Lucky Block is one of the latest and most successful cryptocurrencies during the past several months. The LBLOCK coin was introduced in 2021, and its value increased by 7,000% in less than three weeks.
The network is built using the most efficient blockchain technologies; That is why it is completely transparent and decentralized. Additionally, they have recently introduced Lucky Block NFT (LCK).
Lucky Block is a new take on the ‘play-to-earn’ (P2E) gaming idea, which includes its crypto tokens and a free jackpot mechanism for NFT holders.
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The popularity of the Lucky Block token led to the launch of the Platinum Rollers Club collection of Lucky Block non-fungible tokens. The collection of 10,000 unique NFTs became accessible on March 19, 2022, and is rapidly gaining popularity among NFT collectors and cryptocurrency traders.
Instead of adopting video game models like Axie Infinity, Gods Unchained, Splinterlands, and others — or building the metaverse — while including virtual world gaming is part of phase four of its roadmap — like Decentraland or The Sandbox, Lucky Block is now on one. Focused on the sweepstakes jackpot prize pool.
Keep reading this article as it will help you understand why Lucky Block might be the best NFT competition game.
Table of Contents
What is Lucky Block Cryptocurrency?
Before discussing the Lucky Block NFT collection, we will first describe how the entire project operates. Using blockchain technology, Lucky Block is a decentralized cryptocurrency used to play online lottery games. All players have an equal chance of winning on the Lucky Block platform, which is considered an unprecedented lottery system.
The project aims to harness the power of new technologies developed on the Binance Smart Chain to improve the fairness and transparency of the lottery draw process.
Since it is based on blockchain technology, all transactions are recorded on a public ledger, guaranteeing that all players are treated equally. The platform is virtually devoid of fraud, and all winners are chosen at random.
This new approach to lottery games has created a strong community in just a few months, forcing the development team to build a collection of one-of-a-kind NFTs. LBLOCK Coin is still relatively new to the market, but its future growth appears to be stable.
The lottery prize pool is set at $5,500,000, and the current market capitalization is $530,000,000. The coin has come a long way since its inception, and the latest improvements to the platform will push the price even higher in the future.
Lucky Block’s NFT . on more
The launch of Lucky Block Platinum Rollers Club NFT Collection created tremendous excitement among LBlock holders and early investors. Similar to the LBLOCK token, the Lucky Block NFT collection price is expected to increase after 2022. If the NFT collection is successful in token form, an investment of $1,000 would yield a return of $100,000.
Unlike most NFTs available in markets like OpenC and others, Lucky Block NFT Collection has additional utility. Everyone who holds at least one NFT from the collection is automatically entered into the Daily NFT Lottery for a lifetime. Each prize is worth $10,000, and the 25 luckiest participants will receive a rare NFT.
In recent months, the stage has been featured on television programs and other media outlets around the world. Media interest in this initiative will undoubtedly increase the value of tokens and NFTs. The NFT Collection is one of the featured collections on the new NFT Launchpad.
How to play Lucky Block to earn work?
The daily jackpots, contests, and other coin giveaways organized by Lucky Block – with more planned as this P2P initiative is still in its infancy – aim to build a truly decentralized crypto gaming platform where “everyone and everyone” Somebody wins.” This is accomplished by giving opportunities to earn passive revenue without direct involvement.
As an incentive to participate in and hold a stake in the project, holders of the platform’s native token LBLOCK or one of its NFTs receive a percentage of each jackpot win.
As redistributed income, 10% of each jackpot winnings is reinvested into its own investor base, and 2% is contributed to the NFT prize pool – another set of daily drawings.
In addition to focusing on digital entertainment, Lucky Block is also participating in charity initiatives, using crypto contribution site The Giving Block or getting involved in real life with organizations such as the British Red Cross.
An additional 10% of each jackpot is donated to a cause with players, token holders and the Telegram community voting on which cause to support. Lucky Block is also keen to inject new funds and attention into the crypto ecosystem. This will help cryptocurrencies and altcoins to become more popular and achieve a larger market capitalization than the $1 to $2 trillion range in 2022.
Lucky Block sponsors boxers Dillian White and Florian Marku, as well as Love Island personality Jamie Jew, to act as brand ambassadors and participate in the platform’s games for gaming, cryptocurrency, and opportunities to earn non-fungible tokens be able to promote.
