As two collaborative projects, GamesPad and BullPerks are launching the NFT lottery feature.  According to the projections, the NFT market will grow to around $150 billion between 2021 and 2026. To keep up with innovations and deliver additional value for its community, GamesPad collaboratively with BullPerks is launching the NFT lottery on its marketplace that will allow participants to win exclusive NFTs from different art collections. This new feature will also offer additional benefits to $BLP and $GMPD token holders.

Additional benefits for $BLP and $GMPD holders

To participate in a lottery, users will need to place bids in either $BLP or $GMPD tokens. N.B. Lotteries for $BLP and $GMPD token holders will be held separately on the GamesPad NFT marketplace. During these events, we will auction NFTs from different art collections.  To reduce the supply of tokens and potentially grow their value, GamesPad and BullPerks will be burning a portion of their tokens swapped for NFTs after the lottery ends. Besides our goal to provide all Crypto Bulls with a unique opportunity to win NFTs of BullPerks, GamesPad, as well as our partner companies, we also aimed to stabilize the volatility of the $BLP token and support its value growth in the long term.

How Does the NFT Marketplace Lottery Work?

An NFT Lottery will be held weekly or bi-weekly, depending on the preferences of our community. Participants will have limited time and bid restrictions (minimum and maximum bid) set by an administrator. All NFTs will be transferred to the smart contract, so all the processes will be as transparent as possible. When the lottery ends, a smart contract will randomly choose the lucky winner who will receive an auctioned NFT. A new lottery feature is an additional use case of $BLP token that will help potentially increase its value. This is why the BullPerks team is confident that running a lottery positively influence the growth and development of our entire platform. We are not stopping here, so stay tuned for more exciting news, features, and product updates from BullPerks.

What is a token burn?

Token burn or token burning is a strategy performed by crypto projects to potentially increase the token price. It is an intentional action aimed to remove a specific amount of tokens from circulation, thereby increasing their value and scarcity. In this process, the system will send a portion of burned tokens to an 'eater address,' also known as a 'blackhole.' After that, no one can access them, so tokens will disappear forever.

How does the NFT Marketplace lottery work?

An NFT Lottery will be held weekly or bi-weekly, depending on the preferences of our community. All participants will have to place their bids for NFTs in either $GMPD or $BLP tokens (depending on whether the event is held for $BLP or $GMPD token holders) within these limitations before the lottery ends. All NFTs will be transferred to the smart contract, so all the processes will be as transparent as possible. When the lottery ends, a smart contract will randomly choose the lucky winner who will receive an auctioned NFT. A new lottery feature is an additional use case of $BLP token that will help potentially increase its value. This is why the BullPerks team is confident that running a lottery positively influence the growth and development of our entire platform. We are not stopping here, so stay tuned for more exciting news, features, and product updates from BullPerks.

About BullPerks

BullPerks is the fairest and most community-dedicated decentralized VC and multichain launchpad. Unleashing the power of the blockchain and a decentralized venture fundraising model, BullPerks offers tremendous opportunities to everyone willing to invest in the best crypto projects on equal terms with VCs. The platform is entirely oriented toward the community and provides users with low entry and access to early-stage projects. With its new self-regulation policy for a safe IDO launch, BullPerks is establishing new standards of professionalism and accountability in the space.