Transitioning from Basic Streams to Advanced Betting Mechanisms – Explore How Soulbound Is Innovating Our Gaming Content Experience

The rapid expansion of prediction markets, especially in the gaming sector, has opened up intriguing possibilities for forward-thinking streaming services. In this discussion, Casey Grooms , co-founder of Soulbound addresses how his platform is modernizing game streaming by fusing traditional content production with prediction markets. Casey reveals how Soulbound is designed to amplify viewer interest, generate new financial opportunities for streamers, and link players from both Web2 and Web3 realms.

With the recent surge in prediction market activity, what do you believe has driven this trend, and what developments should we anticipate in the upcoming months?

Political influences are certainly a driving force behind the current boom in prediction markets. In addition, there have been several pivotal developments in the landscape. Recently, U.S. courts affirmed the legalization of prediction markets, and a company named Carsey has emerged as the sole entity with official permission to operate legally in the U.S. This approval has significantly fueled the momentum.

Factors like the Trump-Harris presidential race and the increasing acceptance and regulation surrounding prediction markets are propelling this growth. As restrictions ease, we can expect a wave of new competitors to join the market, resulting in a gradual legalization on a state-by-state basis. Users will soon be able to leverage their predictions as this trend continues.

Do you anticipate any obstacles or any disturbances in the prediction market sector in the near future?

Any interruptions would primarily arise from legal challenges. Beyond that, I foresee continued growth and a broader acceptance of prediction markets. They are increasingly featured in reputable media outlets, such as the Wall Street Journal and New York Times, which regularly mention Polymarket and other similar platforms.

A growing number of mainstream audiences, including those who may not typically engage with Web3 concepts, are beginning to understand the mechanics of prediction markets and their potential influence on public sentiment. Many are observing prediction markets during the U.S. elections as a gauge for potential outcomes while also exploring the risks of external influences.

As a streaming platform, how do you integrate prediction markets into your services?

Any user has the ability to stream any game, enabling me to establish prediction markets around those streams. Our focus leans towards in-stream prediction markets, such as guesses about the outcome of specific matches within esports competitions. Streamers benefit from this, as they receive a share of the betting pool, allowing them to earn revenue simply by playing and creating captivating content.

What initiatives do you plan to implement to ensure your platform avoids becoming a replication of OnlyFans?

Maintaining a gaming-centric environment similar to Twitch is quite feasible for us. All our collaborators are game developers, steering clear of creators from the OnlyFans sphere. In the unlikely event of inappropriate content, we can quickly take action to block or ban it. We could even establish a paywall, requiring users to purchase an NFT to join certain chats. However, with our primarily gamer-focused audience, there's minimal risk of attracting that kind of content.

What incentives do you envision introducing in the future for streamers and their audiences?

We are gearing up to enhance viewer interaction with new features. Next week, we're launching a channel page akin to Twitch, where users can engage in real-time chats with streamers. The introduction of prediction features and a forthcoming 'Dare' feature will also drive higher engagement levels.

We plan to organize contests and pivot further towards esports, allowing users to place bets on teams during live streams. Furthermore, we aim to create a straightforward process for game developers to sponsor streamers directly, enabling instant financial support for placing logos or ads during broadcasts. This would cultivate more engagement and revenue prospects for the streamers.

What is the current landscape of Web3 gaming? How engaged are developers and players in streaming these games?

At this point, we make a clear distinction between Web2 and Web3 gaming. However, our streamers are free to broadcast any game, regardless of its underlying platform. Currently, our financial backing is primarily coming from Web3 games looking to boost their player engagement. Games like Shrapnel and Off the Grid are investing significantly in Twitch marketing campaigns to attract more streamers and garner interest.

This approach is shaping our business model moving forward. If Web2 games wish to draw in users via Soulbound, they can easily compensate streamers for showcasing their games, which is a central focus of our strategy. The distinction between Web2 and Web3 is inconsequential to us – we are primarily committed to delivering engaging content and enriching the viewer experience.

Is gaming streaming as widely embraced today as it was a decade ago?

In fact, gaming streaming is witnessing an upward trend in popularity. If you examine the streaming metrics, you will notice a consistent rise in both streamed hours and viewer hours. Notably, Ninja continues to stream, primarily on YouTube, following the Twitch controversy. Twitch reportedly saw around 51 million unique viewers this September.

It's evolving into a worldwide phenomenon, with a notable increase in streamers emerging from Spanish-speaking nations. This industry is no longer confined to the U.S. and Europe—it is expanding significantly on a global scale. Additionally, the rise of VTubers is evident, where streamers utilize anime-inspired digital avatars for their broadcasts rather than showing their actual faces.

How do you envision AI impacting prediction markets and live streaming in the future?

The future looks increasingly intriguing, but it’s challenging to pinpoint exactly how it will unfold. VTubing is still fresh on the scene, but it’s achieving remarkable traction this year. Looking ahead, we might see VTubers launching their own NFT collections that reflect their unique personalities.

These NFT characteristics could grant users exclusive abilities or enhancements within the platform, thereby adding genuine monetary value. Whether AI plays a direct role in crafting these features or simply serves as foundational technology is still uncertain. Currently, our platform isn't heavily focused on AI, but we remain open to exploring its potential to elevate the experience for both streamers and their audiences in the future.