Numerous innovative projects are emerging as blockchain technologies and cryptocurrencies continue to thrive. And with the recent NFT boom, has contributed to the birth of a new wave of innovations in the crypto world. One such service is Lucky Block, a crypto casino that uses the native LBLOCK token for participation and reward distribution.
But what exactly is Lucky Block, how does this project work, and is Lucky Block a good investment for 2024? In this comprehensive guide, we will provide our review of Lucky Block and explain the functionality and features of this platform and its native cryptocurrency LBLOCK.
Lucky Block is currently a crypto gaming platform built on Ethereum, although it mainly used to offer a crypto lottery in the past. All transactions are done using the platform’s native token LBLOCK, which is used to take part in the multitude of online games and receive rewards when you win.
LBLOCK exists in 2 forms, V1 and V2. The former, LBLOCK (V1) is a BSC token running on BNB Chain and was the original token for Lucky Block. The company wanted to migrate to the Ethereum blockchain later and created LBLOCK (V2), with a bridge to help holders shift between the two tokens.
This latest version of LBLOCK is an ERC-20 token used within the Lucky Block ecosystem but there is no Lucky Block blockchain. It facilitates participation in online games, rewards distribution, participation in NFT Lucky Block competitions, and provides discounts on transaction fees. Information about circulating supply and market capitalization for Lucky Block v2 is not available on CoinMarketCap
As a derivative token, LBLOCK’s primary role is to fuel operations on the Lucky Block platform. The platform offers a diverse range of casino games fueled by leading developers such as Pragmatic Play, Hacksaw Gaming, etc. It offers sports betting for games such as football and tennis with a large sportsbook that even includes live games and e-sports.
The Lucky Block crypto was created in February 2022 by experts in blockchain and online gaming, led by Lucky Block founder Scott Ryder who served as the project’s CEO. At the start, the goal was just to develop a transparent, fun, and fair crypto lottery platform for all participants around the world without geographical restrictions.
To ensure security, speedy operations, and low energy consumption for transactions, Lucky Block was initially created on BNB Chain (previously known as Binance Smart Chain). Upon its launch, Lucky Block crypto immediately experienced significant success, attracting thousands of users and holders of its native token, LBLOCK (V1).
The token was used across the ecosystem mainly for purchasing tickets for jackpot draws. It also served to earn rewards based on the number of tokens held through a burning mechanism to make it deflationary by increasing in value over time.
In August 2022, Lucky Block introduced the LBLOCK (V2) token, which operates on the Ethereum blockchain this time. This new token was meant to replace the previous one and is used throughout the Lucky Block ecosystem. The company also wanted to encourage the use of LBLOCK as an investment and set up.
Within the cryptocurrency industry, Lucky Block was among the few cryptos whose model revolves around a lottery and it had some success through sponsorships granted to several boxers such as Dillian White to create hype. However, the crypto lottery side of the business was wrapped up and now Lucky Block is only an online casino and sports betting platform.
The original goal behind Lucky Block was to establish a truly transparent and decentralized lottery system. Traditional lottery systems are often opaque about their operations, especially around the algorithms they use to run the draws. Therefore, very few people can win on such platforms as the odds are skewed toward the companies.
Thus the developers of Lucky Block decided to launch a project with the opposite character, ensuring winnings for a maximum number of participants. Users could participate in regular draws according to their preferences by entering daily, weekly, or monthly draws, using LBLOCK tokens as tickets.
And because the system is based on blockchain, a smart contract is responsible for selecting the winners, ensuring randomness and maximum security. Winners would then receive a portion of the accumulated jackpot and the rest distributed to all LBOCK holders as a reward that would encourage holders to maintain their investment.
Now Lucky Block is bringing these same principles to the online gaming industry. Many gaming platforms continue to skew the odds to their favor making it very difficult to win, but Lucky Block once again uses smart contracts that are unbiased. This ensures that all participants have a fair shot at winning while having the confidence of security provided by blockchain.
Lucky Block operates just as any other online gaming platform where you can play a variety of casino games such as blackjack and baccarat as well as slot games. It doesn’t develop the games, though, instead relying on major game providers such as Hacksaw Gaming, Push GamingPlay’n Go, and many others.
To get started on the platform, you will need to either create an account or connect your crypto wallet using a tool like MetaMask. We recommend the latter because you will need to purchase LBLOCK tokens to play the games anyway. However, you can also play for free by clicking on “Play for Fun” but you will not be eligible to receive any rewards even if you win.
In addition, you can take part in sports betting thanks to the platform’s extensive playbook. There is pretty much every sport you can think of on Lucky Block including soccer, tennis, and basketball as well as e-sports like Counter-Strike and FIFA. This is to say that there is no shortage of entertainment on the Lucky Block platform.
LBLOCK is essential across the Lucky Block platform and you must own the token to use its services. The current version operating on the Ethereum network Lucky Block (V2) is the one used but you can exchange between V1 and V2 thanks to a bridge set up in 2022.
