Prediction Markets Platform Guesser Receives $1.1 Million In Funding to Compete with Veil and Flux
The prediction markets platform Guesser announced that it has received $1.1 million in seed round funding. The firm is a close competitor to Veil and Flux.
The information was released by the company during a conversation with The Block.
Guesser Raises $1.1 Million
Guesser is a prediction markets platform that aims at making prediction markets globally relevant. In order to do so, they will not have any fees, which would allow them to increase and boost volumes.
According to the CEO of the platform, Jose Garay, they see between hundreds of dollars and tens of thousands of dollars wagered on its Bet of the Week. Users are able to predict and guess what would happen with different things, including public events.
At the moment, Guesser is working in order to offer four weekly bets related to different categories, including virtual currencies, finance, politics and also general news. Garay explained that they want to keep the number of markets very small rather than listing hundreds of illiquid markets. This would allow them to create a broad audience and maximize liquidity and simplicity.
At the moment, users come from the crypto market but the intention is to attract a larger number of individuals from other industries and fields that would participate in these prediction markets.
One of the most popular prediction market platforms is Augur (REP). REP is the 32nd largest digital asset in the market and it has a market capitalization of $229 million. Each REP can be purchased for $20.89.