The International Lottery and Gaming Limited (ILGL), trade-named NaijaLottery, has signed contracts to introduce Quanta, the world’s first licensed blockchain lottery.
This even as the new investor concluded the world’s first deal to see an important synergy of traditional and blockchain lottery.
ILGL is one of the largest gaming companies in Nigeria, and has been granted a Grade a National License from the National Lottery Regulatory Commission to offer lottery games throughout Nigeria.
Under the agreement, Quanta and ILGL will combine forces to apply blockchain technology to revitalize the traditional lottery, and to act as a platform to further strengthen growth in African market.
The partnership is a major development in the penetration of blockchain technology into traditional business models, the company said in a statement.
NaijaLotteryTM sells National Lottery tickets in every city and state, offering large prizes to winners.
Managing Director of Naija Lottery, Charbel Saadeh said, “Now is the time to build on the momentum of the traditional Nigerian lottery market. Together, we will continue to build a safe and trustful platform that ensures fairness and transparency, while offering amazing functionality to players and helping to boost the local economy, creating an even more compelling experience to optimize lottery playing for the 200-million Nigerian markets”.
Kostas Farris, Chief Technology Officer (CTO) and Director of Quanta, said the partnership “is a profound opportunity to bolster the rapidly-evolving lottery business.”