Dialogue with Bloktopia co-founder: Considering token burn, planning to launch beta version in March next year

Bloktopia is a virtual skyscraper in the metaverse, consisting of 21 levels, designed to pay tribute to Bitcoin's total maximum supply of 21 million. Owners of its BLOK tokens will be known as Bloktopians. Users will be able to buy and sell non-fungible tokens (NFTs), purchase digital advertising spaces, own real estate, and more in the Bloktopia virtual reality. At the same time, Bloktopians can earn income by selling or renting virtual properties in the skyscraper to interested buyers.

Recently, in an exclusive AMA session on Discord with Cointelegraph Markets Pro (hereinafter referred to as CT Markets Pro), Bloktopia co-founder Paddy Carroll (hereinafter referred to as PC) discussed various topics including virtual real estate sales, the roadmap, tokenomics, and the upcoming Bloktopia metaverse. To help more readers understand Bloktopia, Chain Catcher has made some edits and compilations that do not affect the original meaning.

CT Markets Pro: First, how can ordinary people access the metaverse? Do they need special glasses? How do you move around and interact?
PC: We are making it as easy as possible to enter Bloktopia. We are finalizing our roadmap and will share it soon. We envision a version with VR glasses and a downloadable version.
CT Markets Pro: What stage is Bloktopia currently in? What is the next step?
PC: We are building the 1st and 6th floors along with the auditorium. We will be hosting some events in the near future. We hope to have a beta version of Bloktopia ready by March 2022.
CT Markets Pro User: Will there be other Bloktopia skyscrapers? Are they geographically or temporally based? How important is VR to the experience? Who is the primary target audience to start with? The central location in the metaverse seems contradictory. When did you realize you were doing something?
PC: We currently have no plans for other skyscrapers. VR is part of our thinking, but it is not mandatory. The primary target audience is anyone with a vested interest in crypto. We love the decentralized nature of crypto and don’t want to change it, but ultimately, it is fragmented and time-consuming; Bloktopia brings everything together to make it easier. It will not change the decentralized nature of crypto. We realized we were doing something when we recognized this was a big issue in the crypto world and started having conversations with like-minded individuals.
CT Markets Pro User: Can you share more information about BlokPad? There are many game launch platforms, and there is already a metaverse launch platform. What makes yours unique?
PC: We are in a position where we have a metaverse that will host hundreds of the best crypto projects. We also have one of the most successful IDOs ever. So when projects need our help, we have a proven formula. We are in a fortunate position where we can selectively choose only the best projects on the market. Of course, we also have another utility for BLOK, which is great.
CT Markets Pro: Is there an NFT marketplace in the Metaverse? Is this unique to Bloktopia, or can other projects create their own?
PC: Yes, there will be, and it will be ready in the coming weeks, with more details to be shared.
CT Markets Pro: Why do you think some NFT collections are worth $10 million while most others are worthless?
PC: There is a viewpoint that NFT sales are a bubble waiting to burst. This is not necessarily true, but I do see more value in NFTs that have utility.
CT Markets Pro: What are the current practical use cases of the metaverse? For example, how is it different from using a Zoom window next to a screen?
PC: Well, in Zoom, you can't have multiple immersive experiences at the same time. You can't interact with more than one person. The metaverse is a more socially engaging tool. You can interact with people/brands. Watch live or recorded content, including concerts or sports events. Order food/clothes. Customize your avatar. Have private rooms where you can hang out with friends. Or meet new friends and share experiences/learn.
Additionally, you can participate in games and win free BLOK or even things like Lamborghinis. You can do anything you can do in the real world and do even more from the comfort of your home.
CT Markets Pro: Got it. So, the metaverse is unlikely to integrate with open-source technology. For example, how does Bloktopia expect to integrate third-party NFT-based multiplayer games?
PC: We are exploring the possibility of integrating other games; there are many questions about whether we want to do this and, if so, what those games would be. But we do know we can do it; it is possible. That’s the beauty of the virtual reality world.
CT Markets Pro: Are there separate companies/projects to help businesses build and operate in Bloktopia? Like "metaverse developers"?
PC: We have BlokPad, which will help launch new crypto projects. We also have a property management team to assist tenants with space design, functionality, and basic navigation. So yes, we do offer this as part of the Bloktopia service.
CT Markets Pro: How can businesses and ordinary people monetize in Bloktopia? How much money is needed to start?
PC: BLOK will serve as a currency in Bloktopia, allowing people to purchase items in our world. BLOK will initially be used to buy NFTs, sell real estate and advertising space for Bloktopia, both of which can generate income from advertisers and rent. The higher the daily active users in Bloktopia, the more revenue generated from big data and the impressions paid by brands advertising and renting space in Bloktopia. This means that all NFTs in Bloktopia, whether ReBlok or AdBlok, will generate income for holders and appreciate more typical assets.
CT Markets Pro: Is there any exclusivity for the BLOK token regarding products and services commercialized within Bloktopia?
PC: BLOK is important in Bloktopia. Exclusivity is something we have in mind to unlock certain parts of the metaverse.
CT Markets Pro: What programming and design skills are needed to create spaces and applications?
PC: We are currently building Bloktopia in the Unity engine. So if someone wants to get involved in the creation and learn more, they need to understand Unity design.
CT Markets Pro: For those who purchased real estate in the presale, there is a token lock, so how will newcomers develop their virtual land and services?
PC: That might be two questions? Yes, if you purchase tokens privately or in the IDO, there is a token lock; we will always release enough tokens for people to purchase NFTs (REBLOK and ADBLOK). Newcomers need to buy BLOK to participate.
CT Markets Pro: When will DAO governance be in place? Are there protective mechanisms for large holders like exchanges, ETFs, or custodians?
PC: Tenants will not be part of the DAO. The DAO will consist of NFT holders. So if you own REBLOK in the Binance store, you are part of the DAO. Each REBLOK earns you 1 x vote. Each store has 50.
CT Markets Pro: What is the relationship between Animoca Brands and Bloktopia? What can we gain from it?
PC: They are our main investors. They have opened many doors for us, so we value their input greatly.
CT Markets Pro User: Will there be token burns in the future?
PC: We are currently planning something in this area. We are in a humble and grateful position that our token price has risen so much since our IDO; it has changed the way we look at things and plan again. Burning tokens is a consideration, along with some other options.
CT Markets Pro: So, once all 21 floors of real estate are filled, where will the project go from there? That is, will a similar skyscraper be built next to it and auction off floors?
PC: I am currently very busy thinking about creating, filling, and operating the 21 levels. Let’s get the skyscraper fully operational, and then we will see. The beauty of the metaverse is that there are no constraints.
CT Markets Pro: Can you provide more insight into the integration between Bloktopia and the Elrond blockchain?
PC: We are excited that Elrond is the main tenant on the 1st floor of Bloktopia. We have announced a partnership and are exploring with them, but at this stage, I cannot confirm anything. However, we are thrilled to have them on board and see a lot of collaborative potential.
CT Markets Pro User: Can you talk about when we can expect our Bloktopia wallet? Thank you.
PC: It’s ready! It’s actually just in testing. We don’t need to launch it until the NFT portal is also ready, so we will thoroughly test both first and then share our new product with the community.
CT Markets Pro: So how will community management play a role? Will it be more of a laissez-faire ecosystem where players/users can do their own thing with minimal oversight?
PC: The good and bad of Bloktopia depends on what happens inside. We don’t want to be restrictive, but safety is our top priority, so we will monitor illegal activities. That is absolutely not allowed.