London, UK, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Alcazar, a blockchain project that gives users the chance to win luxury goods in virtual raffles, has outlined its ambitious plans for the rest of the year.
The venture, which is built around a state-of-the-art decentralized application (dApp), will hold multiple raffles each week in 2023, with participants able to win high-end commodities such as Rolex timepieces, sports cars, premium NFTs, and bumper cash prizes.
While 97% of funds raised through purchases will be provisioned for buying high-quality prizes (including chart buys of other major communities), 3% will enter a transparent vault used to regularly buyback and burn the platform’s native $ALCAZAR token. Holders of such tokens can stake them to earn a generous APY, and also stake Alcazar NFTs to win rewards.
All raffles have a predetermined ticket threshold, after which an animation appears on screen to declare a winner. Fully audited by an independent party, the Alcazar dApp selects winners at random. As with other lottery games, the more tickets users hold, the better their prospects. Matching ticket numbers will be announced on Alcazar’s website and social channels.
As well as having the opportunity to participate in raffles, the Alcazar community will get to have a say on the prizes themselves. If a prizewinner decides that they would rather receive cash than, say, a Lamborghini Aventador, the vehicle will be raffled off and a cash alternative paid.
Following the launch of the official Alcazar dApp, the platform plans to build a sufficient user base to host a raffle with a $1,000,000 USDT prize. There are also plans to launch a live casino and sports betting in Q2, and a Powerball/Lottery with a 15% revenue burn mechanism shortly thereafter.
Ahead of its landmark $1m raffle, Alcazar will regularly run giveaways on its Telegram and Twitter channels, including free tickets for subsequent contests and highly coveted NFTs.
The decentralized application at the heart of the Alcazar ecosystem is currently undergoing testing, and behind the scenes, the team is hard at work on widening access to its native token. At present, $ALCAZAR is available on CEXs such as Bitmart, Digifinex, Coinstiger, Coinsbit, and Azbit, with additional trading platforms expected to be announced soon.
An official Alcazar NFT collection recently debuted on leading marketplace Shido Market, with Shido’s Multi-Chain DeFi Aggregator Shido DEX also integrated into the platform.
Alcazar users can expect to see a new-look website in Q1, while later in the year a points reward system may be introduced to reward dApp users for spending. The company will also pursue sponsorship and charity opportunities in the latter part of 2023.
Alcazar is building the bridge of luck between the real world and crypto world. The fully-audited decentralized application gives users the opportunity to win luxury goods in virtual raffles, and also to invest in and stake its native $ALCAZAR token to earn rewards. Registered in the United Kingdom, Alcazar was created by a highly experienced and transparent team committed to improving utility in the crypto sector.
Media contact: James Lydon, James@Alcazartoken.io