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Pred Secures $2.5 Million Funding to Expand Sports Prediction Exchange on Base

Seed round led by Accel, with Coinbase Ventures’ Base Ecosystem Fund backing, supports Pred’s invite-only sports prediction platform built for rapid execution on Base blockchain.

Summary

Sports prediction trading platform Pred announced it has raised $2.5 million in a seed funding round led by Accel, with participation from Coinbase Ventures’ Base Ecosystem Fund and Reverie. The platform, built on Coinbase’s Base blockchain, touts execution speeds of 200 milliseconds and is currently in invite-only internal testing. The funding will be used to expand the platform’s capabilities and enhance scalability ahead of broader public launch.

Terms & Concepts
  • Base: A blockchain network built by Coinbase to enable low-cost and scalable decentralized applications.
  • Seed funding: Early-stage capital raised by a startup to develop its product and business operations before generating revenue.
  • Sports prediction trading platform: A digital marketplace where users trade positions on the outcome of sporting events, often using peer-to-peer models.