Polymarket launching a token? What do you guys think the impact will be

[uchegod-21]

It could be advantageous for those using the platform, as they could use the cryptocurrency itself to make their predictions; the integration could be an added convenience.

Perhaps it will become another valuable asset in the market, or it may have no impact at all, who knows? Let's wait and see; there's no official information yet. At least not from the sources mentioned...

Well, this will depend on what polymarket wants to achieve; if they truly want to integrate their token into the gambling system to make gambling more convenient for their gamblers or they want to use the token as an avenue to make some money. We can't really tell what they intend to achieve until we see what they have to offer when they eventually launch it.

For me, I don't believe so much will change when they eventually launch their token. Gambling will still remain the same gambling we know, just a new token introduced.

[Eternad]

It could be advantageous for those using the platform, as they could use the cryptocurrency itself to make their predictions; the integration could be an added convenience.

Perhaps it will become another valuable asset in the market, or it may have no impact at all, who knows? Let's wait and see; there's no official information yet. At least not from the sources mentioned...

Well, this will depend on what polymarket wants to achieve; if they truly want to integrate their token into the gambling system to make gambling more convenient for their gamblers or they want to use the token as an avenue to make some money. We can't really tell what they intend to achieve until we see what they have to offer when they eventually launch it.

For me, I don't believe so much will change when they eventually launch their token. Gambling will still remain the same gambling we know, just a new token introduced.

Normally, A business introduced a token to get additional income from user that wants to invest on their product regardless what feature they are trying to emphasize on their tokens.

Probably, they want to capitalize their current popularity to gain massive profit from this token since it will boost their profit in case they will plan to launch it through airdrops.

A utility token on a prediction site like this will surely become a hit for investors.

[Mindyspace]

I know a little about them, but I'm not exactly sure how a token could help improve the project. From what I see, they already have a large betting and prediction site. Could they be doing this to further monetize the platform?

[coolcoinz]

As a bitcoiner I feel like shitcoiners polluting the space with millions of tokens isn't good. I'd rather see companies adopt existing coins, even the ones that aren't in top 10 of market cap, but at least are widely recognized as cryptos that do something and could eventually thrive in this ecosystem instead of launching new ones where half of them disappear in a year or two.

The market we're in right now might also not be the best moment to launch a coin. There's almost 0 retail interest at the moment. Don't think the coin is going to be big, at least not until the broad market recovers.

[Cryptomultiplier]

I think if the Polymarket decides to go ahead and launch their own token, it doesn't make it any different than other businesses who have done so. It only makes its customers and potential customers including the public know that it is serious about it being a decentralized predictions markets, thus paving way for businesses to look and arise as competitors.
It is a bold and mature step for the future of decentralized predictions markets space.

[mikel_012]

As a bitcoiner I feel like shitcoiners polluting the space with millions of tokens isn't good. I'd rather see companies adopt existing coins, even the ones that aren't in top 10 of market cap, but at least are widely recognized as cryptos that do something and could eventually thrive in this ecosystem instead of launching new ones where half of them disappear in a year or two.

The market we're in right now might also not be the best moment to launch a coin. There's almost 0 retail interest at the moment. Don't think the coin is going to be big, at least not until the broad market recovers.

They can't sell millions to the market if they use an existing coin. Many people buy shitcoins from teams and projects because they think a project can get hype and increase in price, this can't happen if you are just buying bitcoin and you can't control the price owning 90% of the coins with coins that already exist like ethereum or solana.

[criptoevangelista]

I think they might paint a huge target on the backs of the people responsible for Polymarket. Creating a currency is basically inviting the full fury of the state, which will try to regulate it and collect taxes. So I believe Polymarket should always stay somewhat underground, without big media attention, because the time will come when the state will start going after the site. And as we all know, everything the state touches eventually rots.

[mikel_012]

What is more convenient than using stablecoin that is worth $1? I don't think a token like this is any convenient because the price goes up and down a lot

Better to use the token to give buybacks to the community or a revenue share, then the token can have some worth like its some stock

Some people prefer to bet with other cryptocurrencies instead of using a stablecoin (which I also find more viable). What explains someone betting using Bitcoin, given that it's an asset that's more profitable to hold than to spend? I think it's just a matter of preference, and a coin from the platform itself might be a good option in those cases.

Because bitcoin is the number one decentralized coin. Many people don't like stablecoins because they are centralized and can be frozen, and also many users are bitcoin hodlers that have bitcoin as an investment for the future and want to play with gambling a little bit

But I see no reason to gamble with a coin that goes up and down a lot more and isn't as strong and time proven as bitcoin.

[Strongkored]

I’ve seen a lot of talk here about Polymarket lately, and while checking around I found out they’re actually planning to roll out their own token and basically enter deeper into the crypto side. I’m not going into the details of how they’ll do it, I just want to hear opinions from fellow gamblers here.

Do you think this will change anything for us users?


https://coinmarketcap.com/currencies/polymarket/
https://bitpinas.com/learn-how-to-guides/polymarket-airdrop/

I think it will be the same as other casino-based tokens, the hype at the beginning but slowly fades, they will try to raise their popularity again by providing incentives for players who hold or provide cashback or rakeback who play sports betting using their tokens, as a gambling site user don't expect much because their target is to get profit from their tokens not to give profit to their users.

