# Overview Newwit is a Predict-to-earn/Social-Fi app that harnesses the power of decentralized crowd wisdom for future predictions with AI technology. A project with value creation and real world relevance. ## Background Human beings love future predictions. From predicting tomorrow’s weather to investing in stocks to betting on the results of a sports game, we are making countless predictions every day. According to M.I.T. professor Sherry Turkle, the [predictions](https://theworld.org/stories/2011-01-03/why-do-we-predict) are *“part of our desire to control the future, and to imagine the future that we want.”* “*Prediction is as much our way of aspiring to something as our way of betting that we’re actually going to get to something.*” In other words, it is wired in our brain that we love to imagine and predict what will happen as we are both anxious and excited about it. The hope and fear for the unknown future make our brain keep thinking about it. Human beings do not only love predicting the future. In fact, we can not survive without predicting the future. We almost have a biological need for it. From weather forecasts to economic predictions, our success and failure rest on how accurately we can predict the future. Any investment we do involves a complicated process to forecast the outlook of the economy, the performance of a company, the Fed's near-term actions, and many other factors. Whenever we do some sort of planning, we are making certain assumptions about the future, essentially predicting it. Anyone who can predict the future better than others can benefit from it. People with good foresight are much closer to success as they can act and plan proactively rather than being reactive. As predictions are so important, Web2.0 provides a stage for key opinion leaders, analysts and self-claimed experts to position themselves as the best predictors in different domains. However, in Web2.0, there is no trustless way to track their prediction performance and no systematic way to reward them with monetary value accordingly. As a result, these opinion leaders and analysts have to rely on sponsored content and ads as revenue sources. The consequence of such model is that they are more likely to produce content that are biased (in the interests of their sponsors instead of their audience), vague statements that cannot be verified or exaggerated content that attracts eyeballs. In other words, the marketplace of prediction insights is broken. Users are not getting reliable information and insights on the internet and the predictors/analysts are not rewarded for their good insights. All these translate to real monetary losses via poor investment, betting, career planning and other forms of bad decisions. Thanks to Web3, the blockchain and crypto token technology enable us to redesign how the market of insights can work. Newwit aims to find the best predictors with our crypto-rewarding prediction game. Players predict and explain their reasoning on a social media like platform. All prediction activities and results are stored on blockchain. Our tokenomics of WIT (in-game currency) and WIS (governance tokens) are designed to reward players with good and consistent prediction performance, as well as other community contributions. Good predictors can unlock social media functions where they can produce premier content and charge their audience using our marketplace. "KOLs" in the Newwit platform must have demonstrated consistent prediction performance. Users who want insights can identify them from the leaderboard, verify their performance and pay them with our tokens. While Bitcoin miners mine new coins by proof of work (POW), WISDOM (WIS) miners mine new WIS by proof of predictive power (POP). Combining the technology of blockchain and AI, inputs from all players in the platform will be used to train Newwit's proprietary AI model. The AI model trained will be used to generate revenue from robo-trading, market intelligence and other analytic services. Revenue will then be redistributed to our governance token (WIS) holders to incentivize them to keep making high quality analysis and predictions. Thus, the Newwit project, tokens and mining (playing) process have clear value creation and real world relevance. ## Mission Our mission is to build a cryptocurrency backed by predictive power. Ultimately to create an AI model that predicts the future with higher accuracy using our decentralized network of WISDOM miners. ## Belief We believe in decentralized crowd wisdom and Web3 provides the best infrastructure to reward the crowd. We believe crowd-based wisdom outperforms individual prediction performance. We believe that one day we can build the world’s best predictor using decentralized wisdom. # Gameplay Newwit focuses on user experience. The "easy-to-play, hard-to-master" game is designed for mass adoption to include players who are not familiar with Web3. Players' objective in the game is to get as many WIT (the in-game currency) as they can by completing different tasks, including making correct predictions, getting upvotes in comments, reading news, proposing questions, growing followers and more. Then in each month, players will be rewarded with $WIS according to their ranking on the leaderboard. WIT is an in-game currency. It can be used to purchase Energy(entry ticket to polls), upgrade players' prophet NFT and its associated "Ability" attributes (up to certain levels), which affect the payout from performing different tasks. \ \ $WIS is our governance token with maximum utility value. it will be used to participate DAO governance, unlock premier functions, upgrade NFTs and subscribe to the Newwit AI services. # Prophet NFT character Newwit game play is more than voting. During onboarding, each player will be give a free prophet character, which is an NFT. Players can also acquire more and better prophet characters in the Newwit NFT marketplace. Different prophet characters have different Ability attributes which affect the payout of performing different actions on Newwit. Characters can be leveled up (up to certain levels). A higher-level character can earn more WIT for performing the same tasks. The first few levels of characters can be achieved through the consumption of WIT. Subsequent level-ups require consumption of WIS. The higher the character level, the more WIS it takes to level up. Level of character determines the cap on each ability attributes' maximum value. Each player can own at most 3 prophet characters. # Predict to earn The major way to earn tokens is to make correct predictions consistently. ### Prediction Questions In the Newwit platform, players can propose questions to predict. Initially, questions will be moderated by the Newwit project team as validators to ensure the questions are valid and outcomes are verifiable. Validators are also responsible for identifying a data source as the settlement criteria of the question. As the community grow, questions will be chosen and managed by the community.\ \ During each day, new questions of different topics will be released based on what happened/ will happen in the real world. Players then predict the outcome of these questions with a few clicks. ### Energy and Making Predictions To engage in a prediction, each player needs to consume 1 Energy. 10 Energy would be provided for free to each player every day. 1 Energy would be replenished to players periodically over a day. However, each player is only allowed to possess up to 10 Energy at all times. Unlike a prediction market where players need to buy and sell binary contracts which requires order matching, Newwit is much simpler. Players do not need to decide how much to bet and wait for the market making. Players just need to vote on the option they believe will happen. Each prediction costs exactly one Energy. \ \ Potential (\[maximum]) rewards and losses are calculated in WIT (in-game currency) using a simple formula:\ \ Rewards = ( 1 - current percentage share of votes of the chosen answer) \* 100\ Loss = 100 \* current percentage share of votes of the chosen answer\ \ For example, | Percentage share of Vote | Rewards for correct predictions (WIT) | Loss for incorrect predictions (WIT) | | ------------------------ | ------------------------------------- | ------------------------------------ | | 10% | +90 | -10 | | 50% | +50 | -50 | | 90% | +10 | -90 | In this simple design, the maximum payout in a single question is 100 WIT (could be adjusted in the future). The expected value of payout of any option is 0.
### Question Settlement Once the outcome of a question is known, the validators will settle the questions immediately using the predetermined settlement criteria and data source. Rewards and losses in terms of WIT are updated to players' account. # Discuss to earn Creating meaningful content upvoted by community Apart from making predictions, players can discuss reasoning for their prediction on the platform. Players can earn WIT when their comments are upvoted by other players. # Read to earn Earn WIT and learn at the same time Players can earn WIT by reading news and analysis on Newwit. Newwit has its own algorithm to determine whether the players has read a news, including the time the player spend on the news and their finger movements. # Contribute to earn Other ways you can earn WIT There are other ways to earn WIT by contributing to the community. Players can earn WIT by: 1. Inviting friends to join Newwit 2. Getting many followers 3. Proposing questions to Newwit # Energy You burn energy when participating in predictions. Energy is player's entry fee for each prediction question. All players will start with 10 Energy each day for free. 1 Energy would be replenished to players periodically over a day. Characters have an Ability attribute called "Stamina". The higher the stamina the faster the recovery of energy. Each player is only allowed to possess up to 10 Energy at all times. Other than daily and periodic replenishment, Energy can only be purchased using WIT. # Ability attributes All characters have four "Ability" attributes, which affect the payout of performing different actions. **Attack**: Increases the player's rewards for correct predictions. \ **Defense**: Reduces the player's loss for incorrect predictions.