28.08.2024

Gleb Specter

12 min

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Since its inception, the crypto community has been on a relentless quest to find impactful use cases—a natural pursuit for any groundbreaking technology with limited real-world exposure.

From stablecoins and emerging RWA (real-world asset) tokenization to DID (decentralized ID) protocols, web3 entrepreneurs have pushed the boundaries of crypto into traditional industries through innovation and perseverance.

In 2024, several fresh narratives are popping up, poised to further cement crypto’s demand and growth by driving gamified and opportunity-seeking activities for both crypto-natives and everyday internet users: gambling, prediction markets, and the TON ecosystem.

At Cryptorsy, we recently hosted an energetic panel discussion with our partners building within these narratives. In this article, we’ll break down why on-chain gambling, prediction markets, and the TON blockchain could become cornerstones of crypto’s expansion to hundreds of millions of new users, using the innovative products developed by our partners.

How many times has your nosy bank denied your transaction and called to check on you when you were just trying to buy some Solana on Binance, huh?

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Let’s dive in and explore the power behind these up-and-coming crypto use cases.

In the August 21 Cryptorsy panel, the Betski founder and CEO Alejandro Navarro revealed how the platform intends to cleverly bridge traditional bettors to the blockchain.

When users deposit funds with a credit card, they’re given not just the option to use crypto but also the chance to hold $BETSKI tokens. This opens up revenue sharing and allows them to become true stakeholders, essentially becoming 'the house' themselves.

Investment firms like Pantera Capital see Telegram as the only major platform capable of incorporating Web3 for an open blockchain network without facing significant regulatory hurdles.

Prediction markets, such as those created by Polymarket on the Polygon blockchain and the recently launched one by Drift Protocol on Solana, have surged in popularity, particularly in political and financial speculation spheres.

Polymarket, in particular, has become a leading player in this space. The platform has experienced explosive growth, with the number of accounts increasing by 50,000 per month and a TVL (total value locked) around $100 million.

The online gambling landscape, including casinos, lotteries, and betting platforms, is increasingly recognizing the superiority of on-chain operations. These platforms are leveraging crypto assets to offer faster, more cost-effective, more transparent, and less regulatory-burdened (as of today) payment methods.

All you need to do is add some $USDT to your personal crypto wallet and use it to log in. That’s it most of the time.

It’s a hassle-free experience bettors aren’t going to downgrade from once they’re on board. The ease of blockchain transactions allows GambleFi platforms to bypass traditional banking systems, enabling borderless payments that transcend national restrictions. This availability broadens the global participation and contributes to liquidity for online casinos and betting tools.

With crypto’s nearly instant transaction settlements, cash flow improves, allowing users to access their funds quickly, whether for withdrawals or continued play.

Additionally, the blockchain’s immutability eliminates the risk of chargebacks, a significant financial drain for casinos using credit cards.

Cost savings are another critical benefit. Traditional payment methods come with processing fees—credit cards alone can charge between 1-3% per transaction, plus extra fees for chargebacks. In contrast, on-chain transactions typically involve minuscule fees, potentially saving casinos millions annually and certainly pleasing players. These savings can then be passed on to players through better exchange rates, promos, benefits, or even tastier—revenue sharing and even community stockholding.

Beyond the financial benefits, crypto's amped up security is a major draw. It enables a higher level of security compared to centralized databases of legacy platforms that are prone to hacking.

The transparency of blockchain, which makes transactions more traceable and auditable, provides a massive boost for an industry historically plagued by rigging and peace of mind to both casinos and players.

With vision for the project launched in 2022 by Sports Alpha Club community, Betski is rising as a forward-thinking platform in the online betting space, blending traditional and on-chain experiences.

Betski aims to present a diverse range of betting options, from classic casino games to e-sports and global lotteries.

The platform is building in support for both traditional payment methods and crypto.

Plus, Betski will use AI to display data-driven insights, helping users make informed wagers.

Source: Betski Website.

The Betski team is focused on delivering a next-level user experience, going mainstream by decisively converting conventional players with quality-of-life features like real-time sports updates, Autobet, and personalized bet suggestions.

The product will also include chat functionality to foster community interaction, while options such as Odds Booster and Multibet Bonuses can help amplify potential returns.

Source: Betski Whitepaper.

Though still in its early stages, Betski’s integration of both blockchain and AI, as well as user-centric design positions it as a platform to watch in the quickly growing narrative of crypto-powered betting.

The rise of on-chain prediction markets is ushering in another essential crypto use case.

These platforms allow users to speculate on real-world outcomes with unparalleled transparency and security, effectively addressing trust issues that often plague conventional prediction systems too.

Source: Polymarket X Account.

Source: Dune Analytics Polymarket Dashboard.

