FOR IMMEDIATE RELEASE
Tokyo-based startup Nous today announced a new service allowing people to make predictions on the Standard and Poor’s 500 equity index for free, with the unusual benefit of earning cash if they accumulate enough points making correct predictions.
Spark Profit, their phone and web-based prediction app, was released on January 29th this year after extensive beta-testing in 2013. Initially supporting Foreign Exchange and Bitcoin, today marked a milestone for the firm with the addition of it’s first Equity Index market. More indices are planned to arrive in the coming weeks.
Nous’ CEO, Justin Short, said “We built Spark Profit so people could discover their hidden talents while doing something valuable in their spare time. Adding the S&P500 index gives everyone an extra opportunity to do just that.”
Nous has awarded over USD $24,000 to its users to date. These rewards are paid for by a unique business model, that Nous calls “Crowd-sourced Alpha”. With this model, large financial trading firms pay to subscribe to the stream of predictions, using the insights contained in the data to inform their own trading decisions and increase trading efficiency.
Nous was founded in 2012 by Justin Short and four other former high flying Merrill Lynch traders and technologists, who saw an opportunity to help firms understand and predict financial markets, by empowering people around the world to discover and hone their natural trading talents. It launched Spark Profit, the virtual trading game, in January 2014.
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