Quanta makes history with inaugural lottery draw
The world’s first licensed blockchain lottery operator, Quanta, made history on Friday when it held its inaugural Quanta Prize Draw for players on the Isle of Man.
In total, 67 tickets were purchased for the draw with an incredible 19 prizes won.
The Quanta Prize Draw takes place every Friday at Midday with a minimum of 18 guaranteed prizes.
The platform operates using Ethereum, a digital cryptocurrency, which is used to purchase Quanta Game Tokens (QGT).
QGT costs the equivalent of £1 (GBP) each with purchases limited to 30 per transaction, subject to the player having passed the necessary KYC checks. Players can enter the draw as many times as they like!
The Quanta Prize Draw operates at odds of a 1 in 16 chance of scooping the week’s jackpot prize, which is the equivalent of GBP £10,000 – there was no jackpot winner for the first draw.
Kostas Farris, Chief Technical Officer and Director at Quanta, said: “We are thrilled to have made history by becoming the first licensed blockchain lottery operator to hold a draw.
“The response to the draw has been incredible and we are delighted to have handed out 19 prizes to our players.
“From here, we believe the Quanta Prize Draw will continue to grow in popularity with players on the Isle of Man and beyond as we launch in additional markets.”
Quanta uses a state-of-the-art blockchain platform, smart contracts and an innovative random number generator to manage ticket purchases and decide the outcome of draws.
The operator is licensed by the Isle of Man Gambling Supervision, one of the most established and trusted iGaming regulators.
Lyle Wraxall, CEO of Digital Isle of Man, said: “Congratulations to the entire Quanta Lottery team for holding the first ever licensed blockchain lottery draw.
“This is an incredible achievement and is yet further proof that the Isle of Man is a world-leader when it comes to supporting and nurturing blockchain businesses.
“I know this is just the start for Quanta, and look forward to watching them grow the businesses into a global success from their base in the Isle of Man.”