AppYea Inc. (OTCQB: APYP) announced the acquisition of Techlott Ltd.’s blockchain-based lottery and gaming platform, marking a strategic business pivot toward the institutional lottery market.
The transaction provides AppYea with what the company describes as a production-ready technology package designed for enterprise deployments. Techlott’s platform utilizes blockchain technology for lottery operations, featuring on-chain draw logic and automated workflows.
The platform’s smart contracts completed an independent QuillAudits review with no high or medium-severity issues reported, according to the announcement. The system processed over 212,000 test transactions during transparency review testing.
Market research cited by AppYea indicates the global lottery market reached $353.29 billion in 2024, with Grand View Research forecasting growth to $483.93 billion by 2030. The company noted that approximately 16% of global lottery activity currently operates online.
As part of the transaction, Techlott becomes a significant shareholder in AppYea and gains board representation. The companies plan to focus on government and enterprise deployments of the platform.
“This acquisition is the culmination of a clear strategy. We identified a gap in a multi-billion dollar market and acquired the technology to fill it,” said Yakir Abadi, Chief Executive Officer of AppYea.
AppYea stated it plans to apply for uplisting to a U.S. exchange and pursue related financing activities. The platform supports business-to-government, business-to-business, and business-to-consumer models, with integration capabilities across multiple blockchain networks.
Additional transaction details are available in AppYea’s Form 8-K filing with the Securities and Exchange Commission.
Read more on StreetInsider.com
