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Chancer, a new project, launches its token presale on June 13.
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The project aims to use blockchain to disrupt the prediction markets.
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Users will be able to create their own blockchain-secured markets.
The sports betting industry is experiencing substantial global growth. Much of this expansion is driven by the United States, a country where online betting was once largely prohibited. Today, American betting companies such as FanDuel, DraftKings and BetMGM have grown into massive enterprises worth billions.
The blockchain industry has the potential to disrupt the sports betting market because of its global, permissionless nature. Several blockchain-based firms are already attempting to transform the sector. Examples include SportX and Gnosis. Chancer is a new entrant in this space that analysts say could be primed for disruption.
What is Chancer?
Chancer is a new platform designed to rethink sports betting by offering features not currently provided by established operators. The ecosystem will be secured via the Binance Smart Chain, a leading choice for dApp development.
A standout feature of Chancer is that users won’t be limited to placing bets on pre-established markets — they will also be able to create their own markets that other users can bet on. For example, a user could create a market for an upcoming game.
Beyond sports, users can create markets around current events. In an election year, for instance, a market could be set up for the likely winner or loser of a particular race. Although similar prediction markets exist today, many exclude certain events that Chancer users would be able to include and monetize.
According to the developers, the platform’s economy will be powered by the $CHANCER token, issued on Binance Smart Chain. In the future, the token is expected to carry governance rights, allowing holders to submit and vote on proposals.
Chancer will implement features such as smart contracts, open-source code, decentralized validator nodes and decentralized data storage. For a deeper technical overview, consult the project whitepaper.
Chancer’s upcoming token sale
As part of its product rollout, the team plans to launch a token sale soon. A token sale allows participants to contribute funds to the project in return for tokens, which they may sell after listing or hold long term. Historically, some investors have realized significant gains from participating in token presales.
Chancer intends to raise $15 million through a 12-stage presale. Token prices will increase incrementally across these stages. The Chancer presale is scheduled to begin on June 13 this year.
Chancer roadmap
The Chancer team has already completed several preparatory steps, including launching the website and conducting a Certik audit. Activities planned for Q2 include starting the presale, publishing the technical roadmap and announcing partnerships with centralized exchanges.
Planned Q3 milestones include launching a BETA version of the Chancer platform and initiating the validator node program. Q4 will focus on product development and testnet activity. In Q1 next year the project plans to integrate Filecoin and progressively remove centralized components from the ecosystem.
Will $CHANCER be a good investment?
It is too early to say whether Chancer will be a good investment. The token sale has not yet begun, and historically, presales and Initial Coin Offerings (ICOs) carry high risks as well as the potential for high rewards.
Prospective investors might consider allocating a modest portion of capital to Chancer, but — as with any crypto investment — they should do their own research and be aware of the risks involved.