The Lucky Block crypto has planned an NFT jackpot prize draw for mid-May, in which one NFT holder will receive a $1M.
Lucky Block, a “worldwide games & competitions platform with play-to-earn rewards using blockchain protocols“, is conducting a one-time NFT jackpot to demonstrate the utility of its native token LBLOCK to NFT holders and investors.
The actual date and time of the prize draw, which will take place in mid-May, is expected to be disclosed soon.
Entrants must purchase and hold a Lucky Block NFT, one of the project’s limited supply of 10,000 Platinum Rollers Club NFTs, to be eligible for the draw. Each NFT has a 1 in 10,000 chance of winning.
So far, around a quarter of the 10,000 Lucky Block NFTs have been purchased, increasing the chances of winning the NFT jackpot because holding one is the only way to participate – they operate as an entry ticket to the jackpot that NFT holders can win.
Lucky Block has also planned a follow-up NFT jackpot once all 10,000 NFTs have been sold, with the first reward being a Lamborghini sports car.
The reward pools for those are based on 2% of the main Lucky Block prize pool for worldwide contestants who purchase a ticket without possessing an NFT or LBLOCK tokens. According to the developers’ BScScan data, the prizepool is currently worth $2.2 million.
There are 25 ‘rares’ in the Lucky Block NFT collection that, when held, increase the size of any winners from the daily NFT jackpots.
NFT projects that include some type of play to acquire functionality, staking incentives, or other passive revenue perks have historically fared better and increased in value more than NFTs that just focus on their artwork and being a limited edition collectible.
So NFT jackpot giveaways are a fresh use case that, if carried out as described in mid-May, might result in an increase in the value of the LBLOCK token and the NFT collection, also known as the Platinum Rollers Club.
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