The Lucky Block platform powered by the Lucky Block (LBLOCK) token has been created to sidestep a wide range of issues in the existing gaming lottery marketplaces, such as the lack of transparency and integrity.
As a result, the Lucky Block ecosystem sports an intuitive layout that promotes a sense of shared success among the participants. Built on the Ethereum blockchain and operating with the help of its own governance token LBLOCK, Lucky Block provides a fair, reliable, and decentralized alternative to traditional lottery systems.
How Does Lucky Block (LBLOCK) Work?
The ultimate objective of Lucky Block is to provide NFT-competition participants with a safe competing online environment with an improved chance of winning and making money.
In the bargain, Lucky Block promotes the growth of the blockchain gaming and lottery industries by enabling a trustless platform where all participants have access to the ledger-recorded data. The Lucky Block infrastructure was built exactly with this purpose in mind.
To ensure maximum openness, the ledger is replicated across the decentralized platform and made available to all users. Moreover, this innovative blockchain system uses the LBLOCK token to facilitate instant transactions and transparent rewards.
Validating data blocks on the blockchain additionally improves the network’s security by preventing information leakage and tampering. Also, the decentralized nature of the Lucky Block network protects the participants’ assets from any potential losses caused by hackers.
What Is Lucky Block (LBLOCK) Used For?
As a participant of the Ethereum-based NFT-competition platform Lucky Block, you have the opportunity to win one-of-a-kind prizes and generate passive income on your NFT holdings.
Users must first open a Lucky Block account, fund it with crypto, and purchase an NFT to take part in the Lucky Block platform competitions. After the competition is over, the winners are revealed. If you are the lucky winner, you could win anything from a Lamborghini or luxury mansion to 1 million in Bitcoin.
Lucky Block NFTs
The only prerequisite to enter a Lucky Block competition is to buy an NFT and select a competition you’d like to participate in.
Now all there is to do is wait for the competition to end and check out who wins. If you don’t end up winning the NFT tournament or any of the Lucky Block competitions offering a lucrative or luxury reward, the NFT you bought will still hold value.
Also, a player who holds an NFT is entitled to 10% of the entire prize pool. What this means is that there will be incentives for everyone involved. Additionally, NFT holders have the opportunity to earn passive income through the daily tournaments on the platform.
Even if you aren’t currently using your NFTs for a tournament or prize draw, you can still benefit from them. You see, the Lucky Block NFTs can bring you passive rewards as long as you hold onto them after the competitions end.
Reflection Token Mechanism
The Lucky Block rewards LBLOCK token holders for keeping this utility token on the platform because it boosts its market circulation.
LBLOCK token holders are also eligible for a share of transaction fees for as long as they continue to hold onto the tokens they purchased. To be more specific, a 6% transaction fee is applied to each and every LBLOCK token exchange.
Where to Buy Lucky Block (LBLOCK)?
Those who are fine with transacting through a centralized platform can buy and sell $LBLOCK tokens on Gate.io, MEXC, and LBank. You can read our in-depth reviews of the best cryptocurrency exchanges to learn more about these exchanges and how to buy and sell $LBLOCK tokens with confidence.
How Long Has Lucky Block (LBLOCK) Been Around?
The Lucky Block (LBLOCK) utility token was developed on the Binance Smart Chain (BSC) and launched on January 26, 2022.
What’s Controversial About Lucky Block (LBLOCK)?
Lucky Block is a blockchain platform where participants can try their luck at lottery-like NFT competitions or casino challenges with a chance to win prizes. A comparison to gambling is appropriate here because of the nature of the platform’s products.
Nevertheless, you should be very careful before engaging in any casino games, especially when dealing with volatile assets like cryptocurrencies.
How Many Lucky Block Tokens Are There?
There is a maximum supply of 100,000,000,000 LBLOCK tokens, while the circulation supply of these tokens is not disclosed.
Can LBLOCK Be Mined?
Yes, you can mine LBLOCK on the exchanges that support this token, primarily on LBank.
Market Cap and Price History of Lucky Block (LBLOCK)
Lucky Block (V1) is currently trading at a price of about $0.00000887. Its current position on CoinMarketCap is #5056, while the market capitalization of the live cryptocurrency market is not available.
Biggest Competitors of Lucky Block (LBLOCK)
Given its recent release, it is premature to speculate on the nature of the companies that will pose the greatest competition to Lucky Block (LBLOCK).
What Does the Lucky Block (LBLOCK) Project Road Map Look Like?
To put it simply, Lucky Block is a game changer for the online lottery sector since it opens up the Internet space for fans of such challenges. As a blockchain-based platform, Lucky Block is secure, fair, and transparent, which in turn attracts a lot of attention among competitive NFT holders.
To this end, the Lucky Block executives and developers are working hard to further improve the user experience, as well as the offers on their platform.
Pros and Cons of Lucky Block (LBLOCK)
Pros
- Mineable token;
- Used in NFT competitions.
Cons
- Supported by a handful of crypto exchanges;
- Promotes gambling with volatile products.