What is Bloktopia? All You Need to Know about BLOK

IntermediateAug 31, 2023
Bloktopia is a tokenized and decentralized metaverse that stretches the boundaries of our minds by creating an all-inclusive virtual realm that entertains, educates, and enables users to earn while at it.
What is Bloktopia? All You Need to Know about BLOK

Introduction

The metaverse is one of the several innovations made popular by integrating with blockchain technology. It is a 3D virtual world where users interact in real time with one another and other digital objects. Although the metaverse concept has been around since Neal Stephenson published his book “Snow Crash” in 1992, the introduction of blockchain technology and advancements in virtual reality and augmented reality have pushed the boundaries, allowing exploration of the metaverse. This has opened doors for highly innovative individuals like Ross Tavakoli and Paddy Carroll, who introduced Bloktopia in 2021.

This article explores the possibilities that blockchain-enabled, metaverse-focused Bloktopia creates. As we delve deeper into the heart of Bloktopia in this in-depth review, we’ll uncover the intricate details that make it an intriguing platform to watch. We will explore the seamless fusion of technology and creativity that has captivated the minds of thousands. Whether you’re an avid crypto enthusiast or a curious observer, this article aims to provide a comprehensive understanding of Bloktopia’s allure and its significance in the ever-evolving world of virtual experiences.

What is Bloktopia (BLOK)? Redefining the Metaverse Experience

Source: ICODrops.Com

Imagine a decentralized and futuristic world where virtual land ownership is a reality, where you can engage in thrilling games, and even advertise to a global audience. Bloktopia is a project that stands at the forefront of this digital revolution, redefining how we interact, play, and conduct business in the virtual realm.

Bloktopia is a tokenized and decentralized metaverse built on a cross-platform game engine, Unity, and backed by Polygon. Polygon provides a scalable and adaptive solution in addition to Ethereum’s security, liquidity, and decentralization, making it the perfect interchain solution to house Bloktopia.

While there are still people needing help to gain a grasp of the crypto world, Bloktopia is creating a world where onboarding just about anyone into the ecosystem is possible. So far, groundbreaking experiences have been created, and Bloktopia’s vision goes beyond just financial gains; they are building a vibrant and dynamic ecosystem that encourages collaboration, learning, and growth. Their dedication to democratizing the crypto space is evident in the positive impact they have had on countless lives.

The global Augmented Reality (AR) industry is experiencing tremendous growth, with projections indicating a significant increase from USD 17.14 Billion in 2020 to an estimated USD 128 Billion by 2028, with a remarkable CAGR of 29% from 2021 to 2028, according to Zion market research. This projection has sparked a surge of interest in metaverse projects, and among the pioneers that led the way were Decentraland and Sandbox, which achieved remarkable success by raking in millions of dollars and gaining massive patronage within the crypto space.

However, the metaverse’s popularity skyrocketed even further when Facebook rebranded as “Meta” in 2021. This event triggered heightened curiosity about the metaverse and riding on this wave, Bloktopia emerged on the scene, captivating the mainstream media’s attention. But unlike other projects, Bloktopia is tasked with the lofty goal of creating an all-inclusive, immersive virtual go-to hub where both crypto newbies and veterans can have access to learn, earn, and network.

History of Bloktopia

Source: Coinmarketcap

Bloktopia was founded by two visionary leaders, Ross Tavakoli (CEO) and Paddy Carroll (CMO). They identified the prevalent problem in crypto; how fragmented and time-consuming it was to gather resources from different channels. They brainstormed solutions to this problem; the goal was to string everything together to make it easy for anyone to navigate the space, saving time for crypto enthusiasts. They tested their hypothesis by having conversations with people who validated their idea, an idea that birthed Bloktopia.

However, one of the drivers of a successful project is capital, Bloktopia has garnered several investments from big brands; On September 27, 2021, Bloktopia announced the close of its $4.2 million private round led by Animoca and backed by multiple brands, including, Jake Paul’s Anti Fund, Bitboy (Ben Armstrong), Kucoin Labs, Polygon, etc. They also announced their Anchor tenants, which occupy the virtual reality skyscraper and can share brand-exclusive content and advertise their offering to Bloktopians. A few examples of these anchor tenants are lead investors such as Bitboy, Polygon, Anti-Fund, etc.

An additional $700,000 was raised through an IDO on October 5th and 6th across four launchpads, namely: Oxbull, Trustpad, Seedify, and Red Kite. $BLOK tokens, the native currency of Bloktopia, were then launched and started trading at $0.006999. However, with the upheaval the crypto market has undergone in the last two years and the bears pulling the weight, the price of $BLOK token has seen a downward trend compared to its ICO price.

