The rapid emergence of NFTs has brought about countless projects that have enticed enthusiasts, collectors, and investors alike. One up-and-coming NFT project poses the answer to the question: “What if NFTs were seamlessly combined with the lottery experience?” Naturally, this question alone would pique one’s interest, and DeLotty NFT has done just that, bringing a brand-new concept to the metaverse that is sure to shake things up.
The premise for DeLotty NFT is built on a solid foundation that is bound to amass remarkable potential. The lottery industry is a multi-billion dollar industry. It is projected to grow even more and reach $433.78 billion by the end of 2026. However, one major issue with the industry is that traditional lottery often leaves its player-base in the dust. Countless issues have been pointed out in the traditional lottery system, such as 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.
In search of a long-term solution, the team behind DeLotty NFT developed the project for the betterment of the industry and its loyal player-base. “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. The solution is a fully decentralized platform that leverages the advantages of blockchain technology,” explained the creators.
DeLotty NFT is a collection of 7,777 ERC-721 tokens. It features three-dimensional digital art pieces of lottery balls and lottery drums characters with procedurally generated traits. Each token is classified into five rarities: common, uncommon, rare, epic, and legendary. The renowned NFT project utilizes its revolutionary Web 3.0 DeFi lottery platform to enable players to purchase lottery tickets within the metaverse.
Holders who do not wish to participate in the lottery will have another option of earning revenue through staking. 15% of the proceeds from the sale of lottery tickets will be distributed among those who staked their NFTs.
As with every other NFT project, the fine print is mostly down to its tokenomics. DeLotty NFT will be releasing a native utility token, DLOT. The token will be used to facilitate and automate its rewards program. These tokens will have several uses, such as prizes for its upcoming Play-to-Earn game and Hodl-to-Reward initiative.
DeLotty NFT will also have a Decentralized Autonomous Organization (DAO) where token holders will receive voting rights for prospective future projects. The project is a community-based NFT first and foremost, and the developers want to emphasize this fact to its loyal investors.
Furthermore, there will also be a breeding option that yields a DeLotty Junior NFT. This will be available for those who staked a pair of NFTs before breeding is enabled and have 2000 DLOT Tokens. The up-and-coming NFT collection is poised to bring massive value to the industry.