Quanta investing in Nigerian lottery firm ILGL

Blockchain innovator, Quanta, has announced the signing of agreements that are to see it purchase a stake in Nigerian firm, International Lottery and Gaming Limited (ILGL), in hopes of establishing the world’s first blockchain-focused lottery platform.

Naija Lottery development:

The Isle of Man-based developer used an official press release to detail that ILGL is the privately-owned company behind Nigeria’s Naija Lottery and that it will now endeavor to further strengthen this service throughout Africa via the application of blockchain technologies.

History-making purchase:

Kostas Farris, Chief Technology Officer for Quanta, declared that ILGL holds a ‘Grade A national license’ from Nigeria’s National Lottery Regulatory Commission and that his firm’s acquisition of a stake in the Lagos-headquartered concern represents the first time that a blockchain-facing enterprise has ever invested in a traditional lottery operator.

Farris’ statement read…

“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.”

Aiming for a ‘compelling experience’:

For his part, Charbel Saadeh, Naija Lottery Managing Director for ILGL, stated that his firm commenced lottery operations in March and has since gone on to contribute significant funds to many local charities and good causes.

Saadeh’s statement read…

“ILGL has provided popular and entertaining games to the Nigerian players and 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.”