Truemarkets, a decentralized prediction market platform built on the Base Layer 2 blockchain, has officially launched operations.
Long-Awaited Start and NFT Sale Success
Truemarkets' debut follows its successful Oracle Patron NFT sale in November 2024, which raised over $4 million. Ethereum co-founder Vitalik Buterin participated in the sale, minting 400 NFTs.
How Truemarkets Platform Operates
Like Polymarket, Truemarkets aggregates real-time headlines for trading outcomes. Participants buy and sell 'YES' and 'NO' tokens for various scenarios. Prices fluctuate based on market sentiment, and correct predictions can be redeemed for $1 each upon conclusion.
Impact on NFT and Cryptocurrency Markets
The launch coincided with a broader rebound in the NFT market. DappRadar reported a 22% increase in trading volume in November 2024, totaling $698 million, driven by rising token prices, liquidity, and investor confidence.
The launch of Truemarkets and its associated NFT sales highlight the renewed interest in blockchain initiatives and their potential on the market.