[vanesha]

I’ve seen a lot of talk here about Polymarket lately, and while checking around I found out they’re actually planning to roll out their own token and basically enter deeper into the crypto side. I’m not going into the details of how they’ll do it, I just want to hear opinions from fellow gamblers here.

Do you think this will change anything for us users?


https://coinmarketcap.com/currencies/polymarket/
https://bitpinas.com/learn-how-to-guides/polymarket-airdrop/

I think it will be the same as other casino-based tokens, the hype at the beginning but slowly fades, they will try to raise their popularity again by providing incentives for players who hold or provide cashback or rakeback who play sports betting using their tokens, as a gambling site user don't expect much because their target is to get profit from their tokens not to give profit to their users.

I agree with you, because from what I see, the tokens launched by gambling platforms don't have much progress, only hype at the beginning and then it will fade, it is rare for casinos to change their tokens into something valuable that can create its own attraction, besides the market is going bearish so this is not the right time for a token launch

[Agbamoni]

I'm not being negative, but just like every other casino token, the Polymarket token will exist quietly in the dark. Nothing to show forth and nothing to benefit as a polymarket user.

I will only take advantage of the launch by buying a few tokens, then selling later for profit. That's why altcoins are made for. Buy, pump, and dump.

[uchegod-21]

It could be advantageous for those using the platform, as they could use the cryptocurrency itself to make their predictions; the integration could be an added convenience.

Perhaps it will become another valuable asset in the market, or it may have no impact at all, who knows? Let's wait and see; there's no official information yet. At least not from the sources mentioned...

Well, this will depend on what polymarket wants to achieve; if they truly want to integrate their token into the gambling system to make gambling more convenient for their gamblers or they want to use the token as an avenue to make some money. We can't really tell what they intend to achieve until we see what they have to offer when they eventually launch it.

For me, I don't believe so much will change when they eventually launch their token. Gambling will still remain the same gambling we know, just a new token introduced.

Normally, A business introduced a token to get additional income from user that wants to invest on their product regardless what feature they are trying to emphasize on their tokens.

Probably, they want to capitalize their current popularity to gain massive profit from this token since it will boost their profit in case they will plan to launch it through airdrops.

A utility token on a prediction site like this will surely become a hit for investors.

Certainly it is expected that the token will attract investors, hunters and speculators who will pump the coin early. A pure avenue for polymarket to take advantage of their popularity in this space. However for real gamblers, polymarket laughing their token won't change how the gamblers gamble. It won't help them make accurate predictions or give them other added advantages. Like I said earlier, I don't see anything changing for the gamblers.

[Text]

honestly I think the token launch is a big move but it really depends how they’ll use it if it’s just another token for hype no much impact for regular but if they tie it to actual utility like lower fees, rewards for active traders or better liquidity then it’s solid. It is already getting a lot of attention lately so launching a token could bring even more volume, good for the platform but we still have to see if it becomes good for us users for sure there are airdrop hunters and speculators again so expect some noise in the coming weeks. For now I’m just watching how they position it if it really adds value to the betting experience why not but if it’s just token first, utility later… you know the drill.

[Perfectbaby]

There wouldn't be any much changes in the crypto space and like I know how other platforms or gambling site has launched their coin. Usually, I am having this feelings that it would make waves as that of uniswap, that is how it would be massive and lot of people's would be greatly benefits from the airdrop especially to those who has been constantly using the site for predictions.

[Stablexcoin]

I think if the Polymarket decides to go ahead and launch their own token, it doesn't make it any different than other businesses who have done so. It only makes its customers and potential customers including the public know that it is serious about it being a decentralized predictions markets, thus paving way for businesses to look and arise as competitors.
It is a bold and mature step for the future of decentralized predictions markets space.

Having a token or coin does not make you are serious business owner; don't get that mentality stuck in your head. The decentralized prediction market has been going on in Polymarket. Even without the token, it will still function. I think the reason for the token launch is to attract more users and investors to their platform. They are pushing for more people to use their platform for prediction and, at the same time, gain some benefit. And for investors, too, they want investors to grow their business as a worldwide, acceptable decentralized prediction market.

[freedomgo]

There wouldn't be any much changes in the crypto space and like I know how other platforms or gambling site has launched their coin. Usually, I am having this feelings that it would make waves as that of uniswap, that is how it would be massive and lot of people's would be greatly benefits from the airdrop especially to those who has been constantly using the site for predictions.

But how about the long-term picture of the token? If people get an airdrop, they’ll dump it anyway, that’s normal. What matters more is the devs… as long as they don’t dump their own bags, there’s still a chance the value can grow. This is even better than other projects that are just “planning to launch” and begging for crowdfunding. This one is already operational and seems to be doing well since it’s pretty popular.

So IMO it might be worth trusting, but we still need to review everything carefully first.

[FinneysTrueVision]

They are one of the most successful crypto applications and a token has not really been necessary. Hinting at a possible airdrop is a way to boost their volume, but a lot of times it just brings low quality users who are just there to farm rewards, which they will then dump and leave to farm the next airdrop.

They could be trying to raise money, but as I mentioned, they are already very successful. I am sure the developers will get a large allocation and there will probably be a token sale. Without any clear utility this will look like another useless shitcoin whose only purpose is to make the founders very rich.