SINGAPORE CITY, SINGAPORE, August 5, 2022 (GLOBE NEWSWIRE) —
When ROLA started developing their Web3 project, the first thing the team wanted to tackle was creating 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, a first-of-its-kind community of crypto lovers who can earn rewards for making market predictions.
Says Rosalind Lee, Product Manager at ROLA: “ROLA aims to build a rewarding community that is truly “WAGMI”. We are in this together, and we all get better together.”
Rosalind Lee, Product Manager at ROLA
ROLA, which stands for Open Iterative Learning Algorithm, is based on wonderful 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 strong social ecosystem that includes all the features of the Metaverse, such as Game-Fi and NFT, that will connect and empower the community. Thus, the app transcends the conventional metrics of limiting itself to earnings and instead strives for social connectivity: here, cryptocurrency traders, investors, and fans can come together and form channels to discuss, share, and to learn.
ROLA comprises many different features under the hood. Its main draw is the Predict2Earn algorithm 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 purchase NFTs and participate in gambling games starting soon this year.
On the technical side, there are two layers to the Meta AI engine: the first, the base layer, is continually updated and improved to make better and better predictions, and the second layer is the one that listens to user-generated signals and predictions and translates them into information for the base layer. In this feedback loop, the AI algorithm continues to evolve and gain strength, offering better insights to the community.
How does the Predict2Earn function actually work? The ROLA app sends AI-based signals for up to 120 crypto trading pairs (more pairs will be added in the future). Real-time streaming of crypto pairs keeps the ROLA community up to date. The market is divided into 8-hour sessions, and users vote on whether the session will end with a green or red candle. Rewards are calculated based on engagement metrics and the number of users. All users receive NFT from Rolagram in addition.
“Using the iterative learning algorithm and Web 3.0, our AI evolves with the collective wisdom of the ‘Rolarian’ community,” says Rosalind.
Members of the ROLA community go beyond profit, and can enjoy and challenge other “Rolarians”, the entire ROLA family, in meme wars and other games. Sounds like fun? There is more than that. The social media app allows users to explore popular crypto trends. ROLA will introduce a subscription-based service through which members of the community can also get insights from experienced cryptocurrency analysts and traders. Users can also create public discussion forums. For example, if there is a major rise or fall in the BTC or Ether market, specific channels can be created to share insights and knowledge with other users.
Recently, ROLA has announced its first NFT collection titled ROLAGRAM. Each asset in this collection can be minted by users each month. Each new asset will be based on previous user activities from the last month, such as their comments and voting history. This means that each NFT will be as unique as the user who receives it.
Another exciting feature of the community is the ROLAVERSE. This is a full-featured social ecosystem of the Metaverse (Game-Fi, NFT) and is not limited to revenue and earnings. This is an authentic, decentralized experience that is missing elsewhere, where users go online and play, wagering $ROLA tokens on the special ROLA-Coaster game and even creating 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 for 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 achieve their goals against all odds. In the crypto community, the values of teamwork and cohesion are also important. ROLA is our effort to create a unique platform for the crypto community. ROLA represents the wisdom of the crowd. We were very inspired by the cryptocurrency community on Twitter and felt that such user input could be aggregated and translated into something useful. The fruits thus obtained could then be distributed among the community.
On where the cryptocurrency industry is headed and what is needed, Rosalind says: “Right now a lot of speculation is driving the world of Web3.0, De-Fi and crypto in general. I believe that the potential and use of these revolutionary technologies does not and should not end there. We hope that, unlike in the past, when a few lucky people and groups with privileged access to technology have it all, things will turn out to be better. Financial literacy and public education will be important for this change to occur.”
Since its inception, the cryptocurrency 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 can meet and learn from each other’s predictions. This is what ROLA is trying to achieve.
To summarize, ROLA is a next generation social platform that uses AI to send signals on a wide range of cryptocurrency pairs to users and in return improves its learning from the feedback and votes received from users. On top of that, it offers gamified predictions on future price movements for major cryptocurrencies. By providing both a space for community participation and tangible rewards for this participation, it ensures that the crypto community continues to thrive with its own vibrant movement.