The lottery has been a means of financial help for people longer than most believe, and the past couple of decades have seen the lottery market grow even further with no signs of slowing down. In addition, technological innovation has allowed the industry to advance even further, removing the problems that traditional lotteries had. With the introduction of Non-Fungible Tokens, NFT project DeLotty NFT provides a unique opportunity to transform into the largest lottery platform.
DeLotty NFT is a collection of ERC-721 token standards that consists of 7,777 randomly-generated NFTs, each with its own metadata. The project aims to grant holders the opportunity to own a stake in the biggest lottery platform, which is set to emerge in the Metaverse, where they will receive passive income for life.
The project represents the global Web3 next-generation platform that integrates into the Metaverse, eliminating the issues of official, conventional, and online gaming. By utilizing blockchain technology, DeLotty offers a practical approach to simplifying the online lottery model and fixing its defects by enabling fast, reliable, and disruptive technology access to players and instant winning payouts while cultivating a culture of trust to a damaged reputation of online lotteries.
With the launch of DeLotty, players around the Metaverse will be able to participate by buying lottery tickets with the anticipation of winning minor prizes and the major prize, the Jackpot. In addition, proceeds from the lottery ticket sales accumulated on the DeLotty will be distributed.
80% will be retained for the prize pool, with 5% allocated for project operation, marketing, and further development. Additionally, 10% of proceeds is allotted to DeLotty NFT holders who stake their NFTs on the DeFi platform, with the remaining 5% distributed to DLOT (DeLotty native utility token) holders. The minimum requirement for staking to benefit from income distribution is 60 days.
The DeLotty NFT are randomly generated, with some traits having more probability of being included in the NFTs compared to others that are based on a particular mathematical algorithm. The rarity scheme includes Legendary (49), Epic (333), Rare (777), Uncommon (1,888), and Common (4,730). The rarity of each NFT defines a percentage its holders will receive from income, with Legendary gaining 5%, Epic 10%, Rare 15%, Uncommon 25%, and Common receiving 45%.
The NFT project introduces a community reward program that re-conceptualizes the lottery model into a tokenized play-to-earn and hodl-to-reward initiative, empowering players to always be part of the game. To facilitate and autonomise the reward program, DeLotty issues its own native token, DLOT. With a total supply of 49 million Ethereum blockchain-based DLOT tokens, 30% is allocated for free distribution among NFT holders who stake DLOT on the DeLotty platform, 50% for sale, which will be introduced gradually to eliminate inflation, and 20% locked up for project development.
As time goes on, staking distribution will gradually decrease, giving early adopters most of the benefit. Additionally, the DLOT token is used for breeding and will be gradually burned to increase the price of the DLOT token.