The Team Behind Bloktopia

Behind any breathtaking adventure is a fantastic team pulling the weight and overcoming the challenges that come with the job. Meet the brilliant minds and passionate souls behind Bloktopia. It takes people with a sizable amount of experience and talent to dare something like this, aside from the founders (Ross Tavakoli and Paddy Carroll). Simon is another addition to the team; he’s had 25 years of commercial immersive development experience and serves as Chief Technology Officer (CTO). Libby Rothwell has 15 years of experience in the film industry and is Bloktopia’s Chief Information Officer (CIO).

Bloktopia caught the attention of a number of companies as it has begun to make waves. Among those companies are Bitboi, Polygon, Antifunds, and Avalanche, to name a few, each drawn to its potential to revolutionize the gaming industry.

Source: academy.bit2me.com

How does Bloktopia Work?

Source: Cointelegraph

There was a need to unify the crypto ecosystem, and what better way to do it than by creating a tokenized, decentralized, all-purpose hub where crypto lovers, irrespective of their experience, can converge?

Access to this metaverse is free for all, and among Bloktopia’s 21 levels, the most significant are the 1st, 6th, and 21st floors. These floors hold the highest importance, attract the most viewership, and generate substantial revenue due to their unique activities.

Upon entering the 1st floor, Bloktopians, as users are known, create avatars and walk through its tunnel-like entry point to the 1st floor. They’re greeted with a floor map that shows how to navigate; there’s also an option to ask for guidance. The first floor has many stores, including some owned by big brands like Wendy-O, Kucoin, Jake Paul, etc. One of the major attractions on this floor is a teleporting machine for moving between floors.

The 6th is the central learning hub of the metaverse, where users can be educated on the basics of crypto, engage in advanced learning, and attend events, conferences, and Ted talks where they can network with others. The Bloktopia NFT Portal is also accessible here, as well as ATMs for people to buy and withdraw $BLOK tokens.

The 21st floor offers gaming opportunities for Bloktopians to connect and earn rewards such as NFT from their gameplay.

Bloktopia offers a wealth of benefits, like passive income opportunities through staking $BLOK tokens, either in a short, medium, or long-term staking pool with an APY ranging from 20%–60%, and tokens can be locked for 90–360 days.

Other earning opportunities are the purchase of ADBLOK and REBLOK NFTS; however, shortly after these NFTS were launched, their prices quickly went off the roof, forcing the team to create a scheme that makes owning REBLOK and ADBLOK affordable. This scheme is called JOBE (jointly Owned BLOK Enterprise). JOBE allows you to co-own these NFTs with other people with the dividend distributed by the Bloktopia estate management or media management teams.

The team behind Bloktopia, in a bid to create a decentralized and community-focused project, launched Bloktopia DAO on May 9, 2023. The DAO (decentralized autonomous organization) gives Bloktopians the governing right to vote to steer the project in the direction of their choosing; each Blok token equates to 1 vote.

What is BLOK Token?

$BLOK, an ERC-20 token built on the Polygon network. Primarily, $BLOK serves as a utility token within the Bloktopia ecosystem. This utility extends to acquiring various items, such as digital wearable NFTs, REBLOK, and ADBLOK. Also functioning as a governance token, it is pivotal in participating in Bloktopia DAO’s decision-making process. It is also used for investments, with $BLOK tokens staked into pools and JOBES to contribute to the network’s stability and generate passive income. Also, $BLOK is used for purchasing merchandise and other exclusive offerings within the ecosystem.

Additionally, holders of $BLOK can leverage their tokens to access exclusive live events and unlock premium content tailored for Bloktopians. It can be purchased through centralized exchanges such as Gate.io and decentralized exchanges like QuickSwap.

REBLOK

One of the focuses of Bloktopia is real estate. The creators of this metaverse incorporated the purchase of land parcels through the NFT portal in the metaverse using $BLOK tokens; this process is known as REBLOK (Real Estate BLOK). The value of this land parcel is dependent on its location; Parcels on the first, sixth, and twenty-first floors will naturally earn more dividends than in other locations.

The amazing part about owning a REBLOK is that you get to customize it according to personal preference. If the owner wants to profit from his/her investment, they can decide to resell or lease the land parcels.

Further, you can buy REBLOK in single or multiple ownership formats and sizes. In the single-owner model, you purchase a land parcel and can customize and modify its virtual space. In the multiple ownership model, you and other owners collectively manage the REBLOK, and Bloktopian estate management is responsible for onboarding tenants and distributing ROI.

Companies and influencers that already own land parcels in Bloktopia include Elrond, Polygon, Anti-Fund, Kucoin, Jake Paul, Bitboy, etc.

ADBLOK

ADBLOK are NFTs purchased for advertisement purposes. Advertisements are a massive goldmine in the real world; some companies and individuals scramble for space on major advertising outlets to give visibility to their brands. Milking the opportunity, the creators behind Bloktopia created a way to generate revenue for the project. It achieves this by creating totems (advertisement boards) where brands can advertise; five totems are on each of the 21 floors. Like Google Ads, each totem will generate revenue based on impressions gained by the daily active users of Bloktopia, and fees generated will be shared between the owners of the ADBLOK NFTs.

