Lucky Block LBLOCK Token Gains Traction as Sponsored Boxer Joe Joyce Goes Up Against Parker on Saturday
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The world's number one NFT competitions platform, Lucky Block (LBLOCK) has been making headlines recently after sponsoring Joe Joyce in his Saturday the 24th of September bout against Joseph Parker. Lucky Block allows users to enter NFT-based competitions with huge prizes including $1 million in Bitcoin, luxury holidays, and even property.
Lucky Block Joe Joyce Sponsorship
The Joyce vs Parker bout is expected to draw in thousands of viewers and with Joyce acting as a Lucky Block brand ambassador, this could mean big things for both the fighter and crypto project.
This event could prove to be huge for Lucky Block. Over the past year, there has been a sharp increase in the number of crypto ventures looking toward sport for publicity and sponsorship deals. For example, Tezos's deal with Manchester United.
There are a plethora of reasons why this strategy has risen in prominence greatly over recent months. Both cryptocurrency and competitions and sports like boxing share a very similar target demographic, younger tech affluent men. As such, these events can provide huge amounts of highly-target exposure, perfect for helping a brand grow and expand to a new audience.
How Will This Affect LBLOCK?
Over the past week, the Lucky Block price has been consolidating around the $0.0055 region. This is likely the result of anticipation building surrounding the launch of the upcoming Lucky Block token burn program (starting September 30th) as well as the V1 to V2 bridge (releasing October 3rd).
The Lucky Block burn program will remove a sizable 11% of tokens from the supply each month. With the supply of LBLOCK currently sitting at just about 3,650,000,000 tokens, this will equate to a huge 36,500,000 tokens getting burned in the first month alone.
Combine this notable decrease in supply with the release of the highly anticipated V1 to V2 bridge and the massive amount of publicity about to be generated by the Lucky Block-sponsored Joe Joyce fight, and it seems possible that Lucky Block could absolutely explode around the start of October.
While we'll have to wait to see how everything plays out, the Lucky Block team clearly has a plan for generating hype. With multiple key events taking place so close together, Lucky Block should be able to capture both crypto enthusiasts and the wider audience of sports fans, helping to boost demand for both the LBLOCK token and well as the project's entry ticket-style NFTs.