Neogame will function using Ticket Tokens (TKT) both as lottery tickets and prize fund currencies

choi93 (25)in #ico • 6 years ago

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Project summary
This project seeks to change the principles of gambling throughout the industry. The gambling business has always been based on "house edge" - the principle that casinos or organizers always have an advantage. With the advent of blockchain technology, there is no longer the need for organizers - people can gamble without intermediaries and claim their winnings without paying commissions. By launching Neogame, we begin this transformation process and believe that over time, most of the global gambling industry will adopt nonprofit models. The Neogame project stands in contrast to traditional lotteries, and we want to show the world how blockchain can be a game changer.

The traditional lottery has a very simple organization. The lottery house sells tickets, and allocates around half of the income to the prize pool, the second half goes to the host. This number can be more or less than half, but you can be sure that a
Traditional lotteries are a game of negative hope. Neoogames, on the other hand, are entirely different games. This project makes lottery and autonomous draws, is able to operate continuously and achieve full transparency through the Ethereum blockchain. This will allocate all funds to the last penny, by using clear algorithm written into a lottery smart contract.

Neogame is a lottery without a host. He does not have a third party owner or recipient. Once the project is launched, the team will lose control of the lottery, and the project will begin to work as a decentralized autonomous organization (DAO), governed by a smart contract. Neither the team nor the token holder will be able to influence the algorithm or draw results, and no third party will be entitled to dividends from the game. The game will not generate profit and, therefore, the profit of the token holder will only depend on the growth of the token value, which is tapped into the project logic.
-Driver growth Token - for a better understanding of why tokens must grow in value.

Ethical mission
Organizations, and investing in gambling may come with certain ethical problems. It's no secret that many players become addicted to gambling, a social consequence that can be said to be compared to drug or alcohol addiction. The online gambling development is worsening the problem because the game becomes more accessible. addictions can spend more playing time, and in the comfort of their own homes. The intrusive advertising and customer service provided by casino operators makes it difficult for him to fight addiction, and tries to constantly attract problem players back to the game. According to the National Council on Problem Gambling, 1% of the US population suffers from a pathological dependence on gambling, and up to 3% can be said to be a gamer problem.

The problem of gamers is the main source of money in the industry, and this will continue as long as gambling remains a profitable business. Non-profit blockchain gambling projects will
can gradually depress operators who are driven by profits out of the market. After the gaming industry moves to a decentralized, non-profit model, the game will become more human - if the game isn't made money, no party operator is interested in pursuing addicted gamers.

Market
Because of the simplicity and high return of business lotteries, in many countries this industry is monopolized by the state, without alternative operator access.

Market volume
According to the World Lottery Association, annual sales in the lottery business exceed $ 280 billion and continue to grow every year. According to TechNavio, market growth (CAGR) from 2017 to 2021 is estimated at 9% per year. Lottery is a large industry that comprises one third of global gambling. The lottery market is massive and stable, not affected by serious changes for years.

Who is playing?
Low-income families from rich countries are the most frequent lottery players. For example , low-income households in the US spend up to 9% of their total income on lottery tickets. About 60% of people over 18 (90 million people) play lotteries in the US, and up to 20% do it on a regular basis, spending up to $ 50 billion - $ 160 per individual - every year.

Typical business model
Lottery markets are not in a hurry to move online; offline lotteries are dominant, while new online projects only have a small portion of the market. Traditional lottery, with a very large house edge around 50% of ticket sales, still holds the main market share. Current market conditions , coupled with the new opportunities that are offered, create favorable conditions for launching a new, non-profit gambling project.

Token Specifications
Sweepstakes will use their own cryptocurrency - Ticket Token (TKT) - which is based on the Ethereum blockchain.
Ticket Tokens are utility tokens that have the following 3 functions:

Lottery tickets. A player buys tokens, selects a number combination through a decentralized application, and sends tokens to the lottery smart contract.
Assets that are part of a prize pool. The pool prize consists of Ticket tokens, and all prizes are denominated in TKT. The prize pool is very easy to change as far as the token itself, which allows for scaling the jackpot size to be a price increase token.
A cryptoasset that can be traded with predictable exchange rate fluctuations. TKT will be registered with a cryptocurrency exchange, and its value is expected to become volatile and subject to traceable effects of the Token growth factor.

