GG World lottery ICO Review, Rating and Complete Analysis

GG World lottery ICO Review, Rating and Complete Analysis

Overview

With the global lottery industry generating over $279 billion in ticket sales in 2017 as per the World Lottery Association, the market in focus here has a lot of potential. A new ICO in the market that is already part of this industry is targeting the pain-points of this old-fashioned industry including limited outlets, the operation of physical hardware, and is heavily protected from competition. GG World Lottery is the ICO that is planning to conquer the lottery world around the globe by providing a seamless bridge between the old-school lottery world and the nascent blockchain technology.

GG World Lottery: Fully licensed, government-regulated, global & national online lotteries

GG World Lottery is the first government-regulated national as well as global online lottery organization. It is planning to transform the traditional lottery system by introducing blockchain-based transparency and innovative True Random Number generator technology.

This company has also been responsible for creating the unique white label lottery software. The software provides a ticket-purchase courier service for some of the most popular lotteries in the world.

It has already acquired 17 licenses in 12 countries while having a network of 600 million people. The idea is to globalize the lottery industry with this platform and GG World TV Show, the first global TV show with lottery players from around the planet.

  • A Detailed Whitepaper

GG World Lottery provides a detailed information through its explanatory whitepaper. With a professional feel to this document, it’s easy to capture the different facets of the project.

The company has a working prototype for its investors to understand the projects’ feasibility and viability.

As for the funds’ allocation, the biggest chunk that is 25 percent of the crowdsale funds goes to marketing. 20 percent of the funds will be for covering staff costs. Development, technical, and certification costs are allotted 15 percent while 5 percent is for retailer acquisition. Professional services and first draws prize coverage gets 10 percent of the funds each.

Further funds allocation is 5 percent for travel and subsistence, 4 percent will cover legal costs, and 2 percent goes for premises. 1 percent goes towards four categories viz. Training, entertainment, communication, and general operating costs.

  • Experienced Team

GG World Lottery has five members listed on its team that includes founder, CEO, CTO, software engineer, and tech expert. Every member has their respective LinkedIn profiles attached.

Mark Hutchinson CEO and President, A 35-year-old veteran of the global lottery industry, he has also been director of the Kansas Lottery. Hutchinson is a founding member of the Lotto America startup, the world’s largest lottery game later named Powerball.

Wojciech Łysak Founder, Łysak has over 15 years of experience in online marketing and online gaming entertainment. He has worked with numerous successful startups while having the expertise in B2B relationships and connections as well.

Tomasz Kłapsia CTO, With over a decade of experience in different aspects of technical development in the Internet and gaming industries. Kłapsia is the CTO and project manager at GG World Lottery along with working as the lead developer of White Lotto software. He also has experience in developing blockchain applications, mobile applications, and video games.

  • Business Model

The token of GG World Lottery ICO is GGCOIN (GGC) that will allow all the token holders to receive a lifetime revenue share that is based on every GG world lottery jackpot prize win. The amount of these dividends is based on the total sales of GGCOIN. This means the more the tokens, the more the dividend will be paid out. They also shared that the unused tokens will be burned.

  • Backing Technology: Ethereum-based Blockchain

Based on the popular and most commonly used Ethereum blockchain, the project provides a clear number specification for a potential investor to dive in. It specifies $100 as the minimum contribution while having a hard cap of 500000000 USD.

The company has about 6 advisors listed on their website that comes from different sectors primarily tech and media.

  • Crypto-Sale Resiliency

The project is incorporated in the British Virgin Islands with numerous countries listed as restricted areas viz. USA, UK, the Netherlands, Singapore, Switzerland, China, Germany, Israel, Canada, Liechtenstein, South Korea, Thailand, Spain, Malta, and United Arab Emirates. Moreover, participants are required to submit their KYC documents to fulfil its legality measures.

Token Distribution

The company provides a clear picture of the distribution of tokens with a total supply of 500 million GGC tokens. Out of this, 75 percent is for crowdsale while 20 percent goes to the team and general bounty. The remaining 5 percent is allocated to the affiliate system.

Security is one of the major concern of the GG World Lottery as the traditional lottery system has physical and electronic security concerns while restricting the competition. The company has announced bounty program to ensure bugs are identified and security is maintained in its blockchain platform.

  • Community Acceptance

The project team is quite active about their project on social media as it provides constant development information to its investors. They are available on a number of platforms viz. Twitter, Telegram, GitHub, Medium, Bitcoin Talk, Facebook, YouTube, LinkedIn, and mailing list. It has over 5k followers on Facebook, about 2,200 subscribers on YouTube, close to 2,900 followers on Twitter, and over 3,600 members on Telegram.

  • Roadmap

Stage of Project:

  • The project presents a working and feasible roadmap which starts in Quarter 1 of this year with the launch of WhiteLotto and LottoPark along with the company formation. Right now the project is working on its ICO part that goes live at the end of November 2018.
  • 2019 would primarily involve the end of ICO and token market introduction. 2020 will be seeing the development in the form of GG World Lottery public release on government-regulated markets, tickets available for purchase, markets expansion, and GG World Show.

A note to investors

A billion dollar and old-school industry is the target market of GG World lottery ICO with a focus on transparency, security, and technical aspects. The future aspirations with global expansion talks a big game for the company.

GG World lottery already has a working prototype and experienced professionals. It has further provided all the information with an incentivized revenue model of its GGC token that can further draw in the investors and users. However, the implementation and progress after the launch will better show how exactly the old-school Lottery industry takes up and merges with the still nascent blockchain technology.

Methodology

To rate an ICO, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:

  • Whitepaper – Availability of code or prototype, the breakdown of funds, wallet for crowdsale
  • Team Profile – Team’s strength and reputation
  • Business Model – Problem solved, purpose & utility of the token and the economic model
  • Backing Technology – Blockchain infrastructure, clarity of terms & conditions and token software
  • Crypto-sale Resilience – Incorporation, token distribution, legal risks and security aspect
  • Community Acceptance – Clarity & frequency of communication and social media presence

By asking the right questions, we maintain the integrity and viability of our ICO review while following a rating method that is based on the criticality of a particular factor. For instance, elements like token utility and funds breakdown have been given the highest importance while the team members’ reputation and plan to attract a user base are of medium criticality.

We have a team of robust professionals who rate the ICO projects in a completely unbiased manner.

Caution: Coingape publishes the ICO project reviews only for the information purpose. It is not an invitation for investment. When making investment decisions, conduct your individual assessment and consult with an advisor.

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Sagar Saxena 161 Articles

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. Reach out to him at [email protected]

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