DoubleJack launches ICO to enable users worldwide to access €250 million lottery
DoubleJack’s ICO will also offer a digitized stakeholding utility asset to users, building the foundations for the company’s philanthropic, igaming lottery platform
DoubleJack, a global fintech startup, launches its Tron-based DJACK utility token, designed to give users, who are normally geo-blocked by local barriers, access to its lottery platform and its associated benefits. The funds from the utility token sale will be used to build its insurance program and sell insurance-linked securities (ILS), which will enable the company to offer a much larger jackpot.
Around the world, a number of countries have created geoblocking parameters to prevent their local populations from partaking in igaming, a market volume of nearly one trillion USD by 2025. Most igaming and lottery programs are not philanthropic in nature and do not offer real stakeholder opportunities. In the spirit of improving upon the absences of these elements in the industry, DoubleJack is changing the paradigm with its utility token. In addition to granting buyers access to the platform to buy lottery tickets, the token will afford buyers unique opportunities immediately upon purchase:
Influencer income: Token holders will be able to earn a passive income by becoming “influencers” and sending referral QR code links to other people. For every 20 people who receive a referral code, the influencer can earn a passive income that ranges from as low as $100 to as high as $6 million, depending on the influencer’s DoubleJack.Club status. Passive incomes are distributed from one-third of the lottery’s total jackpot.
Philanthropic opportunities: Influencers are encouraged to develop their own charitable initiatives and contribute to local charities with the passive income they receive.
Wealth-management option: Winners of the lottery jackpot will be offered the opportunity to work with Turner Little wealth management firm to help them reach their personal and/or business objectives.
In order to build its philanthropic lottery ecosystem, DoubleJack is using the utility token sale to accrue the funds to build its own captive insurance company and offer insurance-linked securities to institutional and accredited investors.
“We are proud to release our utility token to users all around the world, breaking down geoblocking barriers and empowering everyone to earn a passive income and become involved in charitable endeavours,” stated DoubleJack’s founding team. “As entrepreneurs passionate about paying it forward and building an ecosystem built on altruistic principles, the ICO is a massive step toward realizing our vision for a philanthropic-driven, global lottery platform.”
DoubleJack launched its DoubleJack.Club influencer program in December 2020.
Source: European Gaming