[NEOGAME]Blockchain for Non-Profit Gambling
Neogame, is a completely different game.because it 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.
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
The organisation of, and investment in gambling may come with certain ethical issues.
It is no secret that many players become addicted to gambling, the social consequences of which can arguably be compared to drug or alcohol addiction.
The development of online gambling only worsens the problem as games become more accessible.
The lottery will use its own cryptocurrency – Ticket Token (TKT) – which is based on the Ethereum blockchain
Ticket Token is a utility token that has the following 3 functions:
1) A lottery ticket. A player buys tokens, chooses a combination of numbers via a decentralised application, and sends tokens to the lottery’s smart contract
2) An asset making up part of the prize pool. The prize pool consists of Ticket tokens, and all prizes are denominated in TKT.
3)A tradable cryptoasset with predictable exchange-rate fluctuations
DISTRIBUTION OF TOKENS
bounty and airdrop
Circulation of tokens as a cryptocurrency
The circulation of tokens is possible immediately after the token sale. Listing on a leading cryptoexchange is expected within 2 months after the token sale. The final decision on the specific choice of exchange will be made after the token sale
Circulation of tokens as lottery tickets
To use Ticket tokens as lottery tickets, a player can purchase tokens on cryptocurrency exchanges, or via the built-in exchange within the lottery app.
Circulation as a prize
The prize pool consists of TKT tokens, and its value will be volatile to the same extent as the token’s exchange rate
Using Blockchain:Ethereum network and smart contracts
1 How Ethereum Network
Ticket Token generation and turnover, crowdsale process, and in the operation of Neogame as a lottery are powered by Ethereum Network, a decentralized platform that runs smart contracts. It makes Neogame run exactly as programmed without any possibility of crashing, censorship, fraud or third party interference for the entire blockchain lifetime.
we plan to make tokens grow
1 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
2 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.
3 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.
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