The Lucky Block NFT competitions platform offers the chance to win $ 1 million in Bitcoin

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This article is sponsored by Lucky Block.

Lucky block

is the market-leading NFT competition platform offering unrivaled rewards in the cryptocurrency world.

There are currently some incredible prizes up for grabs including a chance to win a $ 1 million house, a 5-star trip overseas, and even a $ 300,000 Lamborghini.

But his first prize is undoubtedly a chance to win $ 1 million worth of Bitcoin.

At current prices of under $ 20,000 which would take the winner to more than 50 BTC, it doesn’t take a lot of calculations to figure out how much it might be worth in the future if Bitcoin hit its previous all-time high of nearly $ 70,000.

More bullish analysts predict that BTC will hit six digits over the next two years and potentially $ 1,000,000 per coin by the end of the decade.

What is Lucky Block?

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Lucky block is the leading NFT competition platform that combines NFT ownership with prize draw and has been named one of the best cryptocurrencies to buy.

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

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

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How do I participate in the Lucky Block $ 1 million BTC draw?

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

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

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

Alternatively, Platinum Roller Club NFTs are also on sale on launchpad.xyz with a minimum price of 1.65 BNB (around $ 465 at the time of writing) and will also count as an automatic entry to all major prize draws.

Once investors have their ticket ⏤ around 24,000 entries remain ⏤ they simply have to hold the NFT until the entire collection is sold out and a winner is then chosen at random.

There are no restrictions on the number of NFT memberships that individuals can purchase to double or triple their chances of winning, although Platinum Roller Club holders will need to purchase individual NFT rewards on top for multiple memberships.

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

The top five prizes currently available are a Lamborghini, Bored Ape Yacht Club NFT, a $ 1 million home, a 5-star overseas luxury vacation, and $ 1 million worth of Bitcoin.

Some minor prizes, such as Joyce-Parker Tickets, did not require entrants to hold any NFTs, but did ask people to complete a variety of tasks, including following social media accounts and posting about the competition.

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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 the major DEX and CEX.

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LBLOCK V1 launched to great fanfare in early 2022, delivering early investors a peak yield of more than 6,000% within one month of launch.

The price has since been corrected in a broader bear market environment, but several exciting announcements from the project make it one of the most undervalued cryptocurrencies and there is strong sentiment for further gains before the end of 2022.

LBLOCK V1 was a BEP-20 coin and can only be traded on DEX, and in August the project released LBLOCK V2, an ERC-20 token that can be more easily listed on CEX and clears the 12% transaction fee.

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

Listing on larger exchanges brings more liquidity and awareness to the project and usually causes both immediate and long-term growth.

What is the LBLOCK bridge?

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V1 coin holders will be able to exchange tokens for V2 once LBLOCK Bridge goes live on October 3rd.

The bridge allows holders to exchange 1 V1 token for 0.88 V2 tokens.

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

Given the high number of attacks on cross bridges in 2022, the project is opting for a cautious approach to the task.

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

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.

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What is LBLOCK Burn?

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

Projects like Terra Classic (LUNC) have garnered huge stocks, as they have to introduce a 1.2% hike on transactions, but Lucky Block took it a step further by introducing a 1% monthly hike.

With a total supply of 3.25 billion coins, the burn will see 32,500,000 LBLOCK tokens permanently erased from supply on September 30, with burns following each subsequent month and making it a fast growing cryptocurrency from then on.

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

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