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 ($BOLT) by correctly answering questions and predicting the outcome of football games.
BOLT+ is an interactive web and mobile media platform where users can stream curated sports content, and listen to and watch live radio and television channels. Overt the past year, it has covered events including the 2019 Rugby World Cup, ICC Cricket World Cup, and 3D highlights of English Premier League and European football.
The Stake gamification feature will allow BOLT+ users to actively engage with the content that they are watching by having a Stake in the game. Users need to correctly predict the outcome of featured Premier League football matches and answer a post-match question to win BOLT tokens (BOLT’s proprietary cryptocurrency), stored in BOLT’s crypto wallet, Pegasus.
This is the company's first step towards encouraging massive user adoption of the token via entertainment and gamification, as it works towards creating an ecosystem that rewards users with BOLT Tokens for consuming and interacting with content on their platform. Stake was launched in conjunction with yesterday’s English Premier League clash between bitter rivals Liverpool and Manchester United. It will also run during the Chelsea vs Arsenal match on 21 January, and during another five matches in February.
To Stake, users will need to have downloaded the latest versions of the BOLT+ and Pegasus mobile apps, available on iOS and Android. Pegasus enables 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 need to Stake a minimum of 5 $BOLTs (which equates to 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 (Binance Coins) applies per Stake.
Before a match begins, users will be alerted if Stake is available, and all the $BOLTs staked 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 called Lightning Round in early February. This will be 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 run weekly, alternating between a football and cricket theme. Users will be able to win prizes including BOLT tokens, fiat currency, mobile data packs and sponsor merchandise.
“We are extremely excited to announce the launch of Stake and the Lighting Round, two fully immersive and interactive in-app features,” said BOLT founder and CEO, Jamal Hassim. "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.”