Ronin Network is moving to become one of the leading players in the crypto space with two key developments. The platform has teased the arrival of a new age while simultaneously launching Forkast, a new prediction market platform. These changes show Ronin’s clear focus on constantly improving its ecosystem.
These moves come when blockchain platforms are working to become more practical for everyday use. What these updates mean for users and the price of the network’s native token, RONIN, remains to be seen.
Forkast Debuts on Ronin: Prediction Markets Meet Gaming
The Ronin ecosystem welcomes Forkast, a prediction market platform that was just recently launched on January 7th. The platform will enable users to predict various topics, including gaming, esports, streamers, and web3 events. Users can also earn rewards through weekly loot boxes containing prediction credits, tokens, and other incentives.
Forkast allows users to engage with real-world event predictions and earn $CGX tokens as rewards. The integration with Ronin Waypoint brings gasless transactions and simplified onboarding through email or social accounts.
Other Recent Developments in the Ronin Ecosystem
After four years as a curated chain, Ronin teases about the coming of a new era with Operation Leviosa, which will start next month. Operation Leviosa marks the network’s transition from an exclusive, curated ecosystem to an open platform welcoming diverse projects, from games to DeFi applications.
The network’s exclusivity approach, which initially helped maintain focus and quality, is evolving to embrace a broader ecosystem. This change allows projects on other chains to build on Ronin, removing previous exclusivity restrictions and opening new partnership opportunities.
On another note, the platform ushers in the Transak integration, where users across 160 countries can now directly purchase cryptocurrencies with fiat currency. The system supports RON, USDC, WETH, and SLP purchases through traditional payment methods such as credit cards and digital wallets. The partnership extends to NFT Checkout on Mavis Market, transforming digital asset purchases into a familiar e-commerce experience.
Despite these exciting events in the Ronin Ecosystem, the RON price performance remains subdued. The token currently trades at $1.86, showing a decline of roughly 5% in the past seven days. Although the token’s market cap is around $697 million at press time, it still faces consistent downward pressure. This is evident in the drop of the 24-hour trading volume by 17% to sit at $16.76 million at the time of writing.
Gaming Ecosystem Achievements
The gaming sector continues to thrive within the Ronin network. Pixels has emerged as a standout success with over 1.3 million daily active users, while Lumiterra has demonstrated strong market potential with $1.65M in NFT volume during its beta phase. Forgotten Runiverse has captured significant user engagement with 1.4M hours of gameplay, and The Machines Arena is preparing for its anticipated launch on Steam and PS5 on January 14th.
Ronin’s 2024 in numbers | Roninchain Blog
However, the network’s growth extends beyond gaming through strategic partnerships with industry leaders, including Binance, Coinbase, and Chainlink. Implementing Chainlink CCIP as the primary cross-chain infrastructure represents a significant advancement in security and interoperability. These developments, combined with the upcoming permissionless transition in early 2025, position Ronin for substantial growth beyond its gaming-focused origins.
