We consider the energy critical Landau-Lifschit map flow with the target of two dimensional sphere for equivariant initial data of homotopy index $k=1$. We exhibit a set of initial data arbitrarily close to the least energy harmonic map $Q$ in the energy topology such that the corresponding solutions blow up in finite time. We also give a sharp description of the singularity formation. This talk is based on the joint works with Jacek Jendrej, Jitao Xu and Xu Yuan.