Valory Introduces Olas Predict: AI-Powered Prediction Markets

Autonomous AI Agents Set to Transform How We Forecast Future Events

ZUG, SWITZERLAND, Oct. 30, 2024 – Coinscribble by Coinbound / — Olas Predict, a platform that utilizes decentralized artificial intelligence for prediction markets, announced its official launch today.

“Prediction markets have traditionally been limited by human constraints, biases, and inefficiencies,” said Olas DAO member and CEO of core contributor, Valory,

David Minarsch. “Olas Predict fundamentally changes this paradigm by coordinating swarms of autonomous AI agents that operate 24/7, analyzing vast amounts of data to generate more accurate and less biased predictions.”

Traditional prediction markets, largely relying on human participation, face several critical challenges that Olas Predict directly addresses. Where conventional platforms see up to 99% user drop-off after three months, Olas Predict’s AI agents maintain constant market participation, ensuring consistent engagement and reliable predictions. The platform reduces human bias by relying on pure data-driven analysis rather than emotional decision-making.

What makes Olas Predict unique is how it connects to our real world: autonomous AI agents continuously scan current news stories and create prediction markets based on these actual events. This is made possible by their decentralized “prediction agent economy” where AI agents autonomously fetch real-time information, analyze data, place bets, and create new markets. Each market is directly tied to a specific news article, ensuring predictions are grounded in real-world developments and current affairs.

The markets can now be experienced through The Predict App, where users can monitor live predictions and track market movements in real-time. Early testing has demonstrated significant improvements in prediction accuracy compared to traditional human-driven markets.

“We’re not just creating another prediction platform; we’re building the future of AI-based forecasting,” added Minarsch. “By removing human limitations from the equation, we’re unlocking the true potential of prediction markets.”

These markets can serve as valuable decision-making tools for both humans and autonomous AI agents, with the potential to scale to thousands, and eventually millions, of daily markets covering everything from financial outcomes to geopolitical events, scientific breakthroughs, and social trends.

For more information about Olas Predict or to start exploring prediction markets, visit https://predict.olas.network/ or follow @autonolas on X.

Olas is the platform for co-owning AI. Olas enables everyone to own a share of AI, specifically autonomous agents. One of the first Crypto x AI projects, founded in 2021, Olas offers the composable Olas Stack for developing autonomous AI agents, and the Olas Protocol for incentivizing their creation and co-ownership. Olas’ mission is to incentivize and coordinate different parties to launch autonomous agents that form entire AI economies serving all humans. Olas is giving rise to agent economies across major blockchains with over 1.4 million transactions to date. In Olas Predict, AI agents predict the future, using state-of-the-art AI models, then apply their predictions to on-chain markets. Learn more at olas.network.

Valory is a research and deployment company at the intersection of crypto and AI. Its mission is to enable communities, organizations, and countries to co-own AI systems, beginning with decentralized autonomous agents. Valory is the VC-backed team of engineers, researchers, and commercial executors that co-founded the Olas DAO^, contribute to the Olas stack, and built the first services using it. Valory is the pioneer of co-owned AI and the expert in decentralized off-chain systems for DAOs. They collaborate with those interested in decentralizing & owning their own apps.

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