The social gaming company MyPrize has formed a strategic alliance with Crypto.com | Derivatives North America (CDNA), which is a CFTC-registered exchange and clearinghouse, part of Crypto.com, to unveil MyPrize Markets. This launch is characterized as “a groundbreaking product” that provides users with access to a combined social gaming and prediction market experience on a single platform.
MyPrize Markets is introduced at a time when prediction markets are evolving from niche finance to a mainstream platform, with the aim of adapting this model for social gaming enthusiasts.
Integrated social gaming and prediction platform
MyPrize Markets facilitates user participation in markets spanning sports, politics, cryptocurrency, and more, all seamlessly integrated with MyPrize’s livestreaming and community features. The platform will be accessible online and via mobile devices through MyPrize.us and MyPrize.com, both in the United States and internationally.
MyPrize’s Founder and CEO, Zach Bruch, stated that the company is collaborating with Crypto.com to launch new prediction offerings related to sports, events, crypto, and additional themes for their “over 1 million” users. “Together, we’ll create fun and engaging experiences for players and significantly enhance the social engagement, livestream content, and community interaction on the MyPrize platform,” he mentioned.
Bruch noted that MyPrize chose Crypto.com after evaluating the infrastructure of various firms, asserting, “Our market exploration quickly revealed Crypto.com as having the superior infrastructure for institutional and enterprise-level operations”. “This partnership enables us to introduce this unmatched product offering to all MyPrize users and onboard our substantial transaction volume into the MyPrize Markets platform.”
Infrastructure and regulatory integration
CDNA’s infrastructure is designed to support the functionality of the prediction market, allowing MyPrize to maintain control over the user interface and experience. Crypto.com stated that this collaboration bridges financial market infrastructure with interactive social platforms.
“We are witnessing a significant shift in the integration of financial markets with other product offerings,” commented Travis McGhee, Managing Director and Global Head of Capital Markets at Crypto.com. “We have been leading the convergence of crypto with traditional finance. Now, we are pioneering a similar merge with interactive social platforms and financial markets alongside MyPrize.”
McGhee emphasized that this partnership will enable MyPrize to be “the first comprehensive application providing users access to markets, gaming, livestreams, and social interaction all within one interface.”
Founded in 2016, Crypto.com serves a global user base and is dedicated to promoting cryptocurrency adoption. Its affiliate, CDNA, is registered with the CFTC as both a designated contract market and a derivatives clearing organization.
MyPrize portrays itself as a free-to-play social gaming and “social markets” platform that offers multiplayer experiences alongside creators, streamers, and friends. The company holds SOC 2 Type 1 certification, adhering to institutional-grade security protocols.