The first blockchain-a sweepstake for the world Cup CryptoCup announced that it will begin work on may 21. The championship is held every four years and lasts only a few weeks. Thus, each game taking place on the platform, will be a unique, time-limited event for sports fans and the cryptocurrency community is waiting for an unusual experiment.
Tokens called CryptoCup tied for the championship, will be traded only up to the end of the competition. July 23, at the end of the tournament tokens will be cashed, and their owners will receive prizes. The price of the token will be changes after every match, but for those versed in football, the high volatility could be an advantage.
The sweepstakes will run on the Ethereum blockchain. For the implementation of the code of the project responsible of GEG Colvin, the organizer of the Ethereum Magicians and developer of Ethereum Virtual Machine and the team Coinfabrik created purses Jaxx and RSK. Team members carried out the audit of the smart contracts of the platform and joined the project as its partners.
Each token CryptoCup is an electronic ticket in which the player indicates the forecast results of all matches of the championship. Token it is impossible to steal, forge or alter, but can be sold. Developing a model token, the specialists used a standard ERC721, which is different from ERC20 uniqueness and indivisibility of every token.
At the end of each match the player will receive a bonus for correctly guessing the result, and at the end of the championship the number of bonus points determines the payout. The points system is complex: main points the participants will receive for correct predictions of the winner, but bonus points will be earned for correctly guessing the number of yellow cards.
To participate in the game you need to purchase and complete the ticket-token. In the first week of sales, the price of a token would be approximately 0,045 ETH, and then it becomes much to increase each week.