World first: blockchain startup Quanta acquires stake in Naija Lottery
Transparency-focused blockchain solution company Quanta signed contracts today to purchase a stake in Nigeria’s International Lottery and Gaming Limited, the first time a blockchain company has acquired part of a traditional lottery service.
Headquartered in Lagos, Nigeria, International Lottery and Gaming Limited, which trades under the name Naija Lottery, has a Grade A National License from the National Lottery Regulatory Commission to offer and operate lottery games throughout Nigeria.
Quanta is the world’s fully-licensed blockchain lottery operator. The company uses its own cryptocurrency QNTU, which is traded on five crypto exchanges worldwide (Lykke, HitBTC, Bit-Z, Cryptopia and BitoPro) and allows the Quanta to ensure globally available lotteries are fairly conducted, due to the traceability of the blockchain digital ledger.
Kostas Farris, Group CTO of Quanta said today that This acquisition will usher in an era when innovation compliments tradition, injecting the power of blockchain technology into the lottery business. We are confident that we can make blockchain popular and this acquisition represents a significant base for Quanta to target other emerging markets in Africa and other Continents”.
“ILGL has provided popular and entertaining games to the Nigerian players”, said Managing Director of Naija Lottery, Charbel Saadeh. “We are very excited to collaborate with Quanta to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market."