One of Polymarket’s most recent milestones includes reaching a trading volume of $390.6 million this August, with the 2024 U.S. presidential election-driven markets accounting for the lion's share of this activity.

Yet, even non-election markets on the platform are seeing substantial growth, driven by a diverse range of events from sports to financial outcomes.

Source: @harshtodi97’s Dune Analytics Dashboard.

These sky-bound numbers represent a broader trend toward using the collective wisdom of crowds to gain insights into public sentiment and real-time events. Unlike traditional polls, which can be slow and prone to bias, prediction markets deliver a dynamic and immediate pricing of outcomes, offering a fresh perspective on unfolding news.

The success of platforms like Polymarket highlights the potential of prediction markets as social epistemic (relating to knowledge or to the degree of its validation) tools. As Ethereum co-founder Vitalik Buterin noted, these markets can provide insights that are less influenced by editorial biases, making them valuable in areas like political forecasting, financial speculation, and even public health.

As on-chain prediction markets continue to grow, they are set to play an increasingly important role in public discourse and decision-making processes.

Billions Quest is a gamified prediction market platform on Polygon where users have a chance at creating NFT portfolios representing real publicly traded companies to compete in daily battles. The game blends stock market dynamics with blockchain technology, resulting a unique mix of financial strategy and digital asset management.

Players can engage in Health Battles, where they win by selecting NFTs of companies with the highest stock price increases, or Blood Battles, where they benefit from choosing those with the steepest declines.

The platform rewards players based on their performance, with top portfolios earning the largest share of stablecoin prizes.

Source: Billions Quest Docs.

What’s more, users can rent out their NFTs for passive income.

Billions Quest prioritizes transparency, recording all outcomes on the blockchain, and even allows players to create custom contests for more community fun.

Lastly, the TON ecosystem, closely integrated with Telegram’s nearly one-billion-user base, is rapidly shaping up as THE leading force in the ongoing on-chain takeover. Despite a recent challenge of the outrage-sparking arrest of the Telegram founder Pavel Durov by French authorities, $TON is sure to continue thriving, enabling everyday users to interact with crypto products seamlessly—often without even realizing it.

Throughout 2024, TON has defied broader market trends, experiencing a staggering 1,400% increase in TVL, briefly surpassing $1 billion. This remarkable growth has propelled TON into the TOP10 cryptocurrencies by market capitalization.

Central to this success is TON’s direct integration with the social networking powerhouse Telegram and its mini-apps—lightweight web applications built with common web technologies and embedded within the messenger, allowing users to launch and interact with them without the need for separate installations.

The founders’ ambitious vision is to transform Telegram into inclusive web3 ‘super-app,’ integrating social media, gaming, and financial services within its environment.

Mini-apps like T2E (tap-to-earn) games such as Blum and MemeFi Coin have already attracted millions of users, significantly contributing to TON’s average-Joe-onboarding crusade.

Moreover, a partnership with Tether, announced in April, has boosted the usage and awareness of $USDT on the platform.

TON Capital is strategically positioned within the rapidly expanding TON x Telegram ecosystem to supply users with a range of opportunities, including exclusive airdrops and strategic investments.

The platform is committed to supporting early-stage TON projects through its initiatives like a launchpad, incubator, and venture fund, helping tech founders embrace web3 and contribute to their success now that it’s within reach like never before.

Source: TON Capital Whitepaper.

A key feature of TON Capital is its streamlined airdrop experience, where users can invest in so-called Node Licenses to receive passive rewards in the form of tokens from various TON projects.

The platform also contains a staking module that provides additional rewards. The team emphasizes that the module is developed with mechanisms to preserve fairness.

Source: TON Capital Whitepaper.

While TON Capital benefits from the broader expansion of the TON network, it maintains a focus on community-driven participation and transparent rewards.

With its strategic positioning and the team’s work to ensure diverse offerings, TON Capital is coming forth as an important contributor to the TON network.

In 2024, crypto is finding its stride with use cases that resonate beyond just crypto enthusiasts, reaching everyday social media users. Blockchain is excelling in areas like gambling, betting, and prediction markets, offering smoother, faster, and more cost-effective experiences that stand out from traditional systems. These platforms are proving that crypto isn't just viable; it's often the better choice.

Moreover, the TON blockchain’s seamless integration with Telegram is introducing Web3 to users without them even realizing it. This effortless onboarding process is setting the stage for broader adoption, with Telegram positioned to become a major gateway for new users into the crypto world.

At Cryptorsy, we stay ahead of on-chain developments that are shaping the digital landscape. Leverage our years of experience in this ever-evolving industry for a solution that fully capitalizes on trending narratives, with full guidance from our web3 marketing studio and growth ecosystem every step of the way.