Hotly-tipped crypto lottery Lucky Block raced to a $140 million valuation within days of its launch, and is now targeting a Binance listing in February.
The blockchain-based lottery platform, which gives players better odds and more transparency than traditional lottery games, also oversubscribed its presale and hit its hard cap 11 days earlier than predicted.
The crypto-powered ‘People’s Lottery’ raised $5.7 million from investors in its presale.
Lucky Block’s completed CoinGecko and Coinmarketcap listings saw it valued at $140 million within two days of its trading debut – and it’s since grown to $200 million.
Further upward price pressure is expected on its total supply of 100 billion tokens.
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Just over 24 hours from being listed on decentralised exchange PancakeSwap, the price reached $0.001238 – a gain of 854% for investors who bought in the presale at a price of $0.00015.
Buyers who took advantage of the second presale price of $0.00019 are sitting on a 653% gain, Lucky Block says.
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Lucky Block completed its presale with 8,611 holders – a figure that has since topped 17,000 – as it looks to start trading on centralised exchanges FTX and Crypto.com.
The lottery platform is promising to disrupt the $300 billion global lottery industry – giving 10% of ticket sale revenues to charities and offering players better odds and more chances to win.
All holders of the LBlock token are eligible for dividend payments whether or not they buy lottery tickets.
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Lucky Block has given $5,000 to the British Red Cross as part of its ongoing commitment to good causes – a first for a crypto project.
It also boosts its environmental, social and governance (ESG) credentials by running on the energy-efficient Binance Smart Chain, and gives every holder of its token a stake in the lottery.
Commenting on the launch, Lucky Block’s chief executive officer Scott Ryder said: “Achieving a market cap valuation of more than $140 million after raising $5.7 in our presale is an achievement that sets us on a path to hit all our roadmap milestones as we set out to challenge the traditional lottery operators around the world.
“We are now looking to roll out our – up until now – largely UK-focused outdoor advertising campaign to other global cities, as we pursue listings on major crypto exchanges.
“We should be on FTX and Crypto.com fairly soon, with Binance to follow, although we can’t say too much about that just now. Our social media channels will keep everyone up to date.”
James Fennell, chief strategy officer of Lucky Block, commented: “We think that it is time to turn the promise of blockchain and so called ‘Web 3.0’ decentralised networks into a reality at the level of consumer mass adoption.
“At the moment we are working hard to deliver on our vision for a global lottery open to all and owned by its players.
“Key to realising that strategy is our app launch in March. The app will make playing the lottery and tracking winnings easy, as well as being the place where token holders can see their dividend payments compound and track the passive income they are earning.
“As we continue to build out our offering, which at a later date will include gaming, NFT and metaverse products, we will work towards achieving one of our other strategic goals – advancing our mission to transform philanthropy, in part through setting up our global not-for-profit Lucky Block Foundation.”
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Full information about Lucky Block can be found on the official website: luckyblock.com
Featured image: Unsplash
Business
Sunday Times Rich List – Sir Jim Ratcliffe remains richest man in North West despite losing £6bn
Daisy Jackson
The Sunday Times Rich List has today been released, revealing that Sir Jim Ratcliffe remains the richest man in the North West, and third-richest in the country.
The annual list names the richest of the rich across the UK, and the combined wealth of the 350 individuals and families listed in 2024 amounts to more than the GDP of Poland at £795.361 billion.
As well as Sir Jim Ratcliffe, who remains on the Sunday Times Rich List despite losing more than £6bn this year, other famous names include David and Victoria Beckham, Sir Elton John, and Lord Lloyd-Webber.
Representing the wealthiest in the North West are Michael Platt, The Duke of Westminster and the Grosvenor family, and Home Bargains boss Tom Morris.
The billionaire Issa brothers who own Asda and founded EG Group complete the top five richest people regionally.
Local man Sir Jim Ratcliffe, who made his billions through chemical giant Ineos, has almost double the wealth of runner-up Michael Platt.
He recently ran the London Marathon at the age of 71 and secured a 25% stake of his childhood football club Manchester United.
The Duke of Westminster, who inherited his title and a huge land and property portfolio at the age of just 25, remains the richest person under 40 in the UK.
Now 33 years old and recently moved to Cheshire, his fortune now stands at £10.127 billion.
He’ll soon lose his title as the ‘UK’s most eligible bachelor’ though, with the Duke set to marry Olivia Henson at Chester Cathedral next month.
Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.
“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.
“These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides.
“We know many of our readers find such people — especially those from humbler backgrounds — very inspiring.”
The minimum entry to get onto the mega-rich list this year is a whopping £350m.
Teens could be recruited as train drivers to help ‘improve’ Britain’s railways amid ongoing strikes
Emily Sergeant
Teenagers could soon be recruited as train drivers in a bid to help “improve” Britain’s railways, the Government has announced.
Amid what have been ongoing strikes for the past couple of years now, and following on from the announcement back in February that ASLEF train drivers at several train companies and operators had voted ‘overwhelmingly’ to continue taking industrial action for another six months, the Government has now proposed lowering the minimum age to become a train driver from 20 to 18.
A consultation on the somewhat-controversial move is to be launched as part of the Government’s efforts to open up more careers in the rail sector to young people.
Ultimately, transport ministers believe this could “improve the reliability of rail services” across the UK.
Teens could be recruited as train drivers to help ‘improve’ Britain’s railways amid ongoing strikes / Credit: National Rail
This surprising recruitment drive announcement comes after the Government has revealed that the train driver workforce is projected to shrink without opening up more opportunities for new recruits in the near future – especially given the fact the average age of a train driver in Britain is 48 years old, and many are set to retire within the next five years or so.
Under the new proposals set to go out to consultation, the Department for Transport (DfT) will create a new pathway for school leavers to take up apprenticeships and train to join the profession.
If agreed following the consultation, the new regulations to lower the minimum age for train drivers from 20 to 18 could be in place as early as this summer, according to the Government, which will apparently “help set thousands of young people on track to a career in transport” once they’ve bid farewell to their school days.
The Government says its proposal to lower the minimum age would “build resilience” across the railway.
The Government has launched a consultation of the lowering of the minimum train driver age / Credit: Northern
Not only is the proposal said to form part of wider Government plans to create more opportunities where young people can gain the skills they need to succeed, all while generating more jobs that lead to a “productive” and “high-skilled” economy, but transport ministers believe attracting more young train drivers would help the rail industry provide a “more reliable service” for customers when other staff are off sick or on annual leave.
By opening up the sector to young people, the Government claims this would be “a positive step” and one that directly benefits passengers.
“We want to open the door for young people considering transport as a career, and this proposal could give school-leavers a clear path into the sector,” commented Rail Minister, Huw Merriman, as the proposals were unveiled this week.
We're asking for views on lowering the minimum age requirement to become a train driver in Great Britain from 20 to 18.
This could open the door to thousands of new opportunities for young people in transport.
“By boosting age diversity in the sector and attracting more drivers, we can help support reliable services while creating opportunities for more young people.”
If the proposals are introduced, the Government says all prospective train drivers, regardless of their age, will continue to be held to the same stringent training requirements as before to ensure the safe use of our railways for everyone.
To become a licensed train driver in the UK, trainees must pass mandatory medical, psychological, fitness, and general professional competence examinations.