[Blockchain Today Reporter Ji-Hye Han] GINI WORLD challenged the lottery-type game business, which was regarded as the exclusive property of each national government. It was sublimated into a global lottery-type game by introducing blockchain technology.
Genie adopted participant-led donation and sharing as a basic distribution method. The company announced that it is pursuing an ecosystem created by’GINI’ and participants.
The world is changing rapidly, and the past decade has been a period of rapid growth for platform companies. In the next decade, it is expected that a sharing platform that participates and shares profits will grow rather than a winner-take-all. With the advent of the Fourth Industrial Revolution, paper has disappeared from our daily lives such as media, distribution, finance, transportation, and logistics, and has been transferred to smartphones, but lotteries are still traded on paper and cards are not used.
To compensate for this, Genie World can replace paper lottery, and has launched a block-chain lottery-type game’Genie’ with characteristics and trends of the times that transcend national boundaries.
Genie is operated based on a blockchain that has been verified for transparency and reliability. After planning and development over the past one year, it acquired the world’s first blockchain game license from Curacao, the Netherlands, on April 30, 2020.
Lottery is operated in all countries around the world. ‘Genie’ aims to become a game that can lead change in a market that grows 8-10% every year. Currently, the platform beta service is in progress, and it is being promoted to enable rapid expansion after the corona, targeting Southeast Asia such as China, Vietnam, Malaysia, Thailand, and the Philippines.
Gni World has two tokens: GINI TOKEN for game participation and LAMP TOKEN / LPT for investment cryptocurrency. On October 31, 2020, LAMP TOKEN was listed on Poblegate, the 3rd largest exchange in domestic trading volume, for 6 won, and recently, active trading is taking place in the 30 won range.
As soon as Genie enters China, it is scheduled to be listed on the Chinese Exchange, Vietnam, and the Vietnam Exchange, which will lead to an increase in value.
In addition, in the annual global lottery market worth about 450 trillion won, the new concept game sharing protocol model will make use of the strengths to achieve a market share of 1% in 2021, and the service will be deployed in more than 50 countries.
In terms of form, the Genie game is seen as a lottery method, but it secures transparency based on blockchain technology, and the most attractive thing is that most of the fundraising money is distributed among participants and to donations designated by participants.
An official from Genie said, “We hope to create an ecosystem of sharing wealth in which 50% of the donations that users participate in are paid as winnings and 42% are divided by profits.”
contact@blockcast.cc
