Feb 24, 2022
AUSTIN, Texas, Feb. 24, 2022 -- 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 has selected Algorand’s innovative blockchain to support the development of Project Nexus. Announced last year, Project Nexus is a blockchain-based gaming platform that is being developed by Lottery.com to operate lottery and other forms of online gaming worldwide with enhanced security, scalability and speed.
With a vision to create an environmentally sustainable platform that improves users’ gaming experiences, Lottery.com selected Algorand because of the blockchain’s focus on user safety, track record for consistent uptime, high performance, low-cost per transaction and stated commitment to a negative carbon footprint.
Tony DiMatteo, CEO and Co-Founder of Lottery.com, commented, “We’ve long believed that all gaming will eventually migrate to the blockchain because of its inherent transparency. In selecting a blockchain for Project Nexus, Algorand checks all the boxes we were seeking. Its technology contains a combination of high efficiency, low-latency, scalability and security, all of which are key attributes for games we expect to grow on the Project Nexus platform. Additionally, Algorand was designed to be environmentally friendly, which aligns with our commitment to support our communities and the environment.”
David Markley, Head of Business Solutions at Algorand said, “As one of the world’s most decentralized, scalable, and secure blockchain infrastructures, Algorand has thousands of leading organizations around the world leveraging its open source technology. We welcome Lottery.com to our community and are excited to support Lottery.com’s growth as they embark on their Web 2.0 to Web 3.0 transformation.”
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players and commercial partners located in the United States and internationally to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how non-profit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. For more information, visit www.lottery.com.
Algorand is transforming economic models and economies of all kinds. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand’s high-performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to users worldwide. Algorand is reshaping multiple industries - from TradFi and DeFi to new creator economies and beyond. With a commitment to interoperability and consistent delivery, Algorand’s sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for more than 2,000 global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value. For more information, visit www.algorand.com.