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.
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.”
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Full information about Lucky Block can be found on the official website: luckyblock.com
Featured image: Unsplash
Business
How much money Manchester United spent on Dan Ashworth only for him to leave five months later
Danny Jones
Manchester United’s ‘new’ sporting director Dan Ashworth only made the move to Old Trafford back in July and now, just five months later, he has officially left by ‘mutual agreement’.
Announced over the weekend, not only did the news come much to the surprise of United fans but given that his appointment was confirmed long before his start date, Ashworth actually spent almost just as long not quite having joined the club as he did on the job. Sounds messy, we know – because it is.
In short, both Newcastle and now Manchester United’s 53-year-old ex-sporting director was placed on gardening leave back in February after a clear approach by what would be his short-lived new home.
They also paid the North East side a large sum to secure his services – far from a measly number when you consider where else they’ve pinched pennies this year…
INEOS at Manchester United:
– Got rid of Dan Ashworth after five months having had him on gardening leave for the same amount of time. Oh and paid £3 million for him.
– Put ticket prices up to £66 for everyone, including children and pensioners.
To put things into context, while in footballing terms £3 million might not sound like a lot of money (the industry being as overinflated as it is), when you take into account what that money could have gone towards, it doesn’t necessarily make for great reading.
Oh yeah, you also have to tot up how much he was paid as his regular wage during a five-month stint in which even more money was spent on players and those hoping to grab a ticket to one of the remaining games this season (we’re not even in Christmas yet) were asked to fork of £66 for the privilege.
The technical director for the FA’s elite development programme will have likely been on a higher wage in Manchester than he was in Newcastle, where he is said to have taken home around £1.5m a year, and probably notched a good chunk of that amount in less than half a year.
Even operating on the assumption that the INEOS Group matched his rate at St James’ Park, this means that he will have made at the very least an estimated £625k since switching Uniteds.
Add that on top of The Times‘ claims that the actual compensation figure Jim Ratcliffe and co. paid to release him from his previous role were actually upwards of the reported figure, then you’re looking at something closer to over £5m for as many months of work.
Manchester United sporting director Dan Ashworth left his role after just five months.
Just as a reminder, roughly £200m has been spent on new players since Ashworth took up the position and 250 staff members were made redundant from various roles throughout the club, which was also said to have tacked on another £8.6m to the overall expenditure.
Although exact details are still yet to be fully verified, Ashworth and the new United hierarchy have clearly clashed: it is thought he was lumped with the decision to keep Erik ten Hag and extend his contract before his eventual sacking and also made clear suggestions as to his replacement.
It is also thought Ashworth had tipped other frontrunners to replace the Dutchman instead of new head coach Ruben Amorim, who CEO Omar Berrada to tie down before his former employers Manchester City could line up as Pep Guardiola’s eventual successor.
Whatever ultimately comes out in the wash, we think it’s fair to say it all sounds like a bit of a shambles and the atmosphere around the club – especially following the recent protests over increased ticket prices – looks to be less than rosy once again.
One thing is for sure, like most of those who have attempted since Sir Alex Ferguson, the new manager has walked into a much bigger task than he could have ever predicted and given the Ashworth developments, recent sackings and fan frustration on multiple fronts, United could really do with a win.
Featured Images — BT Sport (screenshot via YouTube)
Business
Government announces £250m plans to create thousands of new jobs in Greater Manchester
Emily Sergeant
Thousands of new jobs are set to be created at a ‘research and innovation hub’ in Greater Manchester, it has been announced.
Keir Starmer is currently visiting the Gulf, and as part of the UK Government’s intent to “drive investment” into various cities and regions nationwide, the Prime Minister has now announced plans to pursue closer ties with the United Arab Emirates (UAE) and Saudi Arabia – who he says are some of the UK’s “most vital” modern-day partners.
According to the Government, this part of the ‘Plan for Change’ will increase investment, deepen defence and security ties, and boost growth and new opportunities, both here in the UK and abroad, in a bid to to “deliver change that is felt by working people”.
It’s the north of England that will “reap the immediate benefits” from the closer cooperation of the UAE and Saudi Arabia, the Government claims – particularly here in Greater Manchester.
The Prime Minister has announced £250m plans to create thousands of new jobs in Greater Manchester / Credit: Lauren Hurley / No 10 Downing Street (via Flickr)
Manchester-based Graphene Innovation Manchester (GIM) has now launched the world’s first commercial production of graphene-enriched carbon fibre, along with Saudi Arabia’s NEOM Giga-Project, which is said to be a “groundbreaking step forward” in the delivery of environmentally sustainable advanced materials.
The project is aiming to generate £250 million of investment into a research and innovation hub in Greater Manchester.
More than 1,000 skilled jobs are also expected to be created in our region.
Hydrogen buses, trucks, critical components, and other elements of hydrogen production and distribution will be created over the lifetime of the project, all while removing more than 25 million tons of transport-related CO2.
This government’s long-term missions – and ambitious but achievable milestones – will deliver change for working people. pic.twitter.com/gyc74tf0O0
The Prime Minister says every region and nation in the UK “should feel the impact” of the ‘Plan for Change’, but the North will benefit first.
“I am determined to ensure international diplomacy drives local results,” Starmer said.
“Whether that is discussing how we can support regeneration in the UK, or supporting business deals that create jobs, my international agenda starts at home.”
Greater Manchester will also be benefitting from significant Saudi investment in housing too, the Government says – with International Investment Gate injecting £41 million into the regeneration of Brunswick Mill in Stockport to create 277 flats and 24 commercial outlets, and support the Prime Minister’s milestone to build 1.5 million homes by the end of his tenure in Parliament.
The Manc -
1st February 2022 
