We created CelebrityFutures as a means of betting for or against high-profile individuals' future growth potential. The project was inspired by a desire to monetize curation knowledge, and as it stands today we have not seen a way to open these avenues up to a global audience in a permissionless fashion. With CelebrityFutures, users can trade tokens which are tied to underlying reference indexes like Spotify Popularity Scores which gauge an artist's popularity on the platform. This allows fans to go long or short on a given act, and earn a tangible return if they bet correctly. The larger goal is to open up CelebrityFutures beyond musicians using social platforms like Twitter, Instagram and TikTok, however we felt that artists were a great target market as it's more difficult to game Spotify's Popularity score than it is to buy followers on Twitter and Instagram. To start, we created the first synthetic token - $TRAVIS. In the future, we plan to open the market creation aspect to allowing anyone to start their own market on an artist (or high profile individual) of their choice.
How It's Made
Celebrity Futures consists of the following components: - Spotify Popularity Scores - "The popularity of the artist. The value will be between 0 and 100, with 100 being the most popular. The artist’s popularity is calculated from the popularity of all the artist’s tracks." https://developer.spotify.com/documentation/web-api/reference/artists/get-artist/ - ChainLink Adapter - Used to route the Popularity Score onchain. https://github.com/thodges-gh/spotify-adapter - UMA Synthetic Assets - Used to reference the Popularity Score as the underlying index for our synthetic assets created with UMA's ExpiringMultiParty contract. https://docs.umaproject.org/uma/synthetic_tokens/explainer.html