Lucky Block: A Revolutional Blockchain Based Lottery
In recent years, we are witnessing how numerous industries, from video gaming to fashion and music, are jumping on the digital currency bandwagon. And the lotto industry is no exception, being the latest to be transformed by digital space. Our guide reviews Lucky Block, one of the best crypto lottery platforms available. Keep reading to find out all the information on this hot topic and its future potential.
Table of Contents
What Is Lucky Block?
Lucky Block is a worldwide lottery platform, a better alternative to traditional lottery systems. It leverages blockchain technology offering an exciting new option for those interested in online gambling. The network runs on the Binance Smart Chain and is entirely decentralized, as every transaction is logged in the blockchain, increasing visibility.
The Lucky Block team’s objective has been wriggling the lottery world free of the geographical and local financial chains making the game accessible and secure for people globally.
Why Choose Lucky Block?
By moving the lottery to the blockchain, the Lucky Block team tries to improve key areas of the current lottery system and address big issues like a lack of liquidity to reward the winners, speed, and security.
- Distributed databases and automatic techniques minimize the financial and operational risks of managing the network. Blockchain technology provides players with a secure, transparent, and resilient experience, which leads to the seamless management of the lottery platform. Moreover, due to the blockchain-based nature, the Lucky Block network is accessible to entrants worldwide.
- The other considerable improvement that Lucky Block has brought is the frequency of prize payouts. Unlike other lottery companies which offer weekly or bi-weekly draws, Lucky Block conducts daily prize draws. As a result, each member has better winning odds making Lucky Block the best alternative to current lottery systems.
- And last but not least important and distinguishing feature of the Lucky Block project is that 10% of each prize pool will be distributed to charity. And Lucky Block has made its first donation to the British Red Cross ($5000), making waves in the lottery industry in January. This ensures that each entrant can make a beneficial impact in national communities.
How Does Lucky Block Work?
If you want to participate in the lottery distribution, you can buy the LBLOCK token. You should connect your digital wallet and buy the native token from a decentralized exchange. Lucky Block currently supports MetaMask and Trust Wallet. Note that four percent of every token transaction goes towards the lottery fund. You can participate in the daily jackpot by locking in your tokens.
When a lottery takes place, a single token holder wins 70% of the daily jackpot, 10% goes to charity, 10% is for Lucky Block marketing, and the remaining 10% is distributed to all LBLOCK holders.
The Ecosystem of Lucky Block
As we have already mentioned, Lucky Block runs on the Binance Smart Chain network, where investors can earn passive income and buy a ticket for a lottery. The entrants can purchase the tickets only via Lottery Block’s homepage and Lottery Block app. So, Lucky Block’s unique ecosystem enables entrants from all over the world to participate in prize draw games in a safe and transparent manner using smart contracts.
What is LBLOCK?
Lucky Block has its native cryptocurrency called LBLOCK (with 100 billion currently existing tokens). The token has several use cases within the Lucky Block ecosystem, such as winning payout, transaction fee payment, buying lotto tickets, distributing jackpots, Transaction/lottery pool management, and more.
LBLOCK enables holders to generate passive income by holding the token and not selling it, as when the jackpot distribution takes place, 10% goes to token holders.
What Are Lucky Block NFTs?
After launching their native token on Panckakeswap, the founders of Lucky Block have started another project offering the exclusive NFT collection with a total of 10,000 Lucky Block NFTs. Each NFT of the collection called Platinium Rollers Club is unique in nature. The NFTs are available on the launchpad campaign at $1,500 in wBNB. The Platinium Rollers Club NFT enables owners to access a daily NFT draw and have a chance to win a jackpot. In addition, 25 NFTs of the collection are rare edition collectibles. The owner of one of these rare collectibles will have the chance of winning a double jackpot.
How To Buy Lucky Block NFT?
As Lucky Block NFTs are new to the world, our guide will provide detailed information on how to buy these non-fungible tokens. So, without furder ado, read on to find out the main steps to buy one of the 10,000 unique NFTs before they sell out.
- Step 1: Get a digital Wallet. Lucky Block NFT launchpad currently supports only MetaMask digital wallet. You can either download a mobile app for the wallet or add the MetaMask extension to your Google Chrome browser.
- Step 2: Deposit wBNB. In order to add wBNB tokens to pay for your NFT purchase, you have to manually add Binance Smart Chain to your MetaMask wallet. Once You have added Binance Smart Chain to your MetaMask, You can now buy wBNB from the Binance crypto exchange and transfer the tokens over.
- Step 3: Visit the Launchpad and connect Wallet. The Lucky Block NFT Launchpad is the only place you can purchase NFTs priced at the equivalent of $1,500.
How To Buy Lucky Block NFT?
Lucky Block enables you to enjoy added benefits of being an NFT holder. Let’s discover the main reasons for buying Lucky Block Coin NFTs:
- Daily NFT Draw
Lucky Block offers a daily NFT draw which is available only for NFT holders. The daily prize draw is separate from the Lucky Block game. Most importantly, owning a Lucky Block NFT will guarantee a lifetime entry into the draw. According to the Lucky Block development team, the NFT jackpot will be about $10,000.
- Only 10,000 Lucky Block NFTs will ever exist.
As noted, the NFT collection features only 10,000 collectibles that will ever exist. This scarcity in supply ensures that the value of the NFTs will continue to rise. So, each collectible item of this exclusive collection can be an investment product.
- Rare Collections
Among the collection of 10,000 NFTs are 25 defined as rare collectibles. And only after buying an NFT you can find out whether it is a rare collectible or not. Owning a rare NFT will give you the chance to win a double jackpot.
Which Crypto Wallets Does The Lucky Block Patform Support?
The Lucky Block platform supports two digital wallets: Trust Wallet and MetaMask.
How Much Is The Transaction Fee?
Only 12% of the transaction amount goes to transaction fees (sometimes referred to as a tax).
How Do I Know If My NFT Is Real?
After discussing all the potential NFT scams you can face, it is reasonable to refer to NFT verification. Each NFT has a unique, non-replicable transaction hash. The former is a random sequence of letters and numbers, that is verified and added to the blockchain. So if you want to check whether your NFT is authentic, visit the Etherscan.io block explorer website, type the transaction hash and verify your NFT.
If you want to check the NFT sale history, sales volume charts, rankings, and prices, go to CryptoSlam.io.
The Lucky Block development team promises to transform traditional lottery systems into a better and decentralized platform accessible for entrants worldwide. They highlight the necessity for the lottery industry to provide secure and more transparent gaming by leveraging blockchain technology. And we are more than sure, that upcoming years will be fantastic for Lucky Block’s projects.