Neogame will function using Ticket Tokens (TKT) both as a lottery ticket and prize fund currency
Project summary
This project seeks to change the principles of gambling throughout the industry. The gambling business has always been based on a "house edge" - the principle that casinos or organizers always have an advantage. With the advent of blockchain technology, there is no need for organizers - people can gamble without intermediaries and claim their winnings without paying commissions. By launching Neogame, we begin this transformation process and believe that over time, most of the global gambling industry will adopt a non-profit model. The Neogame project stands in contrast to traditional lotteries, and we want to show the world how blockchain can be a game changer.
Traditional lotteries have a very simple organization. The lottery house sells tickets, and allocates about half of the income to the prize pool, the second half goes to the host. This amount can be more or less than half, but you can be sure that a
Traditional lottery is a negative hope game. Neogame, on the other hand, is a completely different game. This project makes lottery and autonomous lotteries, capable of operating continuously and achieving full transparency through the Ethereum blockchain. It will allocate all funds to the last penny, by using clear algorithms written into smart lottery contracts.
Neogame is a lottery without a host. He has no third party owner or recipient. Once the project is launched, the team will lose control of the lottery, and the project will begin working as a decentralized autonomous organization (DAO), governed by a smart contract. Both the team and the holder of the token will be able to do it affect the algorithm or draw results, and none of the three parties will be entitled to dividends from the game. Neogame will not generate profits and, therefore, the profit of the token holder will only depend on the growth of the token value, which is tapped into the project logic.
-Driver growth tokens - for a better understanding of why tokens must grow in value. Ethical mission
Organizations, and investments in gambling may come with certain ethical issues. It's no secret that many players become addicted to gambling, the social consequences of which can be arguably compared to drug or alcohol addiction. The development of online gambling worsens the problem because the game becomes more accessible. addiction can spend more time playing, and in the comfort of their own home. The intrusive advertising and customer service provided by casino operators makes it difficult to fight addiction, and strives to constantly attract problem players back to the game. According to the National Council on Gambling Problems, 1% of the US population suffers from pathological dependence on gambling, and up to 3% can be said to be a problem for gamers.
The problem of gamers is the main source of money in the industry, and this will continue as long as gambling remains a profitable business. Non-profit blockchain gambling projects will
can gradually pressure profit-driven operators out of the market. After the game industry moves into a decentralized, non-profit model, the game will become more human - if the game is not made money, no party operator is interested in pursuing addicted gamers.
Market
Because of the simplicity and high returns of business lotteries, in many countries this industry is monopolized by the state, without access to alternative operators.
Volume pasar
According to the World Lottery Association, annual sales in the lottery business exceed $ 280 billion and continue to grow every year. According to TechNavio, market growth (CAGR) from 2017 to 2021 is estimated to reach 9% per year. Lottery is a large industry comprising one third of global gambling. The lottery market is massive and stable, not affected by years of serious change.
Who is playing?
Low-income families from rich countries are the most frequent lottery players. For example , low income households in the US spend up to 9% of their total income on lottery tickets. About 60% of people over 18 (90 million people) play lotteries in the US, and up to 20% do it on a regular basis, spending up to $ 50 billion - $ 160 per individual - every year.
Typical business model
The lottery market is not in a hurry to move online; offline lottery is dominant, while new online projects only have a small part of the market. Traditional Lottery, with a very large edge of the house about 50% of ticket sales, still holds the main market share. Current market conditions , coupled with the new opportunities that are offered, create favorable conditions for launching new, non-profit gambling projects.
Token specifications
Lottery will use its own cryptocurrency - Ticket Token (TKT) - which is based on Ethereum blockchain.
Ticket Tokens are utility tokens that have the following 3 functions:
1) Lottery tickets. A player buys tokens, chooses a combination of numbers through decentralized applications, and sends tokens to lottery smart contracts.
2) Assets that are part of the prize pool. That pool gift consists of Ticket token, and all the prizes are denominated in TKT. The prize pool is very easy to change as far as the token itself, which allows for the scaling of a jackpot size to be a price increase token.
