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Luckchemy ICO – Provably Fair Online Gaming Platform

Samantha Mitchell

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luckchemy

About Luckchemy Company

Luckchemy is an online gambling platform that uses Blockchain technology and offchain Cryptocurrency. The company claims its platform to be scalable and provably fair. The platform will accommodate different casino products and a monthly lottery. It will be developed in such a way that it will interact easily with different entities among third parties.

Blockchain interactions at the company are only used when necessary. Off-chain cryptography is used along with numerous technologies to maintain the platform’s provable fairness, maximize scalability, and enhance user experience.

Luckchemy understands the importance of having a strategy to become established. The company is working with advisors who are authoritative in the gaming industry. These advisors will play a great role in introducing the company to the most successful brands.

Luckchemy-ICO

Token

Token: LUK
Token Standard: ERC20
ICO Start Date: 22nd May 2018
ICO End Date: 20th July 2018
Rate of Exchange: 12,500 LUK = 1 ETH
Soft Cap = 2,000 ETH
Hard Cap = 45,360 ETH
Tokens for sale = 700,000,000
Total Cap = 1,000,000,000

Website | Whitepaper | Twitter

How Luckchemy’s Platform Functions

1. Own games

Classic Powerball – It is expected to attract more people to Luckchemy in a brief period as it has a 99% payout to prize funds.

Real Money Scratchers – It provides players a chance to win instant prizes. Moreover, it has a jackpot thereby making the game attractive.

Free-to-Play Sweepstakes – It gives players a chance to win money and real prizes for free. The game relies on its ad monetization.

Luckchemy Buyers will get a chance to benefit from Holder’s Draw. A few randomly selected LUK holders will get a chance to win extra prizes on a monthly.

More games will be introduced with time. They will include slots, bets, and dice among others.

2. 3rd parties

The company will work with leading partners in the industry to ensure that users have a chance to play different games powered by LUK tokens. The platform will be open to other game developers. This will give them an opportunity to reach more people and compete with each other.

3. White label

White label products will give prominent brands to use the Luckchemy’s games using their brand names. The company will assist these famous brands in all the steps such as development and payment process, among others.

How Luckchemy Will Overcome Challenges In The Gaming Industry

• The company has created iGame products and used Blockchain tech and cryptography to assist others to join the gambling industry.
• To ensure compliance with the law, the company will get licenses for the main trusted areas.
• Choose a payment method that allows an easy and secure way of depositing and collecting money.
• Get a license preferably from the iGaming provider.
• Developing a website is expensive and time-consuming. Due to the high risk of managing a website, the company provides its clients with the white label.
• The company has a system that gives clients control of the entire process. The firm has experts in technology, marketing, and designing among other areas that are of great help to the customers.
• LUK token is the payment method used.

Those who choose to use white label stand comes with many benefits. Although one may have a gaming website, aggressive marketing is important. Even after spending time and money promoting a website, you may fail to attract a big name. White label provides an opportunity to partner with marketing experts and achieves your goals faster with less effort.

Luckchemy Token Uniqueness

To ensure that each token is befitting the current and future features, the system allocates each a distinctive identifier. Transactions on the platform are virtual. A buyer on the system loses nothing by making small and regular payments.

Benefits That Luckchemy Members Will Enjoy

LUK will have high demand, as the firm will ensure that all transactions are done in the token. After the coin sale, the company will state the Cryptocurrency exchanges the token will be available.

Here are some of the benefits associated with the token:
• The buyers of the tokens will have an opportunity to store them for Holder’s Draw and thereby enhance their winning chances. Furthermore, they can use them in Feedback Polls.
• LUK tokens will give users a chance to play games on the platform. Those with the tokens are automatically included in the Holder’s Draw lottery. You can trade-off the currency with ETH.
• Third parties will use the tokens to access the company’s API immediately it is released. This will give the users access to more information and get a chance to access the company’s games on different platforms. The exchange of the toke will be introduced later.
• As far as White Label is concerned, the tokens will give access to the account and API to obtain information on using the games under your label and customizing solutions.

