Much of the world is in a bad place. Starvation is rampant, animals are going extinct, and there are disease outbreaks and natural disasters to contend with. People want to help, but often don’t know how. People also love to play the lottery. Lotteries represent an industry worth over $70 billion in the United States.
Unfortunately, changes around the taxing of charitable donations are happening. In the past, those that donated to charity would usually receive some form of tax cut. With this gone, those donating will be less inclined to do so. This means an estimated $16-24 billion worth of donations will be lost yearly.
On the surface, the concept is simple enough – Gamify charity. To encourage people to take part in charitable donations, Lottery.com has created various lotteries and sweepstakes that serve as charity platforms. By gamifying charity, they are looking to re-direct funds from an isolated gambling industry, and use them for world betterment.
Although those that take part in charitable giving may not receive a tax benefit, by donating they can be entered in a lottery. By structuring their platform in such a way, they are appealing to a variety of people.
In order to fund the development of the platform and expand product services, Lottery.com needs to raise capital. Being a forward thinking company, they have turned to blockchain. Through the use of blockchain the company hosted an STO in an effort to raise funds.
By taking part in their STO, investors were able to, “participate in revenue derived by its gaming platform for charitable fundraising.”
After a successful launch on Securitize.io, lottery.com has gone on to raise additional funds through the BnkToTheFuture platform, totally over $60 million. A fantastic start to achieving their goal.
They have the idea, the team, and now they have the funding. It is refreshing to see a company put a positive spin on an industry such as gambling. Instead of distancing themselves from it, they have embraced it, and developed a platform to use it for good. For those interested in the platform, Lottery.com currently has mobile apps available for both IOS and Android systems.
Attention. There is a risk that unverified members are not actually members of the team
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