by David Drake
Imagine how many businesses would be unlocked if every developer gets the building blocks he or she needs to contribute to the growing virtual economy. Developers of digital goods will soon be able to explore new ways of generating revenue by traversing real and virtual worlds and engaging end users fast. This will be possible on BLOCKv, a Swiss startup that allows the creation of tokens on any blockchain.
Led by Reeve Collins, the BLOCKv team is reinventing the marketplace for digital goods. They are providing the tools needed by developers to contribute to the virtual economy. As an interface to the blockchain, BLOCKv increases the value developers derive from the virtual world exponentially. As a result, developers can generate regular tokens as well as tokens with coded instructions and multimedia components.
To bring about a new virtual economy, BLOCKv is developing digital goods that can work on any virtual platform. These objects can be owned, authenticated and controlled to maximize value. Users can exchange these digital goods with physical goods, thereby merging the real with the virtual world. BLOCKv’s virtual goods are also unique and distinguishable at the object level.
Why should developers work with BLOCKv?
The present-day virtual market is expanding fast. It is vast, diverse and comprises many industries. Increasingly, digital objects are becoming a central part of people’s experiences.
From digital cards and in-game goods to digital music, books, art collections and items exchanged on social spaces, each industry demonstrates immense potentials. Despite the high permeation level of virtual goods into the economy, their full impact is yet to be felt globally.
Virtual goods cannot be physically owned and digital goods are basically held in silos. The missing interface between the virtual marketplace and the real world hinders interoperability and scalability. Through a new asset class powered by blockchain technology, BLOCKv addresses these gaps.
In its whitepaper, BLOCKv identifies the gaming and AR/VR as some of the industries with high virtual potential:
“The in-game virtual goods market volume is roughly $15 billion. At the moment, this market is the closest one to a virtual goods economy, but it still experiences severe limitations. Nevertheless, within this market, people trade and exchange virtual goods, earning real money for exchanged virtual experiences. The AR/VR market value is projected to be $108 billion by 2021. As an increasing amount of our time will be spent in augmented and virtual environments, it will become essential to complete these environments with virtual goods. Any training simulation, virtual “field trip” or exhilarating experience will need to be populated by a vast array of virtual objects.”
As a platform that is spearheading democratization of a young digital goods economy, BLOCKv is enabling people to own, transact, exchange and trade with unique, proprietary and scarce virtual objects. The platform also identifies cryptocurrency as a highly potential industry in the virtual economy.
“The cryptocurrency market cap currently exceeds $100 billion. The flexibility of Ethereum-based smart contracts has, in recent years, inspired the advent of digital tokens. In the Ethereum ecosystem, tokens can represent any fungible tradable asset. As such, digital tokens have emerged as a new alternative channel for companies to raise funds and as an entirely new asset class for investors. These assets are bought, sold and traded. They have inherent value built into them, due to their scarcity and desirability. However, a serious limitation for these virtual goods is their lack of an experiential layer. For many people, the value of a token or cryptocurrency is difficult to grasp due to the lack of a perceivable manifestation.”
BLOCKv team is led by an experienced Bitcoin and Blockchain pioneer who created the first fiat platform on a blockchain, changing the way currency is transacted. The team comprises a highly experienced technology officer in designing and building disruptive solutions, an operating officer with vast experience in leading organizations and a blockchain expert who has previously advised and co-founded companies such as Tether and Omni.
BLOCKv’s advisory board brings together high profile individuals drawn from different industries. They include leaders in global finance media, cryptocurrency and tech firms as well as venture capitalists who have formerly headed venture capital and private equity firms. The advisory team also comprises individuals with content marketing, innovative media, blockchain and token investing backgrounds.
BLOCKv is issuing Ethereum-based smart tokens called V. The tokens are compelling, dynamic virtual objects that bring cryptocurrency to life, becoming an asset that brands, end users and developers can utilize.
V tokens comprise the lifeline underlying the BLOCKv ecosystem. Embedded on the ERC20 standard, the tokens form an integral part of BLOCKv’s open-source environment. Each part of the BLOCKv ecosystem requires V tokens to fuse and activate a transaction, collaboration, and reward mechanism.
On BLOCKv, V tokens will be used to reward competitions, hackathons and support development solutions. Developers who work with vAtoms will be paid in V tokens. vAtoms are virtual objects that are highly programmable and their ownership can be confirmed on blockchain. Developers can link vAtoms to the blockchain, change vAtom ownership or utilize existing vAtom templates to earn V tokens on BLOCKv. V tokens will also be used to reward companies and users who collaborate to add value to the BLOCKv ecosystem.
The sale of V tokens will be undertaken in two phases: a pre-sale and a main-sale. Each phase targets a $20 million, to raise a total of $ 40 million. If the cap is met, the total tokens issued in the two sales will be 6.5 billion.
The pre-sale phase was launched on September 18, 2017, and was concluded on October 10, 2017. The main-sale phase will run from October 19 to 24, 2017. The dollar amount raised in the main sale, with $20 million cap, will be divided by 1 billion tokens to determine the final token price.The platform is issuing 35% of tokens to the public and will lock-up 15% of tokens for a 6-year period.
The BLOCKv token sale may be accessed here