The State of Colorado has partnered with Chainlink and other startups to help create new lottery games to entertain Coloradans. According to a recent announcement, the Colorado State Lottery has partnered with Chainlink, ETHDenver, and IGT on a hackathon, with the goal of creating new games to generate $1 billion in future revenues from its lottery.
The Colorado Lottery has created a GameJam Hackathon that is open to tech developers from Colorado and across the globe to participate. There are $17,500 in prizes available for grabs by 3 winners. There is a top prize of $10,000, with a second prize of $5,000 and a $2,500 third prize.
There is a separate, additional prize category sponsored by Chainlink and ETHDenver that will be awarded for games that both meet the original guidelines and are completed using Web3. On Web 3.0, applications run on top of decentralized networks and it allows peer-to-peer services, data ownership by users, and trustless guarantees. With the additional prizes, the 1st place takes $5,000, $2,500 for 2nd place, and $1,000 for 3rd place.
According to the announcement, this marks the Lottery’s first-ever public private partnership and hackathon. The state lottery hopes that the new innovative games will support it reach its $1 billion revenue goal to fund outdoor recreation, land conservation and schools in Colorado, along with its commitment to responsible gaming.
The opening ceremony of the hackathon kicked off yesterday with a virtual opening ceremony. Special guest speakers included Colorado Governor, Jared Polis, Ethereum Co-Founder, Vitalik Buterin and Executive Director of the Department of Revenue, Lu Cordova.
Cordova stated in the announcement that the Lottery’s GameJam is the state’s most recent shining example of another “first for Colorado”. He added that this event demonstrates how Colorado is in the middle of a digital evolution to make it the most tech-forward state in the country, while supporting its schools and the great outdoors.