Exciting times are ahead of the metaverse as the emerging non-fungible token (NFT) community DeLotty, designed to be the biggest and most disruptive lottery platform to ever hit the blockchain, is getting ready to launch very soon. The launch of the DeLotty NFT community could not come at a better time as the lottery industry is showing signs of an overwhelming need to reinvent itself to address common issues. The token community is poised to be one of the possible solutions to these issues by simply leveraging blockchain technology.
It is a known fact that the lottery business has been plagued with key issues in the past years, issues that remained unresolved for quite some time. These issues include dwindled jackpots, limited security, long payouts, and limited players for regional-based lotteries. The lottery industry also has to come to terms with the other known fact that a new breed of young lottery players have emerged over the past couple of years, and they are most inclined to leverage those that they can access online. A decentralized platform such as DeLotty comes as a potential solution that can revolutionize the lottery industry.
Undeniably, blockchain technology offers a fairer, safer, and more transparent lottery platform that can have a significant impact on the industry as a whole. It also has the potential of rewarding players with massive gains that are secure, transparent, and provide privacy. In 2020, the global lottery market was valued at $350 billion. It is expected to reach a whopping $433.78 billion towards the end of 2026 with a growing compound annual growth rate (CAGR) of 4.05% from 2021 to 2026. This speaks a lot about the massive potential that the industry possesses long-term.
As a token community, DeLotty will release 7,777 NFTs during minting, which is strategically divided into five key categories: Legendary, Epic, Rare, Uncommon, and Common. The tokens will be randomly generated during minting and will combine hundreds of unique traits. Among the total number of tokens available for minting, 49 are Legendary, 333 are Epic, 777 are Rare, 1,888 are uncommon, and 4,730 are Common. Each token category defines a percentage that the owner will receive a passive income in the future.
DeLotty will introduce its own unique community reward program that will reconceptualize the lottery model through a play-to-earn and hold-to reward. It will empower players to always be part of the game. The community will issue its own native utility token DLOT to facilitate and autotomize the reward program. Among the total supply of Ethereum blockchain-based DLOT token, 30% goes to free distribution among holders and players who stake DLOT on the platform. 50% will be sold and will be gradually eliminated to prevent inflation. Additionally, 20% is going to be set aside for project developments in the future.
Additional rewards also await future NFT holders of DeLotty, including DLOT distribution, a jackpot draw, breeding, and governance. Breeding will be the result of a pair of DeLotty tokens, which is called the DeLotty Junior NFT. Its only conditions are that the pair should be staked before breeding is enabled and the possession of a 2000 DLOT token. Governance, on the other hand, will enable holders to possess voting rights for future projects.
The community has yet to announce the official launch date of its NFTs, including its pricing. Nonetheless, the word is out that an exciting possibility is about to invade the metaverse and eager investors are keeping their eyes out for updates.
Opinions expressed by NY Weekly contributors are their own.