Blind Boxes Token Metrics Updated

As we approach our product launch we are now sharing further details about $BLES, the native token of the platform and a vital cog empowering this community.

Token Launch

As discussed previously, the total supply of $BLES is 100 million tokens. Here is a chart showcasing the initial token distribution and unlocking details for stakeholders at the initial fundraising stages.

Takeaways: The initial circulating supply (after TGE) is 6.5M BLES. The next token unlocking date will be April 26, 2021.

Use Cases of $BLES

$BLES is obtained primarily through opening Blind Boxes or by acquiring them in token exchanges.

Token utility:

· $BLES is the preferred payment form for Blind Boxes collections

· $BLES staking to earn an APY

· Voting on DAO governance issues

· Voting during contests (which unlocks the ability to receive mining rewards)

· $BLES foundation grants for creators

Mining burn mechanism

The platform features unique, smart-contract-controlled, mining and burning mechanisms. Burning tokens act as a deflationary mechanism that maintains steady value for the token.

Opening Blind Boxes mines $BLES. More specifically, when a user opens a box they get an NFT plus an option to claim $BLES.

• If the user chooses to claim $BLES within 7 days of mining it, 50% of the mined $BLES will automatically be burned
• If the user claims $BLES 7 days or later, they receive 100% of the $BLES

Takeaway: A mining plus burn option mechanism incentivizes users to HODL $BLES.

Buyback burn mechanism

Each day, 50% of the revenue earned by the platform will be used to buy $BLES from exchanges. The sum of BLES purchased with this amount will be burned. The amount burned will vary per day. These burn mechanisms will proceed until a maximum of 50% of the total BLES ever minted are burned.

Takeaways: Two separate, smart-contract executed $BLES burn mechanisms will occur to curb inflation.

Sign up here to join Blind Boxes to gain early access to Blind Boxes as a creator.

About Blind Boxes

Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and engage collectors to discover and collect rare, limited edition NFTs.

Via the Blind Boxes Marketplace, buyers get to experience the thrill of time-released white-labeled blind box series. Here collectors unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment sectors. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke collections featuring top-tier talent and emerging artists and designers from around the world.

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