If you’re looking for an innovative NFT experience, The Doge Project wants to reunite the “good bois” of the crypto and NFT markets. Since their motto is “Do Only Good Every Day,” this team’s debut Decentralized Lottery allows NFT holders to win weekly prizes, donate to charity, and more.
Their limited-edition NFT tickets drop on April 29th, so let’s learn about this exciting project ASAP!
What is the Doge Project?
In short, The Doge Project is a community-led NFT project aiming to honor its holders and give back to the world, starting with members from the Doge Project whitelist. In fact, the term “Doge” stands for “Do Only Good Everyday” – the core goal of the founding team.
The project’s storyline begins when the Doge Kingdom sees the perils going on on earth. The crypto kingdoms are taking advantage of the people of Earth, and the mighty Winter Bear is terrorizing them. This exciting concept will be built into the project’s future decentralized gaming. Further, it will be available via VR and in the metaverse once the Doge Project’s future Decentralized Arcade is fully developed.
The first step, though? Launching a Decentralized Lottery. This new Web3 innovation will bring value to investors, engage users, and offer weekly chances at winning the jackpot. Can you imagine taking part in a lottery with a potential of $70K+ prize pool every week? That’s what The Doge Project’s Decentralized Lottery offers.
Of course, the project team wants to bring more value to its community. It will begin by releasing a FREE MINT to early adopters. This collection of 1,669 unique PFP NFTs called “Decentra”. The project features a time traveling character from the Doge Project’s lore, who is sent from the future to ensure the Doge Project is successful in its mission. The journey continues with the project team’s first paid collection called “Doge is the New Gold”. This consists of 6,969 NFT tokens. Additionally, each digital asset represents the number of users able to join the lottery. As an NFT holder you get exclusive access to the Decentralized Lottery, which they have dubbed the “DeLot”. Through this, you’ll also get future airdrops, free mints, and access to the project’s upcoming launches, including Metaverse properties and playable avatars!
How Does the NFT Lottery Work?
Firstly, users have to mint an NFT token to gain access to the Decentralized Lottery application. The collection will drop on April 29th, and there will be three whitelist rarities as follows:
Getting in early gives you the best price, with prices increasing following each mint. Each week, the Doge Project will host a Decentralized Lottery where all 6,969 holders are able to participate.
To clarify, weekly entry into the Decentralized Lottery costs 15 $USDC per ticket. Holders can buy as many as 10 tickets. Moreover, each ticket consists of a number between 1 and 6969. This is because the Doge Project team wanted to ensure that odds remain as transparent and favorable as possible, with only 6969 tickets available each week.
When you buy a lottery ticket, you are given a randomly generated number. Doge Project partnered with Chainlinks and integrated Chainlink’s Verifiable Random Function (VRF) and Chainlink’s Keepers to allow the NFT holders to have access to a tamper-proof and auditable source of randomness when selecting winners. Therefore, unlike the traditional lottery IRL, this process gives everybody a fair shot at the grand prize. Further, it ensures trust, transparency, and reliability. So, if your number is drawn during the week’s draw, then the jackpot prize is seamlessly and automatically transferred directly into your wallet. No muss, no fuss.
Of the 15 $USDC that is used to purchase a ticket, 70% goes into the Jackpot prize pool. Another 20% goes to a charity pool, allocated with the NFT holders. Finally, 10% goes back to the Doge Project to further build and establish the future.
Isn’t it exciting? This is just the beginning, as the project roadmap revealed many other amazing drops and a bright future!
What About the Project Roadmap?
According to their official website, The Doge Project will release two more NFT collections this year alone: House of Doge and House of Shiba (both Game of Thrones-themed, bringing a fierceness to the project). These collections will each increase the exclusivity of the Decentralized lottery. It will do this by adding 6969 more potential entrants each week, and increasing the amount of tickets that can be bought each week. So, with each collection drop, the potential prize pool increases by around $70k! Meanwhile, the team will also start developing their arcade and metaverse experiences for the community, which promises to be exciting and bring incredible value.
In the long run, project founders also aim to acquire new projects and scale their own community-first innovations. To help the project further succeed they have hired an expert NFT Marketing team. This project is ambitious and willing to stay in this space for the foreseeable future.
If you’re ready to join The Doge Project and its growing community, make sure to follow the project via Twitter and join the Discord server. Meanwhile, prepare your digital wallet for the April 29th NFT drop on their website, and let the adventure begin! Dont miss out on the early adopters price or the promised free mints!