NEOGAME - THE NON-PROFITABLE GAMBLING PLATFORM POWERED BY THE BLOCKCHAIN TECHNOLOGY.

dacosta (47)in #blockchain • 6 years ago

The gambling business has helped so many low income earners to gain financial freedom. The number of people who gamble and avenues for gambling have increased significantly which has led to the establishment of so many gambling companies. These traditional gambling companies are mainly in for their personal gains and not their members. Most often than not, only half of the total proceeds generated from the gambling activities are given to the winner, while the company takes the remaining half. The winner is still made to pay commissions from the little he has earned; is this not a cheat? Because the gambling is very lucrative, in most countries, it is the only the government who owns all gambling companies and does not allow private companies to establish their own. Gamblers have been cheated for so long and it's time for them to be treated right. This is where Neogame comes in.

With the introduction of the blockchain technology into the gambling industry, Neogame is going to ensure that people gamble without intermediaries and also claim their winnings without paying any commission. The Neogame gambling platform will employ an autonomous, non-profit and transparent system of gambling through the Ethereum blockchain and reward their users with every penny of the funds generated.

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For gamblers to participate in a draw, each and everyone must send his or her tokens to the lottery smart contract, along with their wallet identification and information concerning the numbers selected. The tokens transferred to the smart contract are then added to the prize pool. The bets are being made and the TKT tokens are then sent to the prize pool using a decentralised application that interacts with the lottery's smart contract. After the draw, all the accumulated tokens are then sent to the winners' same wallets from which the stacked tokens were sent from into the lottery smart contract.

The TKT Tokens

The Ticket Token (TKT) is an ERC-20 compatibility token which will be the official token to be used for all transactions within the Neogame gaming ecosystem. There will be a limited supply of 500 million TKT tokens and no additional token will be created in the future. The token will mainly function as a lottery ticket, an asset making up part of the prize pool and a tradable cryptoasset.

There is a buyback policy from the Neogame team for the TKT tokens after the token sale. After deducting funds allocated for development and promotion from the total funds collected in the token sale, the remaining funds will be used to purchase back TKT tokens from holders. This exercise will start a month before the first Neogame draw, and it's going to continue until all funds are spent. We believe that this buyback system will affect demand and supply and eventually cause an increase in coin value.

If you are a crypto investor and you are reading this article then you are entreated to visit the official website of Neogame and partake in our token sale to support this great project that is bringing freedom to gamblers.