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.
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.
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.
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.
Credit: Unsplash
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.”
Full information about Lucky Block can be found on the official website: luckyblock.com
Featured image: Unsplash
Business
The Spirit of Manchester confirms bar closure as Manc hospitality takes another hit
Danny Jones
Manchester has been hit by yet another gutting hospitality closure as The Bar at The Spirit of Manchester Distillery, formerly known as Three Little Words, has confirmed they have shut down effective immediately.
The stunning spot set up as The Spirit of Manchester Distillery’s dedicated, customer-facing city centre venue and second home under the arches, opened back in 2019, offering a cocktail, gin-making and tasting experience, as well as a restaurant.
But fast forward six years, and now the once-beloved Three Little Words bar has sadly closed, largely citing the same economic pressures everyone has faced post-pandemic.
Writing an emotional farewell post on LinkedIn, Spirit of Manchester co-founder and master distiller Seb Heeley said: “This is a post I never thought I’d have to write. 9 years ago, we set out with a dream to build something that would represent the spirit of Manchester from the humble beginning in our dining room.
“We were fortunate enough that people embraced our vision, and 6 years ago we embarked on an over million pound project to bring 6 forgotten, abandoned arches beneath the iconic Manchester Central back to life to show the best the city has to offer.
“Unfortunately, COVID changed the playing field 5 years ago, and over the last 2 years, running a city centre hospitality business, we have been hit with a perfect storm of rising costs, taxes and pressure on customer wallets that has ultimately led to an unsustainable business model.
“It is with the heaviest of hearts that we have to close our customer-facing operation on Watson Street today. It’s the amazing team that I feel most sorry for, as it’s their commitment over the last 6 years that has made this building feel like our forever home.”
Heeley goes on to say: “If anyone on my network is looking for new recruits, I couldn’t speak highly enough of our whole team. Please get in touch with me about any opening you may have.”
Writing a further statement on the bar’s Instagram page, they described the moment as ‘heartbreaking’, adding that they “couldn’t be prouder of [their] team” and the accolades achieved over the bar’s lifespan, both as Three Little Words and in its most recent iteration.
Seb and his wife, Jen Heeley-Wiggins, say they saw the stunning Watson Street site archway as the “forever home” for the business – it’s not hard to see why.
Having also housed local culinary offerings like Etana, too, it’s sad to see such an eye-catching part of the city’s dining scene fall victim to the ongoing industry pressures and cost-of-living crisis.
Even if you’ve never been, you’ll have passed a bottle of Manchester Gin countless times. (Credit: The Manc Eats)
The pair signed off by saying: “While this is the end for our experience centre site, Manchester Gin will continue to be made in the city and hopefully enjoyed for years to come.
“Obviously, this is a difficult time for all of us, so please bear with us while we go through this transition. Thank you.” Online orders have also been briefly paused as they look to lay out clearer plans for the future, and we can only hope they come through the other side more stable.
In what has been a heartbreaking start to the week, this marks the third high-profile food and drink casualty in central Manchester alone in the space of just the last two days, with the news of Salvi’s shutting their Deansgate Square location being followed up by another NQ closure barely hours later.
Safe to say it’s more apparent than ever that our hospitality sector needs better support and fast.
Salford City FC confirm former Manchester United shirt sponsor as latest commercial partner
Danny Jones
Salford City FC have announced a former Manchester United financial partner and well-known shirt sponsor as their latest commercial partner.
The local League Two, helmed by the consortium consisting of ex-Man United players most commonly known as the ‘Class of ’92’, now share even more in common with the Red Devils beyond just the colour of their shirt and some old personnel.
However, the Greater Manchester side has struggled to progress in recent years, so the owners have continued to look to generate further revenue when it comes to the business off the pitch; cue the return of a familiar logo and, arguably, one of the most recognisable sponsors to ever feature on a footy kit.
While it may not be featuring pride of place on the front of their shirt – that position still belongs to Fireball Whisky following their July 2024 deal – as it once did for Manchester United, Salford City have welcomed the American International Group (AIG) as a new minority equity investor.
Announcing the collaboration on social media, the ambitious Ammies wrote: “AIG’s investment in the Club is a powerful endorsement of the model we’re building, aligning world-class partners with a football-first vision grounded in ambition and long-term commitment.
“Together, we’re accelerating Salford’s next chapter and laying the foundation for lasting success, on and off the pitch.” AIG were paired up with MUFC from the 2006/07 campaign to the end of the 2009/10.
AIG are the first Fortune 500 company to back a League Two outfit in EFL history.
Beyond already being a multi-national insurance group, they were famously partnered with one of the most decorated Man United teams of all-time and therefore share part of the visual legacy by serving as the front-of-shirt sponsor for one of the most iconic shirts of all time.
We’re of course referring to the 2007 home jersey, which was worn by the likes of Wayne Rooney, Cristiano Ronaldo, Carlos Tevez, Paul Scholes and more as they won the 2008 UEFA Champions League final, before the kit was kept for 08/09 as well.
Of course, the firm itself is no stranger to sporting crossovers; as well as sponsoring Manchester United at the peak of their powers, they also sponsor the likes of the Ladies Gaelic Football Association, the AIG Women’s Open and lots more golf in Ireland.
Speaking on the new deal, SCFC co-chair Declan Kelly, added: “Partnering with AIG, a world-class organisation under the outstanding vision and leadership of Chairman and CEO Peter Zaffino, represents another major step forward in the evolution of Salford City FC.
“It proves what’s possible when global investment aligns with a football-first approach. AIG is committed to helping Salford achieve its vision of becoming the best small club in the world, and their investment, both financially and strategically, will help accelerate our next phase of progress.”
With Salford having called for new investors in February 2024, this is the kind of backing they were no doubt hoping for, with AIG also expected to help fund key upgrades to the Peninsula Stadium and more.
As for on the pitch, there’s been plenty of movement in the transfer market already this summer window, with the return of a highly-rated young goalkeeper being one that has delighted fans in particular.
The Manc -
1st February 2022 
