NFT Competitions Platform Lucky Block offers the chance to win $1 million in Bitcoin

Image via Lucky Block

This article is sponsored by Lucky Block.

Lucky Block is the market leading NFT competition platform offering unrivaled prizes in the crypto world.

At the moment there are some incredible prizes, including the chance to win a $1 million house, a 5-star trip abroad and even a $300,000 Lamborghini.

But the top prize is undoubtedly the chance to win $1 million with Bitcoin.

With current prices below $20,000 that would land the winner more than 50 BTC, it doesn’t take much calculation to figure out how much it could be worth in the future should Bitcoin reach its previous record high of nearly $70,000. .

More bullish analysts predict that BTC will reach six figures in the next couple of years and potentially $1,000,000 per coin by the end of the decade.

What is Lucky Block?

Lucky Block is the leading NFT contest platform that combines NFT ownership with prize draws and has been voted one of the best cryptos to buy.

Numerous big prizes are up for grabs as well as smaller prizes which have included recent payouts of $2,500 and a pair of tickets to the heavyweight boxing match between Joe Joyce and Joseph Parker.

Investors buy a Lucky Block NFT and are rewarded for holding the NFTs. Rewards are distributed in LBLOCK ⏤ the project’s native token ⏤ which is also available for trading on a number of decentralized (DEX) and centralized (CEX) exchanges.

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How do I enter the Lucky Block $1 Million BTC Prize Draw?

There are two ways to enter the $1 million Bitcoin prize draw.

As mentioned above, to participate in the draw, investors must have Lucky Block NFTs, which act as a ticket for entry.

Individual NFT entries for the Bitcoin draw can be purchased on launchpad.xyz for 0.26 BNB. At the time of writing, that equates to around $75.

Alternatively, Platinum Roller Club NFTs are also for sale on launchpad.xyz with a floor price of 1.65 BNB (approx. $465 at time of writing) and will also count as one automatic entry for all grand prize draws.

Once the investors have received their ticket ⏤ there are around 24,000 entries left ⏤ they simply have to hold the NFT until the entire collection is sold out and a winner will then be picked at random.

There is no limit to how many NFT entries individuals can purchase to double or triple their chances of winning, although Platinum Roller Club holders must purchase individual prize NFTs on top for multiple entries.

Other prizes on offer, including the Lamborghini and Bored Ape Yacht Club NFT, have lower entry requirements and both only need 10,000 entries to start the drawing.

The five grand prizes currently available are a Lamborghini, Bored Ape Yacht Club NFT, $1 million house, 5-star luxury vacation abroad, and $1 million Bitcoin.

Some smaller prizes, such as the Joyce-Parker tickets, did not require entrants to hold any NFTs, but asked individuals to complete a series of tasks, including following social media accounts and posting about the contest.

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What is LBLOCK V2?

Lucky Block also has a native cryptocurrency, LBLOCK, which acts as a reward token for NFT holders, while being tradable on major DEXs and CEXs.

Launched with great hype and fanfare in early 2022, LBLOCK V1 gave early investors a peak return of more than 6000% within a month of launch.

The price has since corrected amid broader bear market conditions, but several exciting announcements from the project make it one of the most undervalued cryptos, and sentiment is strong for more gains before the end of 2022.

LBLOCK V1 was a BEP-20 coin and only tradable on DEXs, and in August the project released LBLOCK V2, an ERC-20 token that is more easily listed on CEXs and removes the 12% transaction fee.

This saw big gains on MEXC, LBank and Gate after listing, with other exchanges expected in the near future.

Listing on major stock exchanges brings more liquidity and awareness to the project and usually causes growth in both the immediate and long term.

What is the LBLOCK bridge?

Holders of the V1 coins will be able to exchange tokens for V2 when the LBLOCK bridge goes live on October 3rd.

The bridge allows holders to exchange 1 V1 chip for 0.88 V2 chips.

However, the BEP-ETH bridge is currently undergoing a rigorous audit and verification process by blockchain security firm Certik, which uses Binance as their preferred firm.

Given the high profile of cross-chain bridge attacks in 2022, the project chooses to take a cautious approach to the task.

It is estimated that more than $1 billion worth of crypto has been stolen this year in cross-chain bridging attacks.

High-profile hacks include $600 million stolen from Axie Infinity’s Ronin Bridge, $326 million from Wormhole, $200 million from Harmony and another $100 million from Nomad.

What is LBLOCK Burn?

Lucky Block CEO Scott Ryder announced in early September that the project will begin a drastic deflationary burn to increase the scarcity and value of each individual LBLOCK token.

Projects such as Terra Classic (LUNC) have grabbed headlines as they are set to introduce a 1.2% burn on transactions, but Lucky Block has gone a step further by introducing a 1% monthly burn.

With a total supply of 3.25 billion coins, the burn will see 32,500,000 LBLOCK tokens permanently deleted from supply on September 30th, with burns set to follow every month thereafter, making it a fast-growing crypto thereafter.

In simple economic terms, supply and demand should see the value of LBLOCK increase as tokens are burned and supply is cut.

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