ILGL, Quanta seal pact on blockchain investments
The International Lottery and Gaming Limited (ILGL), also known as Naija Lottery, has signed a pact with new investor, Quanta, to create a multi-million naira blockchain investment platform.
Besides, the deal between ILGL and Quanta recently signed, the world’s first licensed blockchain lottery, creates the first synergy between traditional and blockchain lottery platforms in the world.
Under the deal, Quanta and ILGL will combine forces to apply blockchain technology to revitalise the traditional lottery, and to act as a platform to further strengthen growth in African market.
Managing Director of Naija Lottery, Charbel Saadeh, said the partnership is a major development in the penetration of blockchain technology into traditional business models.
“Now is the time to build on the momentum of the traditional Nigerian lottery market. Together, we will continue to build a safe and trusted 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 optimise lottery playing for the 200-million Nigerian market,” Saadeh said.
ILGL is one of the largest gaming companies in Nigeria, and has been granted a Grade A National Licence from the National Lottery Regulatory Commission, to offer lottery games throughout Nigeria. Developed on the breakthrough Ethereum blockchain technology, Quanta transforms conventional lotteries for the better, and revolutionising the gaming industry.
Its blockchain-based lottery games are fully certified to ensure utmost trust and transparency for the players and the regulators.Chief Technology Officer (CTO), and Director at Quanta, Kostas Farris, said the partnership was a profound opportunity to bolster the rapidly-evolving lottery business. “We are confident that we can make blockchain lottery popular, and this partnership represents a significant base for Quanta to target other emerging markets centred in Africa,” Farris said.
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