The multi-billion dollar igaming industry grew exponentially over the last few years, but geo-blocking parameters have restricted several users to partake in igaming. Gone are the days when the sector was constrained to traditional dos and don’ts. With blockchain in the picture, igaming industry is now at a pivotal stage to enable millions more to play.
Thanks to DoubleJack, a global financial technology startup, access to igaming is now a possibility for millions more. And their mission is all about philanthropy and insurance-building.
DoubleJack launched its Tron-based utility token “DJACK,” which is essentially designed to offer users, who are geo-blocked by regional barriers, access to its lottery platform and its associated benefits. The funds from the utility token DJACK sale will be utilized to develop its insurance program and sell insurance-linked securities (ILS). This, in turn, will enable the firm to offer a much larger jackpot.
How is DoubleJack changing the paradigm with the help of its utility token DJACK?
The startup does not just grant buyers access to its platform to help them purchase lottery tickets. But the token will also afford buyers several unique opportunities immediately upon purchase that have never been imagined before. Here are some of the ways in which DoubleJack aims to bring in the much-needed changes in the industry:
Influencer income: This is a passive income wherein the DJACK token holders will be able to earn by becoming influencers and sending referral QR code links to other people. The official document briefed that for every 20 people who receive a referral code, the influencer can earn a passive income that ranges from as low as $100 to as high as $6 million. The earning is dependent on the influencer’s DoubleJack.Club status. These incomes, which are essentially passive in nature, are distributed from one-third of the lottery’s total jackpot.
Philanthropic opportunities: This is where the philanthropy element emerges. Influencers are urged to develop their own charitable initiatives and donate to local charities with the passive income they receive.
Wealth-management option: Winners of the lottery jackpot will be provided with the opportunity to work with Turner Little wealth management firm in a bid to assist the winners to not just reach their personal but also their business objectives.
Breaking down geoblocking barriers and empowering everyone to rake in a passive income and become involved in charitable endeavours is what DoubleJack aspires to bring to the table. In this pursuit to bolster its philanthropic lottery ecosystem, DoubleJack is using the utility token sale to accumulate the funds to build its own captive insurance company and provide insurance-linked securities to institutional and accredited investors.
The influencer program, which was launched at the end of 2020, is anticipated to be a huge success.