With that in mind, let’s take a look at what Lucky Block is and explore whether it could be the best new cryptocurrency to invest in 2022.
What is Lucky Block?
First thing’s first – what is Lucky Block? In simple terms, Lucky Block is a crypto-lottery platform that seeks to revamp the way that traditional lottery systems are run. These days, lotteries throughout the UK (and worldwide) tend to be facilitated by large companies with the end goal of making a profit. As such, the lottery’s entrants are more of a means to an end – which can cause problems regarding fairness and transparency.
By moving the lottery system to the blockchain, Lucky Block removes these problems and provides a much better user experience. Lucky Block is hosted on the Binance Smart Chain and leverages technological advances to remove geographical boundaries and improve the odds of winning for each entrant. What’s more, Lucky Block’s native token (LBLOCK) has numerous use cases, such as buying lotto tickets and as an investment asset. Finally, Lucky Block’s prize distribution model is incredibly efficient. Pay-outs to winners are made instantly, and other users receive a portion of the prize pool just for holding LBLOCK tokens!
The Story So Far
As you can see from the section above, Lucky Block’s potential is enormous. Now let’s dive in and examine the platform’s journey to get to where it is today:
- Lucky Block’s development team came up with the idea for the platform after noting various pain points associated with traditional lotteries that could be reduced (or removed) by transitioning to the blockchain.
- After developing the Lucky Block platform, an experienced smart contract and blockchain auditor (Solidproof.io) was hired to ensure the validity of the platform.
- The auditing report was returned with exceptional results, so Lucky Block’s developers proceeded to apply for a listing on Coin Gecko and launched an extensive marketing campaign throughout London and Manchester.
- The Lucky Block whitepaper was then produced, detailing the motivation behind the platform, how the LBLOCK token will work, and the developers’ roadmap for the future.
- At the time of writing, Lucky Block is currently in the ‘pre-sale’ phase, where investors can purchase LBLOCK tokens at a reduced price point. More than 14.6 billion tokens have already been sold for 0.0000002419 BNB per token – equalling a total of 3543.47 BNB. Exchanging this into GBP, we can see that over £1.25 million has been raised for Lucky Block so far!
Why Buy Lucky Block?
Like other exciting cryptos, Lucky Block has numerous elements that make it stand out from the crowd. Here are some of the top reasons to consider investing in the platform in 2022:
Exciting Future Plans
Right now, Lucky Block is only in Phase 2 of its roadmap, with two additional phases to come after this one. These phases present exciting plans for the platform, such as creating Lucky Block merchandise, online scratch cards, creating a charitable foundation, and even launching Lucky Block NFTs!
A 12% transaction tax will be levied each time an investor sells LBLOCK, which is designed to promote the long-term holding of the token. However, this tax is used to benefit the platform further, as 4% will be added to upcoming prize pools, 4% will be added to liquidity pools, 3% will go to Lucky Block’s gaming and royalty fund, and 1% will be ‘burned’ to reduce the total supply.
Experienced Development Team
Finally, Lucky Block’s development team is clearly highlighted on the website and whitepaper, ensuring clarity on who is behind the platform. Scott Ryder, Lucky Block’s CEO, has extensive experience within the crypto space and even serves as CEO of SafeMoon – another exciting cryptocurrency that produced exceptional returns in 2021.
Lucky Block Crypto Lottery
Much like traditional lotteries, entrants will need to buy a ticket to participate in prize draws. Tickets can be purchased using LBLOCK, with winnings distributed in LBLOCK. All winning tickets are decided on using Random Number Generation (RNG), which ensures the fairness of the entire system. The great thing is that if your ticket was a winner, you can easily exchange your LBLOCK to BNB and then to FIAT currency, enabling you to spend your winnings in the real world!
As noted earlier, the tokenomics behind LBLOCK are stellar. A total of 10% of each prize pool will be distributed back to LBLOCK holders as a sort of ‘reward’ for simply holding the token. This follows a similar structure to dividend payments received for owning a company’s shares, allowing LBLOCK investors to generate a passive income whilst still having scope for capital gains too.
Lucky Block Presale
Although Lucky Block isn’t scheduled to officially launch until Q2 2022, users can still invest in LBLOCK through the pre-sale. Crypto platforms tend to utilise pre-sales to increase the ‘hype’ surrounding a project and allow early investors to purchase tokens at an attractive rate.
Investing in Lucky Block’s pre-sale is easy, as all it requires is for you to hold some BNB, which will be used to exchange for LBLOCK. The pre-sale ends on February 1st, which will mark the last time that investors can purchase tokens for a reduced price. Finally, you can even discuss the pre-sale with other investors through Lucky Block’s official Telegram group – which has over 16,400 members at the time of writing!