Polkamarkets Labs Partners with Observador to Introduce Social Predictions for Portuguese Legislative Elections.
Polkamarkets Labs is thrilled to announce an unprecedented collaboration with Observador, a leading media organisation in Portugal.
This partnership marks an exciting milestone as Observador pioneers the integration of prediction markets into the Portuguese political and media landscape, setting the stage for an immersive and rewarding experience for politics enthusiasts and all citizens across the country,
Introducing “Previsómetro Observador”
Previsómetro Observador transcends the conventional approach to political predictions by offering an engaging and easy-to-use platform for any Portuguese citizen to participate in unveiling the future of Portuguese politics.
This initiative isn’t just a predictions game; it’s an interactive experience with exciting prizes for the most astute participants. From gift cards to weekend getaways to exclusive subscriptions, the rewards for the top predictors are nothing short of thrilling. The anticipation of winning real-life prizes adds an extra layer of excitement to the forecasting experience.
Observador’s Previsómetro, is designed to be an inclusive experience for all. Whether you’re a seasoned political analyst or a casual observer, the platform welcomes everyone to make their predictions and stand a chance to win exciting rewards. It’s a seamless and user-friendly interface, ensuring that political engagement is accessible to all.
Previsómetro can also contribute to Observador’s audience strategy, having registered more than 120,000 hits in a few hours after launch.
“Observador is constantly looking for new ways to interact with its subscribers, readers and listeners. For the 2022 legislative elections, we launched Votómetro, which generated more than 1.5 million sessions and established itself as a national reference tool for helping people choose their vote. In 2024 we launched Previsómetro, a game based on the foundation of prediction markets. Built on Polkamarkets Labs’ unique solution, we believe that our readers will find Previsómetro a platform for discussion and reflection in this important moment of decision-making for the country.”
Leo Xavier, Observador’s Chief Technology Office.
Cutting-Edge Web 3 Technology
Previsómetro Observador is a ground-breaking initiative on many levels. Not only is it the first time that a major Media Organization creates a prediction market to engage with its national audience around a major election, it also seamlessly integrates with blockchain technology to ensure fairness and transparency in the way that predictions made by users are handled.
· Blockchain security: Every prediction is recorded on the blockchain, ensuring transparency, security, tamper-proof accuracy and data portability.
· Play-money mechanism: The VOZ token, the native currency of the platform, facilitates predictions and serves as a reward system, while having no monetary value. Its blockchain foundation guarantees a secure and reliable in-game currency.
· Gasless transactions and seamless authentication: The platform employs so-called gasless transactions and allows users to forecast with their Observador account, completely abstracting away blockchain usage, making it a hassle-free experience while enabling the use of blockchain security.
Powered by Polkamarkets
Observador’s Previsómetro is powered by the advanced Polkamarkets Protocol, offering a unique blend of play money-based prediction markets with customization options for seamless integration with Observador’s strategy and audience.
It uses a custom implementation of the open-source Polkamarkets Web App. The Questions and Predictions are possible thanks to Polkamarkets Protocol V3, which allows Observador to set their own administration rules for Question creation, liquidity provisioning, resolution, as well as the creation and management of the VOZ token, a non-transferable ERC-20 token which can only be used with Previsómetro.
To access the functionality of white-label implementations in Polkamarkets V3, Observador acquired and locked 100,000 POLK tokens to create Previsómetro.
Alex Solleiro, CEO of Polkamarkets Labs, said:
“Partnering with Observador for Previsómetro is incredibly exciting. This partnership is a testament to our product’s ability to create value for major organisations and shows that prediction markets enable any individual to be rewarded for helping society foresee the future. We couldn’t have wished for a better way to kick off 2024, which for us is the year of Social Predictions.”
Running on Gnosis Chain
Previsómetro Observador runs on Polkamarkets Protocol V3 on Gnosis Chain to ensure a good user experience and data resiliency. Gnosis Chain is generously sponsoring the gasless transactions for this project.
Gnosis Chain is an EVM compatible, community-owned network that prioritizes credible neutrality and resiliency, open to everyone without privilege or prejudice.
Shaping the Future of Political Engagement
Previsómetro goes beyond predictions: it’s a transformative tool for Observador to connect deeply with its audience and gather predictive insights about the future of Portuguese politics. The platform empowers users to play an active role in shaping the political narrative and winning real rewards for their accuracy.
About
Polkamarkets Labs
Polkamarkets Labs envisions a world where every individual and organization can access better information about the future to make better decisions. Our mission is to build the best prediction markets products to reward individuals who produce correct predictions and enable society to harness the insights they generate.
Polkamarkets Labs can help any organization tap into the future through prediction markets by creating gamified, engaging and rewarding experiences for their audience and community. Our products are used by organizations of all sizes in different industries, from fashion and media to sports and entertainment.
The company is the original developer of the Polkamarkets Protocol, a blockchain-based predictions market technology that ensures fairness and data portability for users.
Talk to Polkamarkets Labs today and learn more.
Observador
Observador is a Portuguese digital newspaper known for its independent editorial approach and comprehensive coverage of news, politics, economics, culture, and sports.
Established in 2014, Observador has gained recognition for its high-quality independent journalism, featuring in-depth reports and critical analyses, as well as providing a diverse platform for opinions.
With a prominent online presence, and since 2018 with Radio as well, Observador has become a significant source of information for the Portuguese audience and one of the leaders in subscriptions.