\ **Charm**: Increases the player's rewards for social activities.\ **Stamina**: Shortens the time for the replenishment of Energy. # Outfits Getting outfit of your most familiar topic can multiply your earnings of WIT. All prophet characters can wear different outfits. Changing outfit costs one Energy. Each outfit is associated with one prediction topic. When the player chooses the outfit for its character, the player will get extra rewards for correct predictions in that associated prediction topic. For example, if your character has the basketball outfit, you can earn more WIT when predicting basketball poll correctly. Newwit from time to time will cooperate with different NFT studios to release limited editions of outfits. Outfit NFTs requires minting using $WIS and may be found in loot box. # Newwit NFT Marketplace **NFT marketplace** In the Newwit NFT marketplace, players can purchase different prophet characters and character outfits from other players. Other than having a secondary market for the Newwit NFTs, Newwit from time to time will cooperate with different NFT studios to issue special limited editions of different prophet characters and outfits. There are limitations in terms of product scope that can be purchased with WIT. $WIS, on the other hand, can purchase anything in the Newwit marketplace and at a better rate than WIT. # Tokenomics Token system of Newwit ### Single tokens Newwit adopts a single-token model.\ WISDOM ($WIS): Governance and business token, listed and with fixed supply \ Contract Address(Polygon mainnet): 0xa8533F3C9e0e83683176086031fc996d5e42b436\ \ WIT, on the other hand, is NOT a crypto token, it is a score used to rank players on leaderboard. ### Real value creation Our tokens are not just something generated that can only be plowed back into the game with no real value or practical usage. With the AI model and its associated future applications, there are actual business use cases and real value creation involved, WIS holders are going to benefit from the value and revenue created by the AI prediction model trained. Businesses who wish to subscribe to Newwit's prediction intelligence and services must also use WIS as a transaction currency. # WIT WIT is a in-game score and has "unlimited" supply. It is an in-game currency and is the basis of ranking players on the leaderboard. ### WIT- Way to earn WITs are earned by players with their contribution to the platform through the gameplay. Refer to the Gameplay section to see how to earn in details. ### WIT- Usage * Purchase of in-game Energy * Each players' amount of WITs earned over a period determines its ranking in the leaderboard, which decides its eligibility for $WIS rewards # WISDOM ($WIS) WISDOM ($WIS) is an ERC-20 token and has a maximum supply of **1,000,000,000.** It is the governance and business tokens of Newwit. ### $WIS- token tap * Ranking rewards in the contribution leaderboard * Participating in special Newwit tasks * Other in-game/ community initiatives * Token-generation event (e.g. public sale) ### $WIS- token sink * Minting of NFTs and other game tools(owls, outfit, lootbox) in the Newwit marketplace * Upgrade/Level Up of prophet character (all levels) * Improve "Ability" attributes of the prophet characters * Subscription to Newwit AI/Data Analytics * Subscription to Newwit Top Predictors Premier content (blogs/livestream) * Unlock premium functions (Private group prediction tournament/ peer-betting) * Entitled to staking interests and revenue distributions * Participation in Newwit DAO governance # $WIS allocation and release schedule The total supply of $WIS will never exceed 1,000,000,000. The table below shows the distribution of $WIS.
$WIS holdersWIS tokensShare of tokens (%)Conditions
Ecosystem[460,000,000][46%]Linear distribution over the next [55] months until [Jun 2027]
Partnership[50,000,000][5%]Vesting conditions based on KPIs or milestones (if applicable)
Early team[150,000,000][15%]May subject to vesting conditions (if applicable)
Future Team[30,000,000][3%]Generally subject to vesting restrictions
Early investors and private sale[200,000,000][20%]Vested linearly
Public sale[30,000,000][3%]Unvested
Treasury[80,000,000][8%]May subject to vesting conditions (if applicable)
$WIS will be issued gradually until Jun 2027. The chart below shows the scheduled monthly maximum issuance of $WIS. The actual issuance schedule of $WIS may be affected by the use of Treasury tokens, amount of staking interests, the need for Ecosystem tokens, etc. Newwit from the to time may also buy back and burn circulating tokens to support the price performance.
