What Is Bloktopia (BLOK) And How Does It Work? | KuCoin Crypto Gem Observer

2021/11/02 13:59:26

The Metaverse is a big topic right now. It’s an ambitious project that is set to combine and unite different platforms into one universe, breaking down numerous boundaries in the process. The blockchain is predicted to play a big role in the Metaverse too.

That is where Bloktopia sees things going. It’s bringing to the table a decentralized Metaverse that is being built and backed by the Polygon Network. This is in the form of a VR experience that may just bring together the community.

What is Bloktopia?

Bloktopia is a decentralized Metaverse experience. It is taking the form of a tokenized VR Crypto Skyscraper where Real Estate Bloks can be purchased and governed by BLOK token holders.

The skyscraper can be explored by users with their avatar which they take control of in VR. There are a few landmarks that users can explore, such as an auditorium where virtual events can be held, the penthouse where gaming takes place, and even a virtual CoinMarketCap space.

How does Bloktopia work?

Bloktopia is a virtual reality world that takes place within a 21-floor skyscraper. Users are able to purchase ‘Real Estate Bloks’ - which take the forms of NFTs - through a marketplace. These Bloks can then be developed on and so users can create and design it as they see fit.

Users can either own the Bloks partially as a joint owner or as a sole owner. In the case of joint ownership, any changes will be subject to governance through a mechanism that sees the owners voting in proportion to their percentage NFT holding.

A key draw for Bloktopia is the ability to advertise within the Metaverse world. So-called Adbloks can be purchased in order to promote a brand. These can be in the form of totems, ad banners and even radio promotions. Half of the revenue generated from this will be distributed to the NFT holders.

The platform leverages the power of the Polygon Network. However, the Bloktopia wallet where the NFTs are held will support multiple blockchains such as POLY, BTC, ETH BSC and more.

Who created Bloktopia?

Bloktopia was founded by Ross Tavakoli and Paddy Carroll.

Ross is the CEO, having been involved in the crypto space since its early days in 2015. He is experienced and knowledgeable in retail investment. His role is central in making Bloktopia happen.

Paddy is the CMO. He has worked with numerous big brands in the UK before co-founding Bloktopia. His background in marketing will help to drive forward the ad revenue opportunities of the platform.

What is the BLOK token?

BLOK is the utility token of the Bloktopia project. The token distribution is as follows:

Treasury: 33%

Staking: 25%

Team: 15%

Advisors: 7%

Private Round 1: 4.15%

Seed Round: 4%

Early Adopters: 3.9%

Public Sale: 1.4%

Exchange Liquidity: 1%

How does the BLOK token work?

The BLOK token has a few different uses. It is the native token of Bloktopia and so is used as the main currency in the ecosystem. Holders of BLOK will receive exclusive privileges - especially if they hold larger amounts.

The token will also be used as the revenue for advertising and sponsorship. There will also be a rewards program where users can receive BLOK for their participation in community events. Then there is the staking. BLOK can be staked to help run the network and in turn earn attractive APYs.

Closing thoughts

In terms of developments, it doesn’t get more modern than Bloktopia. Combining blockchain with virtual reality in a Metaverse where NFTs take center stage, you can start to see the appeal of this setup.

The project leverages on the communities desire to not only create, but also earn and play - all attractive prospects for the average user. With a market of VR users to tap into, Bloktopia may just be a starting point for new users to enter the crypto world and learn the fundamentals. If it can do that, then it should be well on its way to success.