holders for their support and trust in the brand.
Wallfair Roadmap and development
With the launch and listing of the WFAIR token, Wallfair has streamlined its project roadmap with multiple upcoming platform updates. Wallfair is all set to conduct a limited beta-testing of its play-money version with its team, selected influencers and investors. The play-money version of Wallfair will allow users to experience the ecosystem, place bets on live events and stream live events with play-money tokens.
A visionary team and leadership
Wallfair comes from a team of seasoned entrepreneurs, fintech experts and technology thought leaders led by Sebastian Diemer, Marcin Rudolf, Sebastian Gajek and Florian Stilger, with a single goal of decentralizing online betting and gaming through their platform. The current progress and growing ecosystem of business partners reflect the determination and wit of this team to take Wallfair forward.
Wallfair latest news
Wallfair has finished its IDO on October 12, followed by the listing of WFAIR token on Uniswap. The startup is working on launching the play-money version of its platform in the coming weeks.
Wallfair is a social event trading platform that democratizes the creative economy, enabling real-time speculation on live events using an in-game token. With a distinct focus on socially engaging, fast-paced and immersive experiences, Wallfair takes watching live events to the next level by enabling the audience to seamlessly trade and profit from speculation markets. In essence, our ecosystem is designed to give creators more ways to monetize their content while increasing their audience and community engagement.