Quanta acquires stake in Nigeria Lottery ILGL

AdobeStock 139280141 1Naija Lottery to introduce blockchain lottery, pioneer Quanta as new investor. (Image source: 139280141/AdobeStock)Quanta, a blockchain lottery pioneer, has signed a contract to acquire a stake in International Lottery and Gaming Limited (ILGL)

Nigerian company ILGL, also known as Naija Lottery, and Quanta have concluded the world's first deal to see a blockchain company acquire a traditional lottery company.

Kostas Farris, Group CTO of Quanta, said, "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," he added.

Charbel Saadeh, managing director of Naija Lottery, commented, "ILGL has provided popular and entertaining games to the Nigerian players; we are very excited to collaborate with Quanta to create an even more compelling experience to optimise lottery playing for the 200mn Nigerian market."

The Nigerian lottery industry is a major source of wealth distribution in the country, while the role of cryptocurrencies continues to attract national-level attention.

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