First non profit gambling project to change the game. This project is to disrupt a for-profit model of gambling. New lottery game with no owners , no commission, and no people involved. After the blockchain was invented, people can play wityh each other directly, with no organizers and intermediaries.
This innovation looks to transmute wagering standards all through the business. The wagering business has dependably been founded on "house edge" – the rule that the club or coordinator dependably has the propitious position. With the approach of blockchain innovation, there is not any more any requisite for coordinators – individuals can wager without delegates and claim their rewards without paying commission.
By propelling Neogame, we are kick-beginning this procedure of change and are certain that after some time, the astronomical majority of the ecumenical wagering industry will embrace the non-benefit exhibit. The Neogame venture remains rather than conventional lotteries, and we require to demonstrate the world how blockchain can turn into a distinct advantage.
This project seeks to change gambling principles throughout the industry. The gambling business has always been based on "house edge" – the principle that the casino or organizer always has the advantage. With the advent of blockchain technology, there is no longer any need for organizers – people can gamble without intermediaries and claim their winnings without paying commission.
By launching Neogame, we are kick-starting this process of transformation and are confident that over time, most of the global gambling industry will adopt the non-profit model. The Neogame project stands in contrast to traditional lotteries, and we want to show the world how blockchain can become a game changer. https://neogame.io/
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| https://neogame.io/wp-content/uploads/2018/08/Neogame_WhitePaper-Aug18.pdf |
Traditional lotteries have a very simple organisation. The lottery host sells tickets, and allocates around half of the earnings to the prize pool, the second half going to the host. This amount can be more or less than a half, but you can be sure that a traditional lottery is a negative expectation game.
Neogame, on the other hand, is a completely different game. This project makes the lottery non-profit and autonomous, capable of continuous operation and achieving full transparency via Ethereum blockchain. It will allocate all funds down to the last penny, by using a clear algorithm which is written into the lottery's smart contract.
Neogame is a lottery with no host. It has no owners or third-party beneficiaries. As soon as the project is launched, the team will lose control over the lottery, and the project will start working as a decentralised autonomous organisation (DAO), governed by a smart contract.
Neither the team nor token holders will be able to affect the algorithm or draw results, and no third party will be entitled to any dividends from the game. Neogame will not generate a profit and, therefore, token holders’ profits will depend only on growth in token value, which is tapped into the project logic.
It's new and it's different
- Fully autonomous
Based on Ethereum smart contracts, the lottery will exist as long as blockchain exists. It doesn’t need centralized management, it will just gather funds from tickets sold and distribute them all among winners according to a fair and clear algorithm. Neogame will not serve any beneficiaries: nobody has access to its funds other than by correctly guessing WINNING lottery numbers. - Scalable Jackpots
Neogame will function using Ticket Tokens (TKT) as both lottery tickets and prize fund currency. The supply is limited to 500 million tokens, and we will work to increase their value. When tokens value grows, the prize fund grows proportionally. If token value increases significantly, the jackpot size can be enormous. - Zero Commission
No lottery in the world offers such conditions for players as Neogame. It gives all raised funds to winners, while other lotteries usually leave 50% of funds for themselves and their projects. Moreover it’s up to 7 times more likely to win a jackpot with Neogame than with most popular lotteries. It is fully anonymous and winners can take their prizes immediately.
How we plan to make tokens grow
- Supply is limited
- TKT supply is limited to 500 million units and no further tokens can be issued according to the smart contract terms. If the game gains popularity, the token exchange rate should increase, as happens every time on any market when increased demand meets limited supply.
- We buy them back
The tokensale hard cap is about $40M in Ether. Only up to $2M are allocated to software development, listing on exchanges, marketing and legal advice. The remaining funds (up to $38M) will be spent on buyback of TKT tokens to form the initial prize fund. The buyback will be done at the exchange rate and will not stop until the full amount is spent. This should make a great positive impact on the tokens’ exchange rate. - Predictable fluctuations
Ticket Tokens values should predictably go up and down. They will probably tend to grow between jackpot wins as the prize fund grows and fewer tokens are available in free circulation. And they will likely to decrease in value after someone wins a jackpot and sells all the prize to other currencies.
Token determinations The lottery will utilize its own cryptographic mazuma - Ticket Token (TKT) – which depends on the Ethereum blockchain. Ticket Token is an utility token that has the accompanying 3 capacities: 1) A lottery ticket. A player purchases tokens, picks a coalescence of numbers by denotes of a decentralized application, and sends tokens to the lottery's keen contract. 2) A benefit making up some portion of the prize pool. The prize pool comprises of Ticket tokens, and all prizes are denominated in TKT. The prize pool is unstable to indistinguishable degree from the tokens themselves, which takes into account scaling the span of the immensely colossal stake should the tokens increment in cost. 3)A tradable cryptoasset with unsurprising swapping scale changes. TKT will be recorded on cryptographic currency trades, and its esteem is required to be capricious and subject to the impacts of traceable components.
TKT tokens are issued under the ERC20 standard, and are good with any wallet that backings Ethereum-predicated tokens. This enables the task to work uninterruptedly and inconclusively on the Ethereum blockchain, autonomous of some other outer factor.
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