Mechanism · IN
Information Markets
Markets whose underlying is information itself · attention, mindshare, sentiment, reputation, narrative. The Vitalik 'InfoFi' umbrella term covers this category.
Also known as: InfoFi · Attention markets · Mindshare markets · Sentiment markets · Reputation markets
In plain terms
Markets that price information itself · attention, mindshare, reputation, narratives. The underlying isn't an event with a fixed answer; it's a social signal.
How it works
Variable. Perpetual swaps on attention indices (Noise), bonding-curve tokens on trends (Zora Attention), LMSR on reputation scores (Ethos.Markets), KOL-influence PMs (Breakout). Vitalik's InfoFi umbrella term covers all of this.
How to identify it
Underlying is a social signal (attention, mindshare, reputation, narrative). Often no fixed event resolution; sometimes permanent (reputation markets like Ethos).
Common confusion
Often confused with prediction markets because the surface looks similar, but the underlying is a continuously-evolving social metric rather than a discrete event.
Platforms in this category (6)
- Bench · Opportunity Markets on Solana. Confidential staking influences decisions, powered by Arcium MPC.
- Breakout · KOL attention-trading prediction market.
- Noise · Stay Relevant. · long/short perpetual contracts on trends, brands, and ideas. Paradigm-led $7.1M seed.
- Fact Machine · Bet on opinions: wager on what the majority will believe, resolved by a gamified poll.
- Mindshare (on N1) · Narrative and attention market on N1.
- Narrative (narrativexyz / narrative.xyz) · Perpetual information markets · 'speculate on anything, forever' (mission tagline)
Key references
- From prediction markets to info finance · Vitalik Buterin · Nov 2024
- Kaito Yaps + Polymarket Attention Markets partnership · Mar 2026
- Noise · attention perps · Paradigm-led seed Jan 2026