To buy Lucky Block crypto (V2), you first need a wallet compatible with ERC20. Of course, for those looking to invest in Lucky Block (V1), a wallet compatible with BEP-20 will be required. Then, you can visit a trading platform that offers LBLOCK for sale to check out the price of Lucky Block and initiate the buy.
Here are 3 options you can use:
This is a decentralized exchange (DEX), which means that it is not run by a company but rather by smart contracts on a blockchain. PancakeSwap v2 runs on BNB Chain meaning that you will only be able to buy LBLOCK (V1) on this exchange and then use the Lucky Block bridge to exchange the tokens for LBLOCK (V2) required to use the Lucky Block platform.
It may sound complicated but it’s quite simple. All you need to do is visit the website and connect your wallet to see the exchange rate of Lucky Block to USD. If you don’t already own crypto, you can buy some using fiat in your local currency on wallets such as MetaMask. Then you can swap the acquired crypto for LBLOCK (V1) on PancakeSwap then bridge to LBLOCK (V2) and you’re ready to go.
Uniswap provides a decentralized protocol for trading ERC20 tokens without intermediaries. To exchange two tokens, you simply connect your wallet to the Uniswap web interface and choose the tokens to trade. If the platform does not offer a particular token, it can be added using its contract address.
You can exchange a variety of ERC20 tokens for LBLOCK (V2) in a few clicks. Before getting started, keep in mind gas fees and monitor network congestion. Transaction fees on Ethereum are known to rise significantly when the network is heavily used. For your ETH>LBLOCK exchange on Uniswap, check the displayed fees before confirming your transaction. This way, you increase your chances of making a profitable investment in Lucky Block.
It’s always a big deal to get listed on a centralized exchange (CEX) especially if it’s as popular as Gate.io. This exchange has a reputation for offering one of the most extensive cryptocurrency catalogs on the market. Therefore, you can purchase LBLOCK (V2) directly using fiat currency (Lucky Block price USD) or convert the crypto you already own into LBLOCK (V2).
You will find LBLOCK among the hundreds of tokens available on the platform. Not surprisingly, with over 2,500 trading pairs available, Gate.io is among the exchanges with the highest transaction volumes within 24 hours.
To acquire LBLOCK tokens on Gate.io, start by purchasing USDT using your local currency. Then, go to the Lucky Block page on Gate.io and proceed to exchange your USDT for LBLOCK.
We recommend using this to buy Lucky Block tokens if you’re a beginner because it is reliable and secure with an intuitive interface. More experienced traders and those who want to avoid signing up and providing identification can use Uniswap because it too is reliable and secure.
To determine the Lucky Block future and whether LBLOCK can be a good investment, you have to consider the utility this cryptocurrency can provide. The LBLOCK token is used in the Lucky Block platform which is simultaneously a blockchain-based gaming and sports betting platform. Therefore, it’s required to participate in all activities on the platform while also being a potential investment.
We don’t know how many users there are on Lucky Block as this information is confidential, but there seems to be very little trading activity of LBLOCK tokens. This is a sign that the token isn’t very popular and CoinMarketCap doesn’t even show the current circulating supply alongside the Lucky Block stock price. Moreover, the website claims that Lucky Block is registered and licensed in Curacao but the license provided belongs to another company.
Only someone with faith in cryptocurrencies and a simultaneous passion for gambling could find investing in Lucky Block opportune as you can see in the Lucky Block chart above. For others, it might simply be a matter of taking a chance, as the LBLOCK cryptocurrency could increase in value over time.
LBLOCK (V1) started its journey in the market in February 2022 with a bang from an initial price of $0.0017 to a peak of $0.00906. Today the Lucky Block value is $0.00001983 at the time of writing and the question is “Will Lucky Block go up any time soon?”
Meanwhile, LBLOCK (V2) started at $0.0021 in August 2022 and is worth $0.00004741 at the time of writing in January 2024. Predictions from specialists suggest that it could continue to decline in the future and maybe crash completely – the Lucky Block forecast is dire.
The crypto project Lucky Block aims to transform the world of online gaming through blockchain technology. Users benefit from a playful experience while accessing NFTs and passive earnings in LBLOCK. Many investors may be drawn to this crypto, enhancing its credibility.
Unfortunately, in addition to the inherent volatility of cryptocurrencies, there seems to be very little interest among investors regarding LBLOCK crypto. The value of daily transactions in Lucky Block reflects this skepticism, with LBLOCK recording less than $50,000 in daily transaction volume.
Lucky Block only has the advantage of being active and supported by some major exchanges. If it can recover interest in the eyes of gamers and investors, perhaps LBLOCK can make a comeback.
As it stands, though, the risk of buying the token is very high and the Lucky Block prediction is uncertain. So, you should conduct some pragmatic analysis if you decide to invest and only invest what you can afford to lose.
About the author
EN Robert Balmes est analyste financier depuis 2013. Il est expert dans les marchés actions, le Forex et les cryptomonnaies. Il participe à l’élaboration d’articles de fond sur des sites spécialisés comme Tokize.com.
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