### Ecosystem The ecosystem portion represents \[46%] of the total $WIS supply, or \[460,000,000] $WIS. Majority of it is used for play-to-earn. The play-to-earn allocation aims to attract as many users to make accurate predictions as possible. The Newwit AI prediction model is trained by users' prediction input. The model would become more valuable with more inputs to train it. Therefore, the value creation hinges on users' prediction mining process. Ensuring that there are sufficient incentives for players to participate in prediction mining is important for Newwit's long-term development. Players can earn $WIS mainly in the following ways: * Competing in the prediction games and ranking in the leaderboard * Engaging in analytics and social interactions to help improve ranking in the leaderboard * Participating in Newwit's special tasks * Referring more players and promoting the community ‌All the \[460,000,000] $WIS will be distributed linearly over the next 55 months until \[December 2026]. In each moth during the period, max of \[11,111,111] $WIS will be rewarded and distributed to players for participating in the game and community activities. This can also attract more players to participate in the game early as there are fewer users to share the monthly \[11,111,111] $WIS reward distribution pool. ### Partnership \[4%] of the total $WIS tokens are reserved for the development of the Newwit Partnership with other projects. The key purpose is to support the long-term development of the Newwit game applications as well as the proprietary AI prediction model, which will eventually generate value and revenue to reward back all token holders. The principles for granting tokens from the Ecosystem reserve are as follows: * Clear value added to the Newwit community * There may be vesting conditions for such Ecosystem tokens granted based on KPIs or milestones (if applicable) ### Newwit team Newwit team is the team to develop Newwit and its future AI model applications. The $WIS tokens allocation is to ensure that they are incentivize to continue develop and create value for the entire Newwit community and $WIS token holders. Newwit team are generally subject to vesting restrictions for their tokens. ### Early investors and private sale Newwit will raise funds from early investors and private sale to scale the project and support our development. Tokens issued will be vested over coming years. ### Public sale \[30,000,000] $WIS tokens will be sold in the public sale exercise, representing \[3%] of the maximum supply. The primary purpose of the public sale is to raise funds for Newwit development, increase liquidity of the $WIS tokens as well as to promote and attract more players to Newwit. ### Treasury Newwit sets aside \[8%] of the total $WIS tokens as Treasury pool. The Treasury pool tokens can be allocated for different purposes from time to time to support the development and growth of Newwit as well as other actions to keep the $WIS price stable. # Newwit AI Together, we predict the future. Newwit is much more than a prediction game. Newwit uses an AI model to combine predictions from all predictions and output its final predictions. Model Input: Players' historical performance, players' demographics, players' comments Model Output: Player's level of trust in a specific question AI objective: Combining all players' level of trust to output a final prediction. # AI model ### Model Inputs Newwit AI model inputs consists of three parts. **Player embedding** This is a mathematical matrix describing a player’s features, including age, occupation, education, number of predictions, overall accuracy, topic accuracy etc. **Question embedding** This is a mathematical matrix describing a question’s features, including title, associated topics, associated subtopics, number of answers etc. **Interaction embedding** This is a mathematical matrix describing how the player interacted with the question, including player’s prediction, player’s comments, number of upvotes received from the comment etc. **Model target** With the above 3 input embeddings, the model will compute a prediction power score per user using a deep neural network. During training, the AI model will push the prediction power to 1 if the player’s prediction was correct and -1 if the player’s prediction was incorrect. When the model converges, it will know how much to trust a player when it comes to a particular question. The level to trust is the measure of prediction power. Note that prediction power scores of 1 and -1 are equally important to the model. Player with -1 prediction power score contributes to the model by saying that most likely his/her prediction is incorrect. Prediction power score of 0 will mean the player’s prediction performance is not consistent and is considered noise statistically. The prediction power of each player in each question is different. ### Model Output Final Newwit Prediction Finally, the prediction power scores are summed to compute the final prediction. ![](/files/wKpZB3JoZVVDACrBwvo7) # Future applications Once the AI model is sufficiently trained, Newwit will develop future applications upon the model. Future applications include business intelligence, market prediction services and other prediction related applications. Revenue from these business services will be distributed to WIS holders. Newwit will also develop a robo-trading algorithm which will use Newwit's accurate prediction model to make investments and generate returns for $WIS holders. WIT and $WIS are generated by a meaningful gameplay with real world relevance and also a process to train the AI model. All the future applications make $WIS a token with real intrinsic values as holders are entitled to the value creation and revenue distribution from the AI model applications. # Roadmap and Milestones Step by step we will build a DAO that is owned and managed by the community. ![](/files/i5zhB7DnxMJfwhRfpb31) # Change Log | Version | Description | Updated Date | | ------- | -------------------------- | ------------ | | 0.1 | First draft of litepaper | May 19, 2022 | | 0.2 | Second update of litepaper | Dec 1, 2022 |