Think you know what the next hot Twitter trend will be? Now you can put your money where your mouth is.
Prediction markets have been a growing trend in recent year. It is essentially a stock market for future events and decisions. For example, people can buy or sell against a specific occurrence – like whether or not the Democrats will lose seats in the 2010 election. With thousands of people buying and selling on that occurrence, you can come up with a prediction that essentially utilized the crowdsourcing of open markets.
Now the prediction market has come to Twitter with PreTweeting, a new website that lets you buy specific words being used on Twitter and gives you $10,000 in virtual currency to do it.
Pretweeting is very straightforward in design. You can buy 50, 100, 500, or 1000 “slots,” with each slot equaling one word. Words rise and fall in price based on the market value, with $10 = being mentioned in 1% of all recent tweets. The top word for sale is currently “the”, which is going for about $228 as of this post. Mashable, on the other hand, is