TKT tokens are issued under the ERC20 standard, and are compatible with wallets that support Ethereum-based tokens. This allows the project to function uninterruptedly and indefinitely on the Ethereum blockchain, not relying on other external factors.

Emission
There will be limited emissions of 500 million tokens. Smart contracts do not allow for additional
emission of tokens in the future.

TOKENS DISTRIBUTION
sales of tokens (80%) 400 million
team (10%) 50 million
advisor (5%) 25 million
bounty and air drop (5%) 25 million

Cycle driver
Cycle drive is associated with the nature of the lottery, which shows the regular cycle between winning jackpots, thus affecting consumer behavior. These drivers work synergistically to increase the cycle of fluctuations in token exchange rates. Growth of periodic jackpots. This factor is common to all lotteries: an increase in prizes between the winning jackpot increases the demand for lottery tickets. With Neogame, requests for lottery tickets and token prices will grow simultaneously. Reduction in the number of tokens for free circulation. The standard lottery has unlimited number of tickets. In Neogame, however, the quantity of tokens is limited by the initial volume emission. The more tokens in the prize pool, the fewer tickets remain in free circulation.

Permanent driver
Increasing number of players. Given the limited supply of tokens, increasing players must have a positive effect on the TKT value. The concept of a non-profit lottery has a number of advantages for players, so we expect other lottery players to switch to Neogame and increase token requests as information about Neogame spreads in the media and word of mouth

Response to the driver.
An important difference between TKT tokens and most existing cryptocurrency TKT is expected to be widely used by the system itself. For example, the main functional purpose of Ether is to pay for transactions and services on Ethereum networks. Over the past year, less than 1% of the published Ethers were used for the intended purpose, which is sufficient for the cryptocurrency to grow both as a currency and investment asset.

With Neogame, most tokens, starting with the first game, will be bought back by lottery to create a prize pool, where they will remain until someone reaches the jackpot. Google is a game with limited assets and significant changes in its availability on the market. Therefore, their vulnerability to the influence of driver growth must be very high, and fluctuations in the token exchange rate are expected to be high too.

Neogame was compiled as Ethereum's smart contract. The terms of the smart contract set the lottery algorithm protected by the Ethereum blockchain, and there is no future change. Blockchain ensures the highest possible cryptographic protection to date. To hack a blockchain, one must have resources greater than half the capacity of the entire Ethereum network, which is supported by millions of miners around the world. There are no people or organizations of these resources and, therefore, hacking blockchain is only possible theoretically.

Decentralized organization
Neogame is not subject to any jurisdiction. That project is not a commercial company, has no owner, does not carry out economic activities, and does not accept profits. Neogame is regulated without management, and all transactions are based on rules and algorithms that are realized in intelligent contracts

There is no jurisdiction
Neogame operates as an autonomous decentralized organization (DAO). Such legal status of an organization is not governed by most laws and regulations, although a number of similarly organized projects operate successfully in the cryptocurrency market.

There is no economic activity
Neogame is not a company and will not do any economic activity. Making profits and using Business opportunities are not the purpose of the project and are not possible by nature.

There is no management
Decentralized organizations operate without human intervention. Neogame's smart contract is a complete and independent mechanism that is able to take bets, make lottery prizes, and pay out gift tokens according to the algorithm.

Link

Neogame website:
https://neogame.io

Smart Ticket Token Contract:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/Token.sol

Smart Token sales contract:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/Crowdsale.sol

Smart lottery contract draft5:
https://github.com/Neogame18/neogame-contracts/blob/master/contracts/NeoGame.sol

Name: metho93
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