Why Lucky Block May Be The Best NFT Competitions Game Out There?
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 up as 7,000% in less than three weeks.
The network is constructed using the most efficient blockchain techniques; this is why it is entirely transparent and decentralized. Additionally, they have just debuted the Lucky Block NFT (LCK).
Lucky Block is a novel take on the ‘play-to-earn’ (P2E) gaming idea, incorporating a free jackpot mechanism for its crypto token and NFT holders.
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The popularity of Lucky Block tokens led to the introduction of the Platinum Rollers Club collection of Lucky Block non-fungible tokens. The collection of 10,000 distinct NFTs became accessible on March 19, 2022, and it is rapidly gaining popularity among NFT collectors and cryptocurrency traders.
Rather than adopting a video game model like Axie Infinity, Gods Unchained, Splinterlands, and others – or constructing a Metaverse — while including virtual world gaming is part of phase four of its roadmap — like Decentraland or The Sandbox, Lucky Block now focuses on a sweepstakes jackpot prize pool.
Continue reading this article as it will help you understand why Lucky Block may be the best NFT competition game out there.
What Is The 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 a groundbreaking lottery system.
The project aims to use 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 public ledgers, guaranteeing that all players are treated equally. The platform is almost devoid of fraud, and all winners are selected at random.
This novel approach to lottery games has generated a robust community in a short of months, compelling the development team to construct a collection of one-of-a-kind NFTs. The LBLOCK coin is still relatively new on the market, but its future growth appears to be steady.
The lottery prize pool is set at $5,500,000, and the current market capitalization is $530,000,000. Since its inception, the token has gone a long way, and the newest improvements to the platform will drive the price even higher in the future.
More on Lucky Block’s NFT
The launch of the Lucky Block Platinum Rollers Club NFT collection generated a tremendous amount of excitement among LBLOCK holders and early investors. Similar to the LBLOCK token, the price of the Lucky Block NFT collection is anticipated to rise after 2022. If the NFT collection is as successful as the token, a $1,000 investment will provide a return of $100,000.
In contrast to the majority of NFTs accessible on markets such as OpenSea and others, the Lucky Block NFT collection has additional usefulness. Everyone who possesses at least one NFT from the collection is automatically entered for life into the daily NFT lottery. Each award is worth $10,000, and the 25 most fortunate participants will receive a rare NFT.
In recent months, the platform has been featured on television programs and other media outlets throughout the globe. The media’s interest in the 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 Does Lucky Block Play to Earn Work?
The daily jackpots, contests, and other coin giveaways to be conducted by Lucky Block – with more planned since this P2P initiative is still in its infancy – are intended to construct a truly decentralized crypto gaming platform where “everyone wins.” This is accomplished by giving opportunities to earn passive revenue without direct participation.
As an incentive to participate in the project and have a stake in it, holders of the platform’s native token LBLOCK or one of its NFTs receive a percentage of each jackpot victory.
As redistributed earnings, 10% of each jackpot win is reinvested into their own investor base, and 2% is contributed to the NFT prize pool – another set of daily drawings.
In addition to concentrating on digital entertainment, Lucky Block is also participating in charity initiatives, using the crypto contribution site The Giving Block or becoming involved in real life with organizations such as the British Red Cross.
An additional 10% of each jackpot is donated to charity, with players, token holders, and the Telegram community voting on which causes to support. Lucky Block is also eager to inject new funds and attention into the crypto ecosystem. This will help in assisting cryptocurrencies and altcoins in becoming more popular and achieving a larger market capitalization than the $1 to $2 trillion range in 2022.
Lucky Block sponsored boxers Dillian Whyte and Florian Marku, as well as Love Island personality Jamie Jewitt, to act as brand ambassadors and promote their vast following to the opportunity to earn gaming, cryptocurrency, and non-fungible tokens by participating in the platform’s games.
8% of each prize is allocated to global marketing, and more sponsorships from the non-cryptocurrency world are planned. 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 a ticket to participate.
After launching their native token on PancakeSwap on January 26, 2022, and the LBank exchange on February 11, 2022, Lucky Block will showcase their use case with their 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 also employ a play to earn style – where investors may earn crypto passive income and play for free.
Although it does not yet take the form of Metaverse gaming, both direct participants and passive investors can earn free cryptocurrency while participating. New niches are being carved out by play-to-earn gaming formats, such as the move-to-earn concept underlying Stepn (GMT) and Step App (FITFI).
Lucky Block also has a lower entrance hurdle than purchasing a shoe NFT, collecting Axies for Axie Infinity, or buying Otherdeeds (virtual land in the Otherside Metaverse game). Their LBLOCK token is now selling at about $0.002 per coin with a market worth of $77 million, leaving opportunity for growth in the next crypto bull market.
Despite this year’s negative market for cryptocurrencies, LBLOCK may have seen a ‘test pump’ earlier in 2022, as its initial bull cycle experienced a 65x increase from $0.00015 to $0.0097. In a bull market, LBLOCK may tenfold in value while maintaining a market cap below $1 billion, which is nothing for an Altcoin with a revolutionary function.
Advantages of Investing In Lucky Block NFT
While NFTs are typically criticized for their lack of actual value, the developers of Lucky Block NFT aimed to make it different by incorporating particular use cases and rewards for holders.
We will examine them in depth.
NFT Draw Every Day
One of the primary advantages of purchasing Lucky Block NFT is that it grants you lifelong access into the daily NFT lottery drawing. This draw is exclusive to NFT holders and is distinct from Lucky Block’s primary game.
The jackpot will be comparable to 2% of the value in the main draw, which is around $10,000. In addition, if you obtain 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 previously stated, there are only 10,000 Lucky Block NFTs available, and according to the creators, this is the final number. Due to the finite supply of NFTs, each NFT has intrinsic long-term worth. This is also one of the primary reasons why analysts anticipate significant price hikes for Lucky Block NFT.
When purchasing a Lucky Block non-fungible token, gamers have a chance to mint one of 25 uncommon collectable pieces.
The acquisition of a rare item will not be revealed until the transaction is finished. Possessors of uncommon items get additional benefits, such as winning the lottery jackpot twice.
Chance to Win a Lambo Draw
Lastly, Lucky Block NFT holders have the opportunity to win a $270,000 Lamborghini. The ‘Win a Lambo’ drawing will occur after all 10,000 NFTs have been sold. The winner will be determined using a transparent random number generator software that will be aired live on the Lucky Block Telegram group.
Future of Lucky Block
The historical success of LBLOCK is only a fraction of what is anticipated for the future of the project. Currently, developers are working diligently to update the tokens to the so-called LBLOCK V2 standard.
The new version of the token will feature a locking mechanism and support the intrinsic taxation procedure. The goal is to design a token that will maintain price parity and preserve the token supply.
To maintain the stability of both versions, all LBLOCK V2 token purchases will be matched by the equivalent quantity of V1 token purchases. Each variant will serve a distinct purpose. V1 LBLOCK tokens will continue to be used to purchase lottery tickets and distribute wins, but the other version will be used only for trade on centralized Ethereum-based platforms.
In contrast to V1, the new version of Lucky Block tokens will not be subject to a 12% tax when sold, providing holders with a larger profit margin, enhancing liquidity, and generally raising prices. The V2 coin is the next major milestone on 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 anticipated to considerably increase the value of the Lucky Block NFT collection. Lucky Block is anticipated to be one of the top projects in 2022, thus investors in cryptocurrencies should examine it.
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