The lottery is one of the most patronized industries anywhere in the world. The growth of the lottery market has surpassed many others, with its global market valued at US$ 350 billion in 2020 alone. Even with the pandemic, the lottery industry has continually grown and is projected to scale to US$ 433.78 billion by the end of 2026. The predicted growth is at a CAGR of 4.05% from 2021 through 2026. Still, like any other industry, the lottery market has its own share of problems and issues, especially in its traditional model. On a mission to eliminate such woes in the conventional lottery model, DeLotty NFT launches a system set to revitalize the lottery market through blockchain technology.
Despite the remarkable numbers and growth in the traditional lottery market, it’s not immune to issues, including dwindling jackpots, limited security, long payouts, and the limitations of region-based draws.
“There is an obvious need for an overhaul of the lottery industry, and lotteries have to adapt and change their approach to stay relevant to a new generation of players,” explained the creators of DeLotty NFT. “The solution is a fully decentralized platform that leverages the advantages of blockchain technology.”
They further went on to explain that blockchain technology is key to creating a fairer, safer, and more transparent lottery platform that would encourage young players to join the game. The next step involves the evolution of lotteries in blockchain technology that enables autonomous decentralized operations with high levels of gains, transparency, privacy, security, and unity for participants across the globe.
DeLotty NFT provides holders with unique opportunities to be the first to benefit from the global transition of lottery businesses and become active shareholders of the biggest lottery platform in the metaverse. The collection consists of 7,777 randomly-generated assets, all with their own unique metadata. Each NFT grants holders the privilege to stake in the platform and receive a lifetime passive income through its play-to-earn and hold-to-earn systems. Offering tangible, game-changing benefits to holders, DeLotty NFTs are indeed providing investors with the best value for their money.
“DeLotty represents the global Web3 next-generation lottery platform that integrates into the metaverse and eliminates the main issues of official, conventional, and online gaming. The use of blockchain technology offers a practical approach to simplifying the online lottery model and fixing its defects by enabling fast, reliable, and disruptive technology access to plates and instant winning payouts while cultivating a culture of trust to a damaged reputation of traditional lotteries,” explained the creators.
In addition, DeLotty established its own tokenomics system with its native utility token, DLOT. Of the total supply, 30% is allocated for free distribution among NFT holders and players who stake DLOT on DeLotty platform, 50% will be available for sale, which will be introduced gradually to eliminate inflation, and the remaining 20% will be locked up for future project development.
Besides being entitled to the free DLOT distribution, DeLotty NFT holders will enjoy jackpot prizes, NFT breeding opportunities, and governance after the establishment of the project’s DAO, giving holders voting rights for further projects.
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