(MENAFN- GlobeNewsWire - Nasdaq)
SINGAPORE CITY, SINGAPORE, Aug. 05, 2022 (GLOBE NEWSWIRE) --
When ROLA began to develop their Web3 project, the first thing the team wanted to address was to create a platform that was not only community-driven but also“community-centric”. The result of their efforts will soon go live as the ROLA.ai app, the first-of-its-kind community of crypto lovers who can earn rewards for making market predictions.
Says Rosalind Lee, the Chief Product Officer of ROLA:“ROLA aims to build a rewarding community that is truly“WAGMI”. We are in it together, and we all improve together.”
Rosalind Lee, Chief Product Officer of ROLA
ROLA - which stands for Reiterative Open Learning Algorithm – is built around a marvellous AI designed to update users, absorb their signals and reward them in turn. This is also the first AI-based crypto community platform that aims to build a robust social ecosystem that includes all Metaverse features, like Game-Fi and NFTs, that will connect and empower the community. The app thus transcends the conventional metrics of being limited to profit and strives instead for social connectivity – here crypto traders, investors and fans can gather and form channels to discuss, share and learn.
ROLA comprises many different features under the hood. Its major attraction is the Predict2Earn algo that distributes native $ROLA tokens to users who make accurate predictions for Bitcoin and Ethereum, and NFT rewards for predictions made for other tokens. Once earned, the $ROLA tokens can be used to buy NFTs and participate in staking games which will begin soon this year.
On the technical side, there are two layers to the Meta AI engine - the first one, the base layer, updates and improves itself continually in making better and better predictions, and the second layer is the one that listens to the user generated signals and predictions and translates them into insights for the base layer. In this feedback loop, the AI algo continues to evolve and gain in strength, offering better insights to the community.
How does the Predict2Earn feature actually work? The ROLA app sends out AI-based signals for up to 120 crypto trading pairs (more pairs to be added in future). The real-time feed on crypto pairs keeps the ROLA community updated. The market is divided into 8-hour sessions, and users vote on whether the session will end on a green or red candle! Rewards are calculated based on participation metrics and number of users. All users receive Rolagram NFTs in addition.
“By using the reiterative learning algorithm and Web 3.0, our AI evolves with the“Rolarian” community's collective wisdom,” says Rosalind.
The ROLA community members go beyond profits, and can enjoy and challenge other“Rolarians”, the entire ROLA family, in meme wars and other games. Sounds fun? There is more to that. The social-fi media app allows users to browse popular crypto trends. ROLA will introduce a subscription-based service through which community members can also get in-depth information from seasoned cryptocurrency analysts and traders. Users can also create public discussion boards. For e.g., if there is a major market spike or dip in BTC or Ether, specific channels can be created for sharing views and insights with other users.
Only recently, ROLA has announced its first NFT collection titled ROLAGRAM. Each asset from this collection can be minted by users every month. Each new asset will be based on the users' previous activities from the last month, such as their comments and voting history. This means that every NFT will be as unique as the user who receives them.
Another exciting community feature is the ROLAVERSE. This is a social ecosystem with all Metaverse features (Game-Fi, NFTs), and is not limited to income and profit. This is an authentic, decentralized experience missing elsewhere, where users connect and play games, and stake $ROLA tokens in the special ROLA-Coaster game and even create their own custom NFTs.
Rosalind Lee recently spoke about how ROLA is unique in its emphasis on teams and communities, and what the Cryptoverse will look like in the near future.
When asked how the idea of ROLA came about, Rosalind said,“It was a combination of WAGMI and AI. We admire anime, where the protagonists work together as a“we”, and accomplish their goals against all odds. In the crypto community too, the values of teamwork and cohesiveness are important. ROLA is our effort to create a unique platform for the crypto community. ROLA represents the wisdom of the crowd. The crypto community on Twitter inspired us a lot, and we felt that such user inputs could be aggregated and translated into something useful. The fruits so obtained could then be distributed across the community.
On where the crypto industry is headed and what's needed, Rosalind says,“Right now, a lot of speculation is driving the world of Web3.0, De-Fi and crypto in general. I think the potential and use of these revolutionary technologies does not and should not end there. We hope that, unlike the past, when a few lucky individuals and groups with privileged access to technology got it all, things will turn out to be better. Financial literacy and public education will be important for this change to come about.”
Since its inception, the crypto industry has been driven by the power of its communities and the predictions that participants make about the markets. As such, it is important that members of this community be able to find each other and learn from each other's predictions. This is what ROLA is trying to achieve.
To wrap it up, ROLA is a next-generation social platform that uses AI to deliver signals about a broad range of crypto pairs to users, and in return enhances its learning from the user feedback and voting received. In addition to that, it offers gamified predictions about future price movements for leading cryptocurrencies. By providing both a space for community engagement and tangible rewards for this engagement, it is making sure that the crypto community continues to thrive with its own vibrant movement.
Tags Blockchain Crypto ROLA Related Links
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.