d10e ICO Pitch Competition
d10e hosted the first ever ICO pitch competition in Kyiv, Ukraine during the 9th Global Edition of their blockchain conference. One of the three winning teams, BLOCKv, was granted 33 BTC as well as given an endorsement from the Blockchain Investors Consortium (BIC), a group of 100 blockchain hedge funds who together have over $2 billion of digital assets under management. The “check” was handed by Mike Costache, founder of BIC and co-host of d10e alongside Ruslan Gavryliuk, co-chair of d10e in Kyiv, the home city of Tocken-as-a-Service (TaaS) Fund which he co-founded back in March when he and his partners raised $7.6 million through their own ICO.
BLOCKv won the competition because the BIC judges were impressed by the “sheer magnitude” of their blockchain project. The CEO of BLOCKv, Reeve Collins claimed, “It’s no wonder, because once the BLOCKv platform becomes available to developers worldwide, it won’t be long before experiential, tradable digital objects on blockchains become an everyday occurrence.” Collins was founding CEO of Tether, a cryptocurrency tied to the value of the US dollar which he sold to Bittrex, before pursuing BLOCKv.
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Claiming to have the potential to bring digital assets to mainstream adoption, BLOCKv is a blockchain-based development platform that enables the creation of secure virtual objects to dramatically expand the $100 billion industry far beyond games, music and books. The platform seeks to encompass the next generation of the digital goods economy, as these virtual goods can be bought, sold, collected, traded, owned and redeemed.
BLOCKv’s interface protocol augments blockchains with “consumer-facing experiences, such as interactive 2D and 3D graphics, sounds, music, animation, location, combinability, retail redemption, and real-time state changes based on environmental events”. The BLOCKv platform enables the rapid development and distribution of interactive smart objects, called “vAtoms” (Virtual Atoms) that developers and brands can create for sale to end users. BLOCKv plans to turn the blockchain into a real consumer ecosystem, which unlocks a plethora of new revenue opportunities.
The BLOCKv Token
The Ethereum ERC20 BLOCKv token, V (ticker: VEE) is the backbone of the BLOCKv ecosystem. As BLOCKv’s protocol is open-source for developers, each of its composite parts aligns incentives through the exchange of this V token to power the BLOCKv ecosystem. According to the BLOCKv white paper, “Every time a vAtom is linked to the blockchain, this operation will need to be paid for in V. Every time the ownership of a vAtom is changed, it will need to be paid for in V. Using existing templates for vAtoms will also require payment in V.”
The BLOCKv crowdsale is capped at $40 million, with $20M of that coming from the presale. Following the sale, the token allocation will be as follows:
- 35% to the launch contributors
- 25% to incentivize the development community
- 25% to the company, early contributors and advisors
- 15% locked for 6 years to fuel future innovation and ecosystem health
The current BLOCKv presale will run until the 10th of October, 2017, or until the pre-sale cap of $20 million is reached. The main sale will take place on October 12th, 2017 and will run until the 16th of October, 2017 or until the $20 million main sale cap has been reached. Feel free to visit here to consider a contribution.