8% of each prize is allocated to global marketing, and more sponsorships are planned from the non-crypto world. Overall, jackpot winners earn 70% of the entire reward pool. Token and NFT holders receive a free ticket for a chance to win the jackpot, eliminating the need to purchase tickets to participate.
After launching its native token on PancakeSwap on January 26, 2022, and the ElBank exchange on February 11, 2022, Lucky Block will demonstrate its use case with its first prize draw on May 31.
Lucky Block may have a promising future in the market, as there are very few decentralized crypto sweepstakes formats that use a play to earn genre – where investors can earn crypto passive income and play for free.
While it does not yet take the form of Metaverse gaming, both direct participants and passive investors can earn free cryptocurrency while participating. New space is being created by play-to-earn gaming formats, such as Steppen (GMT) and StepApp (FITFI) underlying the move-to-earn concept.
Lucky Block has a lower entry barrier than buying shoe NFTs, collecting Axis for Axis Infinity, or buying other deeds (virtual lands in the Otherside Metaverse game). Their LBLOCK token is now selling at around $0.002 per coin with a market cap of $77 million, providing an opportunity for growth in the next crypto bull market.
Despite this year’s negative market for the cryptocurrency, LBLOCK may have seen a ‘test pump’ in early 2022 as it grew 65 times from $0.00015 to $0.0097 in its initial bull cycle. In a bull market, LBLOCK could be worth ten times while the market capitalization is less than $1 billion, which is nothing for an altcoin with a revolutionary function.
Benefits of Investing in Lucky Block NFT
While NFTs are generally criticized for lacking real value, the developers of Lucky Block NFT aim to set it apart by including special use cases and rewards for holders.
We will examine them in depth.
nft draw every day
One of the primary benefits of buying Lucky Block NFT is that it gives you lifetime access to daily NFT lottery drawings. This draw is exclusive to NFT holders and is separate from Lucky Block’s primary game.
The jackpot will be equal to 2% of the value in the main draw, which is approximately $10,000. In addition, if you get one of Lucky Block’s 25 rare NFT pieces in addition to winning the jackpot, your winnings will be multiplied by two.
limited token supply
As stated earlier, there are only 10,000 Lucky Block NFTs available, and according to the creators, this is the final number. Due to the limited supply of NFTs, each NFT has intrinsic long-term value. This is also a primary reason why analysts anticipate a significant price increase for Lucky Block NFT.
Read more: Lucky Block NFT: How to Buy It?
When purchasing Lucky Block non-fungible tokens, gamers have the chance to mint one of 25 unusual collectible pieces.
The acquisition of the rare item will not be disclosed until the transaction is concluded. Owners of unusual items receive additional benefits, such as winning the lottery jackpot twice.
Chance to win Lambo Draw
Lastly, Lucky Block NFT holders have a chance to win a Lamborghini worth $270,000. There will be a ‘Win a Lambo’ drawing after all 10,000 NFTs are sold. The winner will be determined using a transparent random number generator software that will be broadcast live on the Lucky Block Telegram group.
Lucky Block’s future
The historical success of LBLOCK is only a fraction of what is projected for the future of the project. Currently, the developers are working diligently to update the token to the so-called LBLOCK V2 standard.
The new version of the token will have a locking mechanism and support the internal taxation process. The goal is to design a token that will maintain price parity and maintain the token supply.
In order to maintain the stability of both versions, all LBLOCK V2 token purchases will be matched with an equal amount of V1 token purchases. Each version will serve a specific purpose. The V1 LBLOCK token will continue to be used to purchase lottery tickets and distribute winnings, but the second version will only be used for trading on a centralized Ethereum-based platform.
Unlike V1, the new version of the Lucky Block token will not be subject to a 12% tax when sold, providing holders with a larger profit margin, increasing liquidity, and generally raising prices. V2 Coin is the next major milestone in Lucky Block’s plan, which will position the project with the most successful crypto ventures in the world.
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The issuance of the LBLOCK V2 token is expected to significantly increase the value of the Lucky Block NFT collection. Lucky Block is projected to be one of the top projects in 2022, so investors in cryptocurrencies should check it out.
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Read more: Nft launchpad lucky block – Krypto-NFTs