Tuesday, May 21, 2024

    Users can now start staking BOLT blockchained tokens on upcoming Premier League matches  

    BOLT, a blockchain-based media service, has announced the launch of ‘Stake’ – a new gamification feature in its BOLT+ app that will allow users to win $BOLT tokens by correctly answering questions and predicting the outcome of football games.

    BOLT+ is an interactive and data consumption-friendly web and mobile media platform where users can stream curated sports content as well as listen to and watch live radio and television channels.

    The new “Stake” gamification feature will allow BOLT+ users to actively engage with the content that they are watching by literally having a Stake in the game. Users would need to correctly predict the outcome of featured Premier League football matches and answer a post-match question to win.

    This feature is the latest utility case for the BOLT token and would connect “BOLT+” to “Pegasus”, BOLT’s crypto wallet to store BOLT tokens (BOLT’s proprietary cryptocurrency). This is the company’s first step towards encouraging massive user adoption of the token via entertainment and gamification, as they work towards creating an ecosystem that rewards users with BOLT Tokens for consuming and interacting with content on their platform.

    Launching in conjunction with the hotly-anticipated English Premier League clash between bitter rivals Liverpool and Manchester United on the 19th January, users can stand to win BOLT tokens by placing their sporting knowledge and gut instinct to the ultimate test.

    To Stake, users will need to have downloaded the latest versions of the BOLT+ and Pegasus mobile apps, available on iOS and Android. Pegasus allows users to store, send and receive BOLT tokens and Binance Coins, and will eventually be converted into a gateway where users can redeem partner-affiliated rewards and more. To participate, users would need to Stake a minimum of 5 $BOLTs (real-time equivalent of US$0.03) and a maximum of 100,000 $BOLTs (US$700.00) per game, predict the correct outcome and finally correctly answer a post-match question related to the game. As Pegasus is built on the Binance chain, a transaction fee of 0.000375 BNB would also apply per Stake.

    Before a match begins, users will be alerted if Stake is available, and all the $BOLTs staked would go into a prize pool. Users who correctly predict the outcome of the match and correctly answer the post-match question will win tokens from the prize pool, distributed amongst the winners proportionate to their Staked amount. If the question was not correctly answered, the user will receive the initial Staked amount back (excluding the transaction fee). If the user did not guess the match outcome correctly, the user’s Staked tokens will be forfeited.

    As part of the increasing focus on encouraging mass user adoption, BOLT will also be launching another game ‘Lightning Round’ in early February. Lightning Round is a fast-paced and interactive live quiz which will reward users if they answer a series of sports-related questions correctly within a given time limit. The Lightning Round will be a weekly affair alternating between a football and cricket theme. Users can stand to win prizes including BOLT tokens, fiat currency, mobile data packs and sponsor merchandise.

    Speaking on the launch of Stake and Lightning Round, BOLT’s Founder and Chief Executive Officer Jamal Hassim said, “We are extremely excited to announce the launch of Stake and the Lighting Round, two fully immersive and interactive in-app features. We want to build an attractive and thriving ecosystem that is user-centred. Stake and Lightning Round are examples of our commitment to a more engaging and rewarding user experience, as the BOLT tokens earned could later be used to redeem rewards, sponsor merchandise, converted to FIAT, and more. Ultimately, we aim to be an uplifting platform that opens up the power of information to all.”

    Stake will be available weekly, with the following schedule, with more to come:

    • 19th January – Liverpool vs Manchester United
    • 21st January – Chelsea vs Arsenal
    • 1st February – Tottenham Hotspur vs Manchester City
    • 9th February –  Man City v West Ham
    • 17th February –  Chelsea v Manchester United
    • 22nd February – Chelsea vs Tottenham Hotspur
    • 29th February – Manchester City vs Arsenal
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