Lottery.com Advances Project Nexus with Selection of Algorand to Power Blockchain-Based Gaming Platform
February 24 2022 - 7:00AM
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.”
About Lottery.com
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 http://www.lottery.com.
About Algorand
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 http://www.algorand.com.
Important Notice Regarding
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). All statements, other
than statements of present or historical fact included in this
press release, regarding Lottery.com’s strategy, future operations,
prospects, plans and objectives of management, including those
relating to the selection of Algorand, are forward-looking
statements. When used in this press release, the words “could,”
“should,” “will,” “may,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, Lottery.com disclaims any duty to update any
forward-looking statements, all of which are expressly qualified by
the statements in this section, to reflect events or circumstances
after the date of this press release. Lottery.com cautions you that
these forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of Lottery.com. In addition,
Lottery.com cautions you that the forward-looking statements
contained in this press release are subject to the following
factors: (i) the outcome of any legal proceedings that may be
instituted against Lottery.com; (ii) Lottery.com’s ability to
maintain effective internal controls over financial reporting,
including the remediation of identified material weaknesses in
internal control over financial reporting relating to segregation
of duties with respect to, and access controls to, its financial
record keeping system, and Lottery.com’s accounting staffing
levels; (iii) the effects of competition on Lottery.com’s future
business; (iv) risks related to Lottery.com’s dependence on its
intellectual property and the risk that Lottery.com’s technology
could have undetected defects or errors; (v) changes in applicable
laws or regulations; (vi) risks related to the COVID-19 pandemic
and its effect directly on Lottery.com and the economy generally;
(vii) risks relating to privacy and data protection laws, privacy
or data breaches, or the loss of data; (viii) the possibility that
Lottery.com may be adversely affected by other economic, business,
and/or competitive factors; (ix) the ability of Lottery.com to
achieve its strategic and growth objectives as stated or at all;
and (x) those factors discussed under the heading “Risk Factors” in
the Form S-1 filed by Lottery.com with the SEC on November 18,
2021, and the other documents filed, or to be filed, by Lottery.com
with the SEC. Should one or more of the risks or uncertainties
described in this press release materialize or should underlying
assumptions prove incorrect, actual results and plans could differ
materially from those expressed in any forward-looking statements.
Additional information concerning these and other factors that may
impact the operations and projections discussed herein can be found
in the reports that Lottery.com has filed and will file from time
to time with the SEC. These SEC filings are available publicly on
the SEC’s website at www.sec.gov.
Lottery.com Contact:
Matthew SchlarbVP, Investor Relations(512)
585-7789ir@lottery.com
or
Jody Burfening/Harriet FriedLHA Investor
Relations(212) 838-3777hfried@lhai.com
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