The first lottery business in the Metaverse just opened its doors, but the hype surrounding this innovative new idea has already reached its peak. In fact, it’s been compared to when people first got excited about the Metaverse itself, and now that it’s finally here, people are wondering if they should invest in it or not. But what makes this lottery business so special? Read on to find out!
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The Virtual Lottery Blockchain
Virtual reality is growing quickly, and it’s easy to imagine the day when you can walk down the street of a virtual world and see a Lottery stand that everyone can use. To understand how much money could be made in such a situation, let’s consider real-world statistics. Currently, lotteries make over $100 billion annually worldwide — that number is increasing every year.
How does it work?
Based on blockchain technology, all payments are secured by smart contracts and there is no way to cheat or use fraud. First of all, users have to have Meta Mask installed. Secondly, owners can withdraw their profits from a secure smart contract. There will be a smart contract that is designed to run random number generation that will determine the win/loss of a scratch card or who the winner of the lottery pull is.
After all that players can start buying tickets and try their luck.
Why would people play this game?
The biggest draw for the lottery is the jackpot. People want to win hundreds of millions of dollars and be financially set for life. While people do like having fun, they also want to win money, and the lottery gives them that opportunity to make their dreams come true. You’re never going to be the richest person in the world by winning another bracket challenge or getting promoted at work; if you want instant wealth, all it takes is buying a few lottery tickets. So why wouldn’t someone play?
Do you see the potential of investing in the first lottery business in the Metaverse worth the risk? The lottery in Second Life has been around for almost 9 years, and there are literally millions of users. With an average price per ticket of about $1.50, it could gross close to $1 million per month from that alone! This lottery product is what’s known as sticky because people keep coming back over and over again to purchase tickets. In our opinion, lotteries have massive potential in virtual worlds such as Second Life and Sansar. It will be a game-changer for those who do not have access to regular casinos or even online gambling sites. We hope we can help make a difference by bringing their favorite pastime into the Metaverse