Smart Contact-Based Gaming Platform Kibo Lotto Launched in Ethereum Test Network

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by Tatsiana Yablonskaya · 3 min read

Thousands of partners from all over the world supported Kibo project to realize the idea of decentralized lotto platform.

Kibo, the first smart contact-based gaming Ethereum platform in the world, offers a new level of transparency in the gaming industry. The thing is that Kibo has introduced the blockchain technology into the sphere to make lotto playing available from any part of the world.

The new generation platform unites more than 6000 independent lotto offices worldwide providing free access to gaming experience for everyone.

In September 2016, Kibo team published the Whitepaper introducing its idea of decentralized lotto platform based on Ethereum smart contracts. The team aims to address main drawbacks of this market making gaming industry convenient both for players and affiliate partners via which it gets 80% of all its users today. In fact, KIBO enables launching one’s own lotto with unique advantages, terms and profits guaranteed by a smart contract. It is obviously a dream of any affiliate partner.

The idea of applying smart contracts to the gaming sphere is really interesting since they can secure not only the transparency of all transactions conducted on the platform, but also ensure 100% fair drawings. Nowadays, fairness of drawings serves a main advantage at the market with a volume of more than 500 bln dollars.

Affiliate partners face the main problem in any gaming resource – change in the conditions of accrual of commission fee for players attracted after the work is done, or even their cutoff for breach of any rules of cooperation.

In order to attract more users to the platform, Kibo conducted ICO in October 2016 and attracted more than 3.5 mln dollars and 6,000 people from more than 50 countries of the world to become owners of the platforms.

The funds attracted were necessary for the implementation of a unique marketing strategy aimed at quick launch of Kibo at the international stage. The prize fund and promotion unprecedented in its size even among the biggest international lotteries is formed. The funds are now held in the open wallet and the sum makes up 20 mln dollars due to the growth of ETH rate.

Since today KIBO branches have partners from more than 50 countries of the world and the start is going to be very interesting.

The Kibo platform has recently been launched in the test net Ropsten. The company has received 2000 applications for participation in the closed beta testing, which proves once again that those who joined Kibo at the ICO stage are really supportive and eager to take part in the platform development.

“We thank you once again for the interest that you have shown in the platform testing and we are hoping for your active participation in this process. We are convinced that it is only through joint efforts that we will be able to create a high-quality product and get it ready for a flying start on a global scale. It is thousands of our partners supporting the Kibo project all around the world that form the main driving force which beyond doubt is bound to make Kibo the first genuinely global game platform based on Ethereum smart contracts”, the Kibo team says.

It is possible that Kibo will be opened for 5,000 users waiting for the platform launch this summer.

Blockchain News, News
Tatsiana Yablonskaya

Taking strong interest in blockchain, cryptocurrencies, and IoT, Tatsiana Yablonskaya got deep understanding of the emerging techs believing in their potential to drive the future.