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Fortune

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Carlos Garcia

Megapot raises $5 million to create a crypto-powered global lottery

Crypto blockchain

startup team smiles in front of camera (Credit: Courtesy of Megapot)

Most lotteries are contained within a country or a state, and much of the time, people have to go to a physical location to buy a ticket. Patrick Lung founded Megapot in order to create a global lottery where people around the world can buy tickets from their phone.

On Thursday, the startup announced that it raised $5 million in a funding round led by Dragonfly, with participation from Coinbase Ventures, Bankless Ventures, and the founders behind FanDuel, Betfair, and MyPrize. Lung declined to share the startup’s valuation, in an interview with Fortune.

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