Liquidity Of The Token

• When on the platform, the only thing you need is to play games. You can also reserve the token to be used in Holders’ Draw or Feedback Polls.
• LUK token is backed by assets such as bankroll.
• If you are a third party, you need the tokens to access the company’s technical solutions and use them on your platforms.

Some Of The Luckchemy Lottery Products

Luckchemy runs legally compliant games. The company’s Sweepstakes games can be played anywhere around the world.

Daily Lottery – Magnum Opus

daily lotteryThis game allows participants to select five numbers from 1-47 and one from 1-24. The winning combination of 6 numbers is then selected. With a 99% return to the participants, the game provides the best returns in the market.

Users will have a chance to buy the lottery tickets with LUK/ETH and BTC/FIAT. The prizes will be given in ETH, as it has an adequate liquidity and guarantees LUK’s price stability. In the future, however, prizes will be given in LUK, as the network will have the capacity to support large payouts.

Scratch Cards

Scratch cards are characterized by instant wins, hence they are popular among gamblers. This is the reason for the inclusion of this game into the Luckchemy’s MVP. The use of Blockchain technology in instant games such as slots and dice makes them unreliable because of the tech’s speed limitation. However, Luckchemy has developed a real-time, expandable, and off-chain logic to enhance such games.

Sweepstakes (Free-to-play)

The revenue for this game is generated through ad monetization and players can win real prizes. The company will soon add in-app purchases to boost revenue. Sweepstakes have low regulatory requirements, thereby providing an opportunity to advertise the company’s products in different regions.

New Games

Developing new games is critical, as it will help the company to maintain popularity. New games will be developed based on the Feedback Poll feature and statistics in the gambling industry. Some of the games that will be introduced in the near future include sports betting games, slots, among other online and table games.

The Good Traits Of Luckchemy Token

• Investors will have a chance to learn how Luckchemy works even during the ICO process, as it will be possible to try the token.
• Gamers have a reason to smile, as Luckchemy will work with other game providers and platforms.
• There will be a referral campaign to enable people to earn tokens by inviting their friends.

Luckchemy Token Rule

Here are some rules of this token:

• 99% of the money raised through ticket sale will be assigned to the prize pool.
• Faking of winning numbers or lottery tickets will not be possible. This is because of the use of smart contracts and transparency in all the procedure.
• The lottery uses ETH Blockchain.
• To hamper unintentional breach of the law, KYC screening will be undertaken.

More Details On The Token

LUK tokens have been developed for long-term use and as a form of value to players and its holders. 70% of the tokens will be distributed through sales and 15% through a lottery fund. Sales through private placement and partners will be 8.85% and 6.15% respectively. The sale will not go beyond 1,000,000,000 LUK and will be preceded by the burning of unsold and not-for-sale amount tokens.

LUK is being raised with the aim of funding the lottery and marketing among other activities. Here is how the funds will be distributed. Lottery fund will take 40$ of the funds. Marketing will take 30%, while partners, product development, and operations will take 10% each.

The Team

TeamThe company is headed by Alex Tatarcuk, who is the CEO and co-founder. Alex Topchience is the COO and co-founder. Mark Beck, with over ten years experience in the gambling industry in various positions and markets, is the chief marketing officer. Some of the advisors to the business include Chris Grove, Todd Eilers, and Masa Saganuma among others.

Luckchemy is working with partners like Krowd Mentor as the strategic advisory partner and Eilers & Krejcik Gaming as the marketing strategy advisor. All the games will be available on Mr. Bet’s platform. Bevilacqua is the legal advisor.

Conclusion

Luckchemy will revolutionize the gambling industry by using technology to develop and create engaging and memorable experiences to players on the platform.

Bitcointalk user: MarkSinn

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