Calgary, Alberta, July 6, 2022 (GLOBE NEWSWIRE) – It has been more than three months since Russia invaded Ukraine, and many of us around the world are doing our best to help all those in need. Now, if we look around, the sad truth is that with the ongoing crisis that is crushing Ukraine, their national lottery operation has been disrupted, and so has the basic mission of raising funds for social “good” causes. The war has suspended ticket sales to the Ukraine National Lottery (UNL), and therefore UNL’s basic mission to raise money for good causes has been affected. By diving a little into the history of lotteries, it becomes clear that they are not a “money-making” game. They were originally created to fulfill the purpose of raising funds to contribute to state budgets and dedicated to good causes. Critics among us may be skeptical of this well-meaning motive, as it has sometimes been questioned in the allocation of lottery revenue due to lack of transparency. No matter what one may believe, it is an indisputable truth that state-authorized lotteries help raise funds for good causes, and UNL is no exception.
One blockchain company – Block Expert, Inc. – delivers a turnkey solution (MyLottoCoin), which forms a blockchain-enabled future for state-authorized lotteries. The organization has developed a UNL Super Lotto-themed lottery with the same rules for blockchain (BNB Chain), so that it can be reached globally and played by crypto (BNB) with a significant portion of sales going to charity through official channels.
At the forefront of its niche, with the task of enabling almost zero operating and administrative costs for lottery operators and organizers, Block Expert builds a bridge between the blockchain gaming experience and the traditional gaming world, while reinforcing the existing brick. and mortar business model. Based on this principle, and after enduring in thick and thin thanks to their turnkey blockchain solution, the organization has taken the social component of lotteries to the next level. Not only have they developed the “UNL Super Lotto” blockchain lottery for free, but they have also uncovered a new way of contributing to Ukraine’s recovery through a historically proven method of raising funds in a sustainable way.
This is what we know as “the real blockchain utility”. Those who pave the way for using blockchain technology to solve real problems and make everyday life easier are the most important differentiators in this industry, and contribute significantly to the standards of the technology, making it more accessible and tangible for everyone.
Conversely, two notable aspects are the openness of this initiative and the snowball effect. As mentioned earlier, transparency has always tarnished the lottery’s reputation due to uncertainty about the allocation of funds and prize payments. Blockchain is here to remove the barrier and rebuild confidence in this somewhat damaged aspect of lotteries.
In addition, this newly developed game not only provides the opportunity for donations, but also has an extra incentive to attract more people and lead to greater fundraising with winning opportunities in a lottery game. In cooperation with WhitePay and United24 (U24), a significant part of the funds (35%) will be allocated autonomously for charitable purposes to the Ukrainian government at each draw.
Allowing contributors the opportunity to donate while enjoying a traditional game with the chance to win creates a sustainable ecosystem where the snowball effect can potentially maximize participation, thus placing the social component at the center of the entire game.
In addition, the original MYL Play-to-Earn (P2E), Hodl-to-Reward initiative has also been integrated into the Super Lotto-themed game. For those unfamiliar, the MyLottoCoin ecosystem was created to increase the lottery game through a unique P2E program where players can easily receive the native tool symbols when purchasing lottery tickets, sent to their wallet for free. By participating in the lottery, players not only try their luck to win, but also automatically earn free tokens. These cryptocurrencies have market value and can be traded, but if they are held, the holder will periodically receive rewards based on the number of tokens held regardless of the luck with the jackpot. This is an additional value creation that will further enhance the snowball effect of the game in support of charitable causes for Ukraine.
It is clear that the team has done its part to utilize innovation for humanitarian purposes. The game will go live July 8, 2022, which marks “Family Day” in the Ukrainian calendar, and everyone will have the chance to play or donate to the prize pool for a greater good.
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