Source: ICODrops.Com

Tokenomics

Token Specification:

Symbol: BLOK

Specification: ERC-20

Network: Polygon (Ethereum Layer-2)

Total Supply: 200,000,000,000 BLOK

Bloktopia DAO voted to reduce the total supply of BLOK tokens by 40%. However, the total number of BLOK tokens burned is 82,759,034,469, equivalent to 41.38%. The goal is to create scarcity, which inadvertently, in the long run, will affect the token price. A retrospective burn was carried out, adjusting the distribution amount for tokens that have not yet been distributed proportionally. In other words, some tokens that were supposed to be distributed will now be reduced in amount due to this retrospective burn.

For transparency and to build community trust, the team published the four wallets that secure the remaining supply of BLOK tokens not in circulation. The following are the wallets:

Staking and Treasury: 66,214,416,619 $BLOK

Presale: 8,800,000,000 BLOK

Team: 18,000,000,000 BLOK

Advisors: 8,400,000,000 BLOK

What Makes Bloktopia Unique?

Source: ICODrops.Com

The following are perks that Bloktopia has to offer Bloktopians to enrich their experience in the metaverse and attract more users into the metaverse:

Learn

Bloktopian focuses on providing learning resources to Bloktopians, helping them stay up-to-date with industry trends. It organizes events and conferences where $BLOK token holders can participate in interactive sessions with industry veterans and gain valuable insights.

Earn

There are numerous earning opportunities in Bloktopia. First, profits can be made from purchasing $BLOK tokens and, during price surges, reselling them. However, there are better opportunities for holding $BLOK, such as purchasing NFTs when there’s a sale opportunity. You can also generate income through the resale or lease of $REBLOK and $ADBLOK. Additionally, $REBLOK holders can run virtual businesses, selling valuable merchandise in the metaverse, thereby earning cool cash.

Play

The 21st floor serves as a penthouse for Play-to-earn games, enabling users to engage with other players in GamePlay and earn attractive rewards in the form of fungible and non-fungible tokens. Bloktopia is a hub to relax, have fun, and earn simultaneously.

Network

Bloktopia offers an immersive experience; it is a more socially engaging tool to meet people who share similar interests as you. On the 6th floor, you can participate in concerts and sporting events where you can form social interactions with people.

Is Bloktopia (BLOK) a Good Investment?

The fundamentals of Bloktopia revolve around three pillars: play, earn, and learn. The project has garnered a lot of attention and in partnership with notable brands namely Elrond, Polygon, Bitboy, Antifund, Animoca, etc., which signifies a serious commitment to growth and to retaining visibility.

Additionally, Bloktopia has proven to have a long-term plan and a consistent stream of new ideas and innovations, consequently, it appears well-positioned for sustained success, making it a good long-term investment opportunity. However, the crypto space is a highly volatile environment, and no one can confidently predict the exact future. While historical data and due diligence are important in driving decisions, caution is crucial before reaching a final investment verdict.

How to own BLOK

You can buy BLOK from centralized and decentralized cryptocurrency exchanges. For example, Gate.io offers traders different trading pairs: BLOK/USDT, and BLOK/ETH. To own the token, create a Gate.io account, and complete the registration process. Also, you need to fund your spot trading wallet and go through the steps to buy BLOK.

Highlights

Source: Bloktopia

Blocktopia Launches a New Product Suites

On July 13, 2023, Bloktopia announced the forthcoming launch of a suite of products, M3TA, which will change the virtual realm and provide users with an immersive experience. M3TA is said to merge the “Metaverse” and “Web 3.0” concepts, M3TASPACES, M3TAPASS, and a new, undisclosed product are part of this suite, and they will offer an immersive experience, making Bloktopia even more interesting. M3TAPASS will also act as the passport to access the world of Bloktopia.

M3TASPACES will be accessible from any computer through Vagon. M3TAPASS is a new app that will act as a gateway to the Metaverse. Also, Bloktopia will be launching a game-changing, previously undisclosed product.

Blocktopia Introduces a New Token: $BLOKN

Most recently, Bloktopia announced the creation of a brand new sub-token to the Bloktopia ecosystem, @bloktopia/bloktopia-introduces-blokn-a-reward-token-solely-redeemable-against-nft-purchases-17079f323364">called $BLOKN. This will serve as a reward mechanism for users participating in specific staking pools. Unlike $BLOK, $BLOKN will not be tradeable, its sole utility will be a means to purchase $REBLOK and $ADBLOK.

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Author: Paul
Translator: Piper
Reviewer(s): Matheus、Piccolo、Ashley He
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