What makes the NFT industry so special is its ability to bring any project to life, no matter how eccentric or unusual its concept might be. Anything from serious ideas such as helping people build brands to fun-filled ones built on memes and jokes are welcome in the space. This time, one emerging project was created for the lottery enthusiasts: DeLotty NFT.
The lottery market is a multi-billion dollar industry ,which is expected to grow even further and reach $433.78 billion by the end of 2026. Yet despite these astonishing numbers, its player-base continues to experience numerous issues with traditional lottery.
This includes dwindled jackpots, limited security, and long payouts. Not to mention, most of these conventional lotteries are operated in specific regions thus limiting access to players from other parts of the world.
Guided by this realization, the dynamic team behind the project set out to create a lasting fix. According to them, “There is an obvious need of overhaul of the lottery industry and lotteries have to adapt and change their approach to stay relevant to a new generation of players. The solution is a fully decentralized platform that leverages the advantages of blockchain technology.”
DeLotty NFT is a collection of 7,777 ERC-721 tokens. It features 3D art of lottery balls and lottery drums characters generated from a large number of traits. Each token is classified into five rarities: common, uncommon, rare, epic, and legendary.
What makes the project truly stand out is its unrivaled utility and abundant benefits. Through its revolutionary Web3 DeFi lottery platform, players around the Metaverse will be able to participate by buying lottery tickets with the anticipation of winning minor prizes and major prize, Jackpot.
However, for those individuals who do not wish to participate in the lottery, they have another option for earning revenue through staking. 15% of the proceeds from the sale of lottery tickets will be distributed among those who staked their NFTs.
But perhaps the most significant perk that DeLotty NFT offers is its tokenomics. The venture will be releasing a native utility token, DLOT which it will use to facilitate and autonomize its rewards program. These tokens will have several uses such as prizes for its upcoming Play-to-Earn game and Hodl-to-Reward initiative.
Of course, there are other exciting perks for the community including a DAO where token holders will receive voting rights for possible future projects. On top of that, a breeding option that yields a DeLotty Junior NFT will be available for those who have 2000 DLOT Tokens.
These incredible utilities are a testament to DeLotty NFT’s commitment to its vision. Moving forward, the project developers promise to continue pushing the boundaries of the lottery industry by championing the welfare of players worldwide.