Fire Lotto: an international lottery powered by blockchain
Most of us probably bought at least one lottery ticket or took part in sweepstakes hoping for a big win. However, most lotteries have a bad name due to rigged announcements of winners, manipulations with lottery drums or lottery balls, etc. Even if the event is broadcast live, there can be doubts as to honest intentions of organizers.
Enter Fire Lotto, the first lottery that guarantees transparency thanks to the power of blockchain. The lottery is fully functional and built on the Ethereum blockchain, which the Random Number Generator is based on the Bitcoin protocol to prevent rigging and ensure maximum security and transparency for all players.
The platform supports a variety of lottery games, from the instant Roger’s Wheel to 5×36 and 6×45.
The lottery market accounts for 29% of the gambling industry and has been on the rise over the last decade. The total profits of lottery market as of 2016 were as high as $294 billion. A new and very lucrative trend in the lottery market, with over $40 billion of revenue, are mobile lotteries. This market is very flexible and adaptable to new technologies, so it is quite ready for new generation blockchain lotteries.
– Complete transparency and security guaranteed by blockchain and smart contracts.
– Full-fledged product
– International lottery available even to the residents of countries where lotteries are prohibited
– Hefty prize pool. For example, the minimum 6×45 jackpot is 1000 ETH
– No sweepstakes tax
– Users can become co-organizers. Each token holder will receive 10% of revenues from all tickets sold.
FLOT tokens will be distributed to investors after the token sale and will have a function similar to shares, i.e. each token holder will be entitled to a 10% commission from all tickets sold. 100 000 000 FLOT tokens will be issued, distributed as follows: 77% to investors, 20% to the team, 3% as bounty. All unsold tokens will be locked for 1 year, then resold to investors.
The Fire Lotto platform was launched on January 1, 2018. The advertising campaign went live in late January 2018. The token sale is scheduled to last till April 15, 2018. The purpose of the ICO is to raise funds for the prize pool and cover the advertising and support expenses.
FireLotto is run by an experienced team, which comprises the CEO Roman Demidov, who has been active in fintech and e-commerce since 2006, founded Digital Gold LLP and helped develop blockchain solutions for government and corporate projects. Alexander Zasypkin is in charge of Business Development. He is also the CEO of GOSLOTO, a Russian state-supported lottery. Tolya Yanot is responsible for the technical side of the project. He is also the CTO of Cash Poker Pro and helped launch World Poker Club mobile app. The Protocol Architect Dmitry Polovaikin is a cryptographic engineer and smart contract developer who worked on such projects as Overkings MMORPG, HonestWar Multiplayer RTS, and Golden Dragon live casino. The advisors include Ronnee Ades of RAA Consulting Services, Robert Matuk of iGaming Group Ltd, and David Drake of LDJ Capital.
Traffic to this ICO comes mostly from the United States, Russia, Japan, Vietnam, and Ukraine. Referral traffic is the most widely used traffic generation channel, with ICO listings as the main referrers. 37,41% of the traffic is direct, while the share of social traffic is 4,20%. Top-3 providers of social traffic are Facebook, YouTube and Twitter. 0,31% of ethereum traffic are generated by ethereum ads.
Fire Lotto are currently at the pre-ICO stage which will last till February 15. You still have time to decide to support his startup and receive an early investor bonus. Meanwhile, you can examine their website and whitepaper.
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