Blockchain platform Waves has introduced a new betting market. That allows users to speculate if coronavirus pandemic spread has reached its height.

Customers can now buy the tokens ‘COVID-UP-SEP20’ and ‘COVID-DOWN-SEP20′ to bet on whether the number of new weekly cases worldwide will surpass April 4 – 10’s record of 595,802 confirmed infections before September.

Waves’ tokens are bought in exchange for Neutrino Dollar (USDN), the stablecoin. Up to September, all USDN to buy the tokens locked in escrow and then distributed to winners.

The campaign will potentially apply to charitable programs concerning coronavirus.

Create waves with its new markets

At the beginning of April, Waves introduced predictive betting markets allowing users to guess whether the number of COVID-19 cases reported globally will increase or decrease on a week-over-week basis.

A spokesman for the Waves announced that the week-over-week predictive markets of the company had ended, adding that its latest September markets are likely to be its last betting market on the COVID-19 theme.

According to data from the World Health Organization (WHO), the number of cases is estimated weekly.

Donates USD10,000 to charities

Waves urge winning punters to donate in the charity campaign ‘# CryptoCOVID19’ which has so far raised almost $4 million.

The company has also donated 10,000 Tether (USDT) to a dozen charities battling coronavirus effects. Including TheWaterProject, NoKidHungry, PencilsofPromise, and the Lupus Foundation.

However, weekly markets received forecasts of only $4,500.

The market of betting born out of lockdown

The Waves spokesperson claimed that the concept of introducing coronavirus-related betting markets originated from internal discussions about how long the pandemic and lock-down would last.

“As soon as the coronavirus epidemic started gaining momentum around the world and in Moscow, in particular, the WAVES. Exchange team switched to working remotely,” the spokesperson added: