For this week’s feature about the best performing token for the last 7 days (as reported in our Weekly Recap), we will quickly go over Quanta, a project that aims to implement blockchain to one of the economic activities that naturally attract huge audiences: lottery.
Ripe for the Picking
Organized lottery has existed since the early years of civilization. There has been records of it that date to early Chinese dynasties, to the point of theories claiming that lotteries might have helped in the funding of the Great Wall. Other records include draws being held as amusement at dinner parties in the Roman Empire. Overall, is a practice that has accompanied humanity through centuries.
Nowadays, lotteries are still very popular, with people from all around the world participating steadily in their local draws and raffles for a chance to win big amounts of money. But a deterring factor is that their prizes never add up to the advertised numbers, given that up to 40% can be charged to the winner in taxes, and nearly another 15% is taken by the companies to cover operational costs and as reserves for other expenses.
Additionally, the centralized ways in which lottery companies work is a concern that has risen quite recently. When all that amount of money is being handled by a single company, on top of the increase of scams that comes with online advertisement for tickets and the requirement of trusting that the company distributes the money rightfully, that their methods are genuinely randomized and their compliance with regulations, the doubts rise even stronger.
To face these issues, Quanta emerges as the world’s first legally operating lottery based on blockchain technology, designed to operate on a global scale from the very beginning and bringing great benefits to every party involved in the process of lottery.
Everyone Gets a Piece
The first group that needs to be attracted to the project due to its benefits are obviously the players, as they are the ones that will be purchasing the tickets that finance the entire operation of the model. The players get to participate for big prices as the amount of users is increased and they are also offered a way to passively generate income by owning QNTR tokens (5% of the total ticket revenue is distributed according to the number of tokens owned), while also resting at ease knowing that blockchain keeps all their transactions secure against malicious attacks.
Advertisers get to earn safe and constant commissions from ticket sales, while participating for token rewards on each draw and being part of a fraud-free affiliate network with their pairs. Business owners get a product to sell on their own, while giving their clients the possibility to become part of a community and having easy access to experts and advisors on the use of the Quanta platform.
Besides that, the Quanta team offers an utility token (QNTU) that is put up as a collateral for the transactions performed, and a wallet where users can safely store BTC, ETH and both QNT tokens, in order to offer their wide audience all they need to enter the world of blockchain-based lottery either as a player or as a host.