Luckbox’s LuckCash & LuckProfit Crypto Tokens For eSports Betting
Luckbox, found online at Luckbox.com, is developing a fully licensed eSports betting platform. Find out how it plans to work today in our review.
What Is Luckbox?
Luckbox is a global eSports betting platform that allows fans to bet, watch, and chat in a safe environment using cryptocurrencies, in-game items, and cash. The platform is in active development. At launch, Luckbox plans to be a fully licensed betting platform dedicated specifically to the global eSports community.
The Luckbox whitepaper specifically mentions games like CS:GO and League of Legends as two of its targeted markets.
Luckbox players can use the platform’s own token called LuckCash to participate in the ecosystem.
The Luckbox platform is being developed by a team with experience in the online gaming and eSports industries.
How Does Luckbox Work?
Luckbox will allow fans of games like CS:GO and League of Legends to bet on all of their favorite events while also enjoying an eSports-themed casino.
The goal is to create a fully regulated gambling platform where players can engage with fellow eSports fans and their favorite games in a safe and secure environment.
Another unique feature of Luckbox is the diverse range of options available for bets. Gamers can bet in-game items and fiat cash, for example, as well as LuckCash tokens and other cryptocurrencies. Bettors who transact with LuckCash will enjoy various advantages.
Luckbox will also have a separate token called LuckProfit that functions more like a security, while LuckCash is more of a utility token. As a LuckProfit token holder, you’re entitled to a cut of 20% of the profit generated by Luckbox.
Luckbox is actively in development. At launch, however, the platform is expected to include all of the following features:
- Supports a wide variety of games (LoL, Dota 2, and CS:GO are all specifically mentioned in the whitepaper)
- Regulated for player safety, capable of operating in all major countries around the world
- Accessible from app stores
- Bet using cryptocurrencies, fiat currencies, LuckCash, and in-game items
- Live streams of eSports events
- Available on desktop, tablet, and mobile devices
- Support for grassroots eSports initiatives
- Fans and bettors can access exclusive content through the Luckbox platform, including videos, interviews, and insight
- An eSports training academy where players can learn to become pros
- Engaging player experience based on behavioral analytics, including Luckbox rewards, achievements, VIP systems, and more
- In the future, Luckbox will develop its own in-house games
How Do Luckbox Tokens Work?
Luckbox will launch its own utility token called LuckCash. There will also be a secondary token called LuckProfit.
LuckCash is a utility token with distinct advantages during the token sale and after launch. On the Luckbox platform, LuckCash will reduce payment friction for players in many regions. The token can also be used to enjoy various benefits, including attaining rewards faster and making purchases in the VIP store.
LuckProfit can be purchased by qualified investors after the Luckbox platform is launched. Qualified investors can purchase LuckProfit tokens at a 1:1 ratio. As a LuckProfit token holder, you earn rights towards 20% of company profit.
Ultimately, Luckbox has two tokens. LuckCash is a utility token used for transactions within the Luckbox ecosystem. It conveys no rights no token holders. LuckProfit, on the other hand, is available to accredited investors and provides users with rights to 20% of company profit.
The Luckbox LuckCash & LuckProfit Crypto Token Sale
Luckbox is holding its token sale for LuckCash tokens between January and March, 2018. The company has set a hard cap of $20 million USD for the token sale.
LuckCash tokens are pre-minted ERC20 tokens on the Ethereum blockchain.
You will not be able to purchase LuckProfit tokens during the crowdsale. You’ll only be able to purchase those tokens (as an accredited investor) after the platform launches.
Of the total supply of LuckCash tokens, 34% are allocated to the crowdsale. Remaining tokens are allocated to strategic investors (27%), a user adoption pool (20%), a company reserve fund (10%), the team (3%), advisors (3%), and influencers and promotions (3%).
The Luckbox pre-sale is scheduled for January 22 to February 15, 2018.
The crowdsale is scheduled for February 15 to March 1, 2018.
Luckbox also held a private sale in September 2017. The company raised 483.5 BTC during that token sale from early contributors.
What Problems Does Luckbox Seek To Solve?
Some of the problems identified in the Luckbox whitepaper include:
- There is rapid growth in the eSports sector, but the market is underserved when it comes to gambling platforms
- Some existing gambling platforms are operating without being properly regulated; some are outright illegal, while others operate in a grey area
- A lack of compliance prevents entry to app stores (like the iOS and Android app stores) and payment processors (like credit cards or banks), which means limited access to players on mobile devices and limited accessibility with popular payment options
- Despite the problems, there are millions of potential bettors around the world
- Legitimate operators have enjoyed success, but nobody has yet fully capitalized on the opportunities available
Luckbox sees the lack of a market leader as a legitimate opportunity to capitalize on the sector. Luckbox aims to be that market leader.
Who’s Behind Luckbox?
Luckbox’s team aims to combine their passion for eSports and their wealth of gambling industry expertise together to create a successful platform for the eSports betting industry. The team also has firsthand experience with licensing, finance, product development, and marketing. Members of the team have worked with “some of the most influential figures in eSports,” explains the official website, “and held senior roles with global igaming brands, including PokerStars, Full Tilt and BetStars.”
Key members of the Luckbox team include Lars Lien (CEO and Co-Founder), who has a decade of operations management experience in gambling, digital currencies, and gambling pioneers like PokarStars and Sony Online Entertainment.
Other listed members of the team include professional poker player, crypto trader, and investor Mike Stevens (Co-Founder), chartered accountant Archie Watt (CFO), and Boris Mihov (VP of Product).
Luckbox is registered under the corporation Real Times Games Holdings Limited, which is registered in the Isle of Man.
Luckbox is an online eSports betting platform in active development. That platform seeks to capitalize on the global demand for eSports. In today’s eSports industry, there’s a lack of a major betting platform – despite the huge demand for one around the world. Luckbox will address that demand by creating a global, regulated platform for bettors and fans worldwide.
Keep up to date on more information about Luckbox by visiting online today at Luckbox.com. The token sale is underway until March 1, 2018.