November 11, 2022

Predict, Create, Collaborate: Bringing SparkWorld*’s Values To Life

The generation of crypto and NFTs have been undergoing changes as factors like market conditions, venture capital allocation , funding, and the culture shift.

Despite the prominent excitement and innovation in this wide variety of ecosystems, one can see inefficiency and unfairness arise because of people’s incentives and the way they are presented with new technology that has incredible potential to change the financial system and the world as we know it.

We must be careful when considering the most crucial aspects to work on in decentralised environments, as some things like speculation and lack of understanding can often grow to something bigger and affect systems that were initially built to decentralise in the first place.

It is time to get down to the roots and values of what really matters in the cryptographic world and see how players like SparkWorld* will be pushing the narrative of accessibility and trust moving forward.

Predicting The Future

Prediction markets on-chain have been seeing large amounts of buzz and participation in recent years. Projects like Finance.Vote & OptionRoom are innovating the way we look at events happening in the real world, real-time.

Protocols are being built that provide verification and confirmation of outcomes when players are involved in having their say on them with actual skin in the game, the skin being digital assets.

Predicting events requires advanced mechanisms that blockchain companies in the UK and Europe have been implementing and feeding real-world data into decentralised networks on which dApps are sitting, with participants awaiting the final results.

Why Predictions Are Good For Everyone

The real-world data that is being fed to blockchains can be gathered in different ways, which is also being actively optimised. In short, prediction markets allow people not only to try understanding the world around them better but receive adequate rewards for guessing outcomes correctly.

Every party is pushed toward doing research and learning for their own good, with the incentive of earning rewards. We need those systems that bring DeFi enthusiasts together and create an immersive experience for everyone involved.

The concept of on-chain data that is brought from physical world samples can not only be beneficial in prediction market dApps but also take into account the issues our society stumbles upon day by day.

Because data gets accessible, verifiable, and secure in decentralised environments, we can expect even things like elections, charity ventures, or organisational decisions to be conducted on blockchains.

Another part of the data-on-chain concept is the fact that DAOs (decentralised autonomous organisations) can accelerate their efforts toward making distributed selections and choices with the help of every member of the community.

Big data is quite literally making the world a better place, as statistical computations, and with them, predictions can be incredibly useful for having a better image of economies, social systems, and noble causes.

What Will Data Bring Us?

Predictions in DeFi and NFT ecosystems will help fuel the incentives for making this data better utilised through ordinary people’s reward structures and so much more. A large portion of SparkWorld*’s inner workings and operations is most of the points on predictions mentioned above.

At SparkWorld*, despite being deeply involved in the prediction market ecosystems, we strive toward making the means of distributing and obtaining non-fungible tokens in a more seamless and fair fashion.

Most of the current issues in NFTs and their environments are clear: the whitelisting problem, unfairness, and the concept of “first-come-first-serve”. Each one of these and more has to be eliminated to have a decentralised world where no party gets looked down on or receives some sort of VIP treatment within the ecosystem.

In addition, there are numerous instances in crypto and NFTs where the project itself is misbehaving and working against its members. At SparkWorld*, we solve this by our simple yet powerful due diligence process — we get to review each NFT that is eager to onboard, making our platform safer than the industry standard is today.

Traits Needed To Build Proper Systems

In the case of both the platform itself and the product NFT distributors on it not showing enough care for the customer, one might soon see an emerging catastrophe. We hope to make the NFT collection, trade, and curation experience better-trusted, safe, and secure for everyone involved, which is not being actively worked on at this time.

Trust must be built from both sides of the coin — the creator’s side, and the NFTs enthusiast’s. Whether it’s static imagery art, collectible documents, even music tracks as NFTs, we must build a sustainable residence to store, trade, buy, sell, and collect them — the world is shifting toward decentralised systems, but we can’t have them if they are not fair or operate freely enough.

The collaboration aspect in crypto is as important as the prediction markets and the creators. Spark is moving in the direction of becoming a DAO one day, and that demonstrates that community and its frequent gatherings are crucial for us to build an engaged ecosystem, each part of which has high levels of trust in one another.

Moving Forward

To see the future of both Spark and the ever-growing NFT community, we should consider the fundamental values that the Spark team moves forward upon: fair participation, access to the NFT world for everyone, problem-solving of the current trends’ flaws, and collaboration.

Unlike many other NFT launchpads, Spark seeks to reimagine the user interface and experience of platforms to serve the newcomers, and at the same time, provide more advanced users with the tools needed to excel in the latest features available in the space.

Help us solve these recurring problems, be part of a shift very few are aware of, and get rewarded for your efforts — Spark is here to rebuild mechanisms that serve the ones at the top.