Metaverse/gaming projects like Decentraland and Axie Infinity ruled the 2021 charts by welcoming millions of users into their ecosystem. While the idea of metaverse has been around for a while, its tech developments have not adequately explored monetization opportunities other than in-game earnings. Some also lack functional community building tools. Bloktopia brings together an unprecedented VR experience and several opportunities for the crypto community to earn, play, create and learn in an immersive and engaging environment. Today, we delve into this metaverse.
Bloktopia is a decentralized metaverse built and backed by the Polygon Network. Bloktopia metaverse is a skyscraper with 21 levels - the number 21 pays recognition to the 21 million bitcoins. The token holders are called Bloktopians in the metaverse.
The platform will act as a central hub welcoming users with all levels of crypto experience. Users can access all kinds of crypto information, immersive content and earn revenue through various income streams including real estate ownership, advertising, playing games and building networks.
Bloktopia uses a highly advanced real-time 3D Creation Engine and leverages this technology for creating stunning visualizations and user experiences. Users can also create their own scenes, artworks, challenges, etc., by using the builder tool. They can take part in events and win prizes. More experienced users can use the SDK tools to create social games and applications within the metaverse.
Bloktopia will also work with key brand partners and give them opportunities to advertise within Bloktopia. A proportion of the advertising fees will be redistributed among the Bloktopians.
BLOK is the native token of the Bloktopia metaverse. The BLOK token can be used to purchases within the metaverse, such as upgrading real estate space or purchasing items from within the marketplace. All the BLOK tokens received from virtual real estate sales will be burned to decrease the supply. BLOK token has a total supply of 200 billion, while its current circulating supply is just 8.3 billion.
BLOK is trading at $0.0215 today with a decline of 4% from the previous day. It is currently ranked among the top 300 cryptocurrencies by market cap.
Source: TradingView, Kucoin
BLOK has undergone a correction since November, losing a whopping 88% of its value over the past quarter. It has traded in a fairly long descending parallel channel since December. Signs of bottoming have emerged though, with the token remaining tightly rangebound over the last few weeks. With some more consolidation at the current support level of $0.02, we may see an attempt to break resistance at $0.027 and subsequently at $0.043.
Metaverse-themed crypto tokens are amassing huge popularity in the crypto sphere. Bloktopia’s unique and multi-dimensional universe, strong fundamentals, and a growing user base supplement the huge potential of its ever-changing metaverse. Bloktopia has several investors, including Animoca Brands, backing it. Other notable investor names include AU21 Capital, Magnus Capital, Polygon and Avalanche.
Notable points to consider for new investors are 1) its tokenomics – only 4% of its total supply is in circulation (for Bitcoin, this is more than 90%) and 2) investors who have seen a substantial decline in the last 3 months may exit when the token price recovers leading to a sell off.
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Disclaimer: This article was authored by Giottus Cryptocurrency Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.