Trading platform Veil has recently announced that they have acquired Texas-based Predictions.Global. Even though the purchase had been done a couple of months back, it was officially announced today.
What Is Veil?
Veil is a peer-to-peer prediction market and derivatives platform built on top of Augur, 0x, and Ethereum. It is designed to bring Augur mainstream. All markets listed on Veil are represented as Augur markets on Ethereum, and we've augmented the Augur experience in two meaningful ways.
Veil was founded in the Fall of 2018 by Paul Fletcher-Hill, Feridun Mert Celebi, and Graham Kaemmer. The company is backed by Paradigm, Sequoia Capital, and 1confirmation.
Nick Tomaino of 1confirmation thinks that the potential of Augur is unparalleled. He had earlier said:
“Similar to the way that Coinbase aggregated a lot of the talent and mindshare necessary to bring the nascent bitcoin protocol to more users back in 2013, Veil is doing the same around the nascent Augur protocol in 2019.”
Notably, Veil launched their Augur-based trading platform which offers a better interface eliminating the requirement to download the Augur app and sync it to Ethereum’s network.
What Does Veil Expect Out Of The Acquisition?
Predictions.Global has their profile and brand more established than that of Veil. In their pursuit to become the easiest way to discover Augur markets, they want to keep the site up for now. However, they are going to add links that lead to Veil.
Ryan Berckmans, one of the co-founders of Predictions.Global will be joining Veil in an advisory capacity to help with product development, especially future social features. The company believes that there will be a surge of new social experiences enabled by open markets; everything from websites reacting to which market positions you hold to reputation systems for curating alike markets.