bloXmove Token Launch Update
BLXM presale oversubscribed with over $3 Million invested
We are thrilled to announce to our heroic bloXmove community and the wider blockchain industry that the bloXmove private sale has wrapped up and that it was a resounding success! We are excited to announce that it was oversubscribed, and we now have over $3 million in seed investment!
Transparency and communication are key to our ethos here at bloXmove, that is why we feel it is important to break down our token sale process. It is important that our community and investors understand exactly what it is we are doing and why the token sale is a win-win for the project and its investors.
bloXmove will launch its IDO in September 2021, offering BLXM tokens publicly to interested investors. This public sale will go live on the PAID Ignition launchpad at an initial price of $0.8 per BLXM token. Trading in and out of BLXM tokens opens a few hours afterward on Uniswap. This means that those interested in buying BLXM after the IDO will also have the opportunity to buy in using their ETH or other ERC-20 tokens once trading goes live.
How BLXM Tokens Operate in the bloXmove Protocol
The core representation of BLXM tokens is that it offers you a stake in the future of decentralized urban mobility. The team is keenly aware of the responsibility that comes with the trust you vest in us to bring the future of Decentralized Mobility (#DeMo) by investing into BLXM.
As far as utility goes, BLXM is the only token that is used to pay for decentralized mobility services and transaction fees on the bloXmove ecosystem. That means users that wants to access our seamless urban mobility experience need BLXM tokens in their wallet to use those decentralised services. BLXM tokens can also used to settle B2B liabilities in our non-crypto-native hybrid scenarios in regulated markets such as Europe and most of Asia Pacific.
The BLXM token economy is designed to be deflationary. Not only is the total supply set to a maximum of 50 million BLXM tokens.
Furthermore, circulating supply will continually decrease as the foundation, which governs the bloxmove ecosystem and the BLXM tokenomy, burns 10% to 40% of all transaction fees paid in BLXM. This burning process will continue until a the minimum supply of 10 million BLXM tokens is reached. We believe this to be the right way to reward those that are supporting us in our early phase by using and holding our tokens.
Why the Pre-Sale is an Important Win for the Future of Decentralized Urban Mobility
Being able to operate freely while delivering on our promise of a fully functional, automated, and decentralized urban mobility platform is very important to us. That is why the team chose our current path to the token sale which involves a pre-sale to a select group of early investors. We are still at a very early stage in our life as a startup.
That is a major reason why we refrained from selling shares to traditional VCs at this stage; after all nothing is more expensive for a startup than to give up shares too cheaply.
Our pre-sale and coming IDO gives the team a runway with the needed freedom and flexibility to continue developing the bloXmove platform without unnecessary distraction or interference that destabilizes a lot of founders as a result of early VC involvement.
Funds to Develop and Hire Needed Talent
With the funds raised, the team gets the opportunity to not only develop the project further but also hire high-quality talent in the blockchain space. A rarity to come by. This is especially crucial in our early days, as our success heavily depends on our ability to get as many high-caliber partners into the bloXmove fold as possible. Teams and companies are naturally hesitant to be the first to get in with new projects, that is why having development funds and getting top-tier talent massively boosts our ability to scale the early moments of fragility in the life of our project.
Awareness and Networking
Our highly successful private sale has already set the tone for our token sale, and we are confident the IDO will follow suit. bloXmove’s disruptive approach to decentralizing mobility and the convergence of renewable power with electric vehicles is becoming widely noticed. Out Telegram and Twitter channels are abuzz with an active, engaged and knowledgeable community: you!.
This will boost awareness of what the bloXmove team is trying to create across the entire crypto industry. Being in the news also comes with a particular perk of unlocking partnership opportunities with new teams and even talent that would otherwise never hear of us. As partners and investors from all over the globe become aware of bloXmove, this further enhances the chance of success in our crowdfunding campaign.
Getting Familiar with One Another
The days where crypto investors fall for rug pulls and scam projects are well behind us. Savvy investors do their due diligence and intimately know the project they are investing in. This is a big plus for us here at bloXmove, as we also take very careful consideration before choosing our group of vetted early investors. This exchange offers both parties an important opportunity to know one another and grow confidence, as we strive into the future.
The token sale is a win-win situation for bloXmove, taking in over $3 million in early investment is a testament to that fact. Being in the company of investors who truly believe in us and the project at a fundamental level is a big advantage. It allows us to remain nimble and agile in development while opening doors to new partnerships. As of present, we have signed up 9 business partners and are signing up more by the week.
We are confident that we can get that figure to 15 fully engaged business partners before the year runs out.
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