3) A cryptoasset that can be traded with predictable exchange rate fluctuations. TKT will be registered with a cryptocurrency exchange, and its value is expected to be volatile and subject to effects that can be traced to Token growth factors).
TKT tokens are issued under the ERC20 standard, and are compatible with wallets that support Ethereum-based tokens. This allows the project to function without interruption and without limits on the Ethereum blockchain, not depending on other external factors.
Emission
There will be limited emissions of 500 million tokens. Smart contracts do not allow for additions
token emissions in the future.
TOKENS DISTRIBUTION
token sales (80%) 400 million
team (10%) 50 million
advisory (5%) 25 million
gift and entrust air (5%) 25 million
Cycle driver
The cycle driver is associated with the nature of the lottery, which shows a regular cycle between winning jackpots, thus affecting consumer behavior. This driver works synergistically to increase the cycle of fluctuations in the token exchange rate. Growth of periodic jackpots. This factor is common for all lotteries: an increase in prizes between winning jackpots increases the demand for lottery tickets. With Neogame, requests for lottery tickets and token prices will grow simultaneously. Reduction in the number of tokens for free circulation. Standard lotteries have an unlimited number of tickets. At Neogame, however, the token quantity is limited by initial volume emissions. The more tokens in a collection of prizes, the fewer tickets remain in free circulation.
Permanent driver
Increasing number of players. Given the limited supply of tokens, the increase in players must have a positive effect on the value of TKT. The concept of a non-profit lottery has a number of advantages for players, so we expect other lottery players to switch to Neogame and increase the demand for tokens as information about Neogame spreads in the media and word of mouth
Response to the driver.
The important difference between TKT tokens and most existing cryptocurrency is that TKT is expected to be used widely by the system itself. For example, the main functional goal of Ether is to pay for transactions and services on the Ethereum network. During the past year, less than 1% of Ethers were issued used for the intended purpose, which was enough for cryptocurrency to grow both as a currency and as an investment asset.
With Neogame, most tokens, starting with the first game, will be repurchased by lottery to create a prize pool, where they will remain until someone reaches the jackpot. Neogame is a game with a limited number of assets and significant changes in availability on the market. Therefore, their vulnerability to the influence of driver growth must be very high, and fluctuations in token exchange rates are expected to be high as well.
Neogame was compiled as a smart Ethereum contract. The terms of the smart contract regulate the lottery algorithm protected by Ethereum blockchain, and there is no future change. The Blockchain ensures the highest possible cryptographic protection to date. To hack the blockchain, one must have resources greater than half the capacity of the entire Ethereum network, which is supported by millions of miners around the world. There is no such person or organization of resources and, therefore, hacking the blockchain is only possible theoretically.
Decentralized organization
Neogame is not subject to any jurisdiction. The project is not a commercial company, has no owner, does not engage in economic activities, and does not profit. Neogame is set without management, and all transactions are based on rules and algorithms that are realized in intelligent contracts
There is no jurisdiction
Neogame operates as a decentralized autonomous organization (DAO). Such legal status of organizations is not governed by most legislation, although a number of similar organized projects operate successfully on the cryptocurrency market.
There is no economic activity
Neogame is not a company and will not do any economic activity. Making profits and using business opportunities is not the goal of the project and is not possible according to its nature.
There is no management
Decentralized organizations operate without human intervention. The Neogame smart contract is a complete and independent mechanism that is able to take bets, make lottery prizes, and pay out gift tokens according to the algorithm.
There is no management
Decentralized organizations operate without human intervention. The Neogame smart contract is a complete and independent mechanism that is able to take bets, make lottery prizes, and pay out gift tokens according to the algorithm.
Link
Neogame website:
https://neogame.io
Smart Ticket Token Contract:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/Token.sol
Smart Token sales contract:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/Crowdsale.sol
Smart lottery contract draft5:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/NeoGame.sol
author : paiilgoilgo
ETH address : 0x4D3df5e2BF09323f6FeB28bA1286696618e0Cc6C
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