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Lottery.com Inc. (LTRY) Announces Plans to Develop Blockchain Gaming Platform; Shares Lower

Monday, November 08, 2021 11:04 AM | Kyle Depontes

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Lottery.com Inc. (LTRY) Announces Plans to Develop Blockchain Gaming Platform; Shares Lower

What is going on with LTRY?

Lottery.com Inc. (LTRY) announced today that it is in the early stages of development for a platform to operate the lottery, sports betting, sweepstakes, and other forms of online gaming.

The multi-year project, called Project Nexus, is a component of the company's strategy to leverage blockchain-based technology.

Shares of LTRY declined 2.23% to $15.35 as of Monday at 10:54 am.

What does this mean for Lottery.com?

Lottery.com's new project is significant as it will allow the company to incorporate blockchain-based elements that will provide improved transparency and enhanced security for every game it offers.

Once integrated, players in foreign markets will be able to utilize crypto or fiat payments to play games.

“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, CEO and Board Chair of Lottery.com.

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.

Short-Term Technical Rank - 98

LTRY has a Short-Term Technical Rank of 98. Find out what this means to you and get the rest of the rankings on LTRY!

Trident Acquisitions Corp is a blank check company. The firm intends to focus its search on target businesses operating in oil and gas or other natural resources companies in Eastern Europe.

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