Meet the World Cup Coin That Pits 48 Country Coins Against Each Other
Summary
• WORLDCUP was built around a World Cup prediction market concept, combining a main token with 48 country tokens representing teams in the tournament.
• The project underwent a community takeover after the team accused the original developer of abandoning the project, mismanaging funds, and refusing to hand over infrastructure.
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WORLDCUP launched with a structure centered around a main token and 48 separate country tokens representing nations in the tournament. The idea was to create a prediction market style system where users could speculate on country performance, while fees generated by the country tokens were routed back into WORLDCUP through buybacks and burns.
On May 28, the project announced a community takeover. The team accused the original developer of abandoning the project, selling funds intended for marketing and growth, dumping his remaining holdings, and refusing to transfer full control of the project's accounts and infrastructure. The contributors who had been handling marketing and day to day operations said they would continue building the project themselves.
Following the takeover, supporters continued posting updates on their WORLDCUP positions. Joji, a team member and one of the token’s most recognizable holders, regularly shared updates from his “Worldcup folio,” while fellow team member Gas also shared his own folio.
On June 5, the WORLDCUP team announced its first bounty, offering 15 SOL to anyone who manages to get a WORLDCUP banner shown on live television during the World Cup opener between Mexico and South Africa.
The team recently also announced sponsorships for all three FANZONE UK venues in Esher, Epsom, and Vauxhall.
Well known trader Bolivian said he had doubled down on WORLDCUP and set a target of over $100M market cap for the project.
WORLDCUP launched on May 11 and reached an all time high of $12.3M market cap on May 21 before falling as low as $2.9M. Following the community takeover, the token recovered and recently climbed back above $10M market cap, with the FIFA World Cup still set to begin on June 11.
