Truemarkets (TRUE), a decentralized prediction market platform built on the Base Layer 2 blockchain, has officially launched, marking a significant step in bringing real-world events into the on-chain ecosystem.
The long-anticipated debut follows the platform’s successful public Oracle Patron NFT sale in November 2024, which raised over $4 million. Notably, Ethereum co-founder Vitalik Buterin participated in the sale, minting 400 NFTs.
Like Polymarket, Truemarkets aggregates real-time headlines from various sectors, including politics and pop culture, enabling users to trade on the outcomes of these events. The platform offers a marketplace where participants buy and sell “YES” and “NO” tokens for different forecasting scenarios. For example, traders can speculate whether Solana (SOL) exchange-traded funds (ETFs) will gain approval by the end of 2025.
Token prices fluctuate based on market sentiment, with traders and liquidity providers influencing value through continuous buying and selling. Once an event concludes, tokens representing the correct outcome can be redeemed for $1 each, while those tied to incorrect predictions lose their value.
The Truemarkets NFT sale generated $4.03 million by selling 15,071 Oracle Patron NFTs for 0.08 ETH each. Buterin’s purchase alone accounted for 32 ETH. Truemarkets will allocate 40.03% of its total 100 million TRUE token supply to Patron NFT holders through an upcoming airdrop as part of its tokenomics strategy.
However, TRUE will strictly serve as a governance token, granting holders voting rights rather than any financial utility.
The launch of Truemarkets coincided with a broader rebound in the NFT market. A DappRadar report revealed that NFT trading volume surged by over 20% in November 2024, reaching $698 million—a 22% increase from the previous month. According to DappRadar analyst Sara Gherghelas, the resurgence was driven by heightened engagement with blue-chip collections, such as those from Yuga Labs, rising token prices, increased liquidity, and growing investor confidence.
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