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Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company that is transforming how, where and when the lottery is played, today announced that it is in the early stages of development for a platform to operate lottery, sports betting, sweepstakes, and other forms of online gaming, as well as enhance the Company’s API capabilities. This multi-year project, called Project Nexus, is a component of the Company’s strategy to leverage blockchain-based technology to enhance the availability and security of the Company’s product offering. The Company is currently in discussions with leading blockchain providers to partner on the development of Project Nexus.
The blockchain-based elements of Project Nexus are expected to allow the Company to provide improved transparency into results and enhanced security of every game it offers across gaming verticals. Once fully developed, the Company plans to leverage Project Nexus to introduce multiple proprietary lottery games for players outside the U.S., with the potential for multi-billion dollar shared jackpots. The platform is expected to provide users with the ability to vote on the allocation of a portion of the proceeds from these jackpots toward social and environmental causes.
Additionally, Project Nexus is intended to allow players in permitted jurisdictions to utilize fiat or crypto payments to play these proprietary games, thereby opening these games to a larger market.
“We believe that the future of gaming is blockchain and we anticipate that Project Nexus will be an important step toward realizing blockchain’s potential to provide transparency and security to our products. It’s crucial for any player to have full trust and confidence in the integrity of whatever game they are playing, and blockchain technology has the potential to improve that transparency,” said Tony DiMatteo, Chief Executive Officer and Board Chair of Lottery.com. “Gaming is an excellent use for blockchain, and we intend to leverage this technology to improve security for players worldwide.”