Using an innovative approach to passive income, 1000Blocks lets users earn while contributing to an NFT collage.
What is 1000Blocks?
1000Blocks is all about community-powered Non-Fungible Tokens (NFTs). You can invest in Block Areas where you put your poster/image of what you want to show to the world. As long as you are the owner of a Block (no one covers you up), you earn BLS tokens constantly.
After the preset time limit is reached, an NFT is minted. That NFT is auctioned on the open market and the profit goes into a Rewards Pool, along with all the investments in Block Areas.
BLS holders can stake their tokens into a Blocks Vault where they earn yields in BNB from the Rewards Pool.
In summary: You can invest in visual real estate that generates yields in BLS tokens as well as acting as a piece of artwork, and you can stake those BLS tokens to get share of various income streams, including the profits from that artwork.
How to Use 1000Blocks
Users wanting to use 1000Blocks should understand three things:
What is a Space and how to participate in the co-creation of an NFT
The universal Rewards Pool
How to earn yields
What is a Space?
Block Space (or just Space in short) is the primary piece of the App.
Visually the Space looks like a grid.The Space is a canvas that consists out of 1008 blocks (42*24). We cover 8 blocks with our platform logo, which means 1000 are left for the user to interact with (cover with photos). That is also the origin of the name 1000Blocks Space.
At some point in time (pre-announced with a countdown timer) the whole Space gets minted into an NFT which will then be auctioned on OpenSea.
A Space gets covered by users, the NFT gets minted and auctioned on OpenSea. All users split the rewards.
SPACE-01 and Rules
SPACE-01 is our initial space; titled “Infinity”. The idea and rules of first/genesis Space01 are hidden in its name. SPACE-01 will be always open for claiming Blocks and co-creating NFTs.
The rules of SPACE-01 are simple:
You can claim a minimum of 1 and maximum of 42 blocks at once.
The minimal price to claim a Block(s) is set by its previous user.
The Block claimer has to invest more than the previous user.
As the owner of a block, if someone covers you, you get 25% of his/her investment.
After claiming Blocks you need to wait 12 hours until you can claim again.
As long as your blocks are visible, you will yield 24BLS/blocks/day.
SPACE-02 and Multi-Spaces Future
SPACE-02 has its own mechanics, and through those mechanics, it increases the utility of the BLS token and ensures a steady burn rate. Yields and gamification are included (as is standard), but most importantly, it introduces a multi-space setup, which is the foundation of scaling 1000Blocks.space!
Space-02 is doing BLS burns 24/7 to incentivize the use of native token and support price
For more information on SPACE-02 rules and dynamics check out our Medium blog!
Multispace Changes the Game
With the launch of SPACE-02 we opened the door to a multi-space future. This means we can now launch additional spaces faster and with very different rules- and all of them will fill our universal Rewards Pool!
Also, don’t forget, with a multi-space setup the Space Ape now needs to think multidimensional — which space will he participate in? When, how? How much? Game-changing choices!
The Universal Rewards Pool
Most of the proceeds (60–85%) from buying Blocks and selling NFTs is filling the Rewards Pool. From every Space, current and future — it is universal.
The whole amount in the Rewards Pool gets continuously distributed to all users that have BLS staked in the Vault. How much a user receives, depends on the relative stake in the Vault.
How to Earn Yields
Claim Blocks → earn BLS
Stake BLS in Vault → earn BNB
The reward system of 1000Blocks is innovative and really one of a kind in the crypto space. Users that claim Blocks on the canvas and show their image on them, are yielding BLS tokens.
An alternative way of getting BLS is to buy them on an exchange (WaultSwap or PancakeSwap).
BLS tokens can be staked in 1000Blocks Vault which yields you BNB tokens from Rewards Pool.
Page Navigation
Top Bar buttons and information are shown below.
General Rewards Pool that is filled with BNBs from all the current and upcoming Spaces.
Click “Stake/Withdraw” for actions on 1000Blocks Vault. Stake your BLS to yield BNB from Rewards Pool. When you withdraw tokens from Vault, 1% of them are burned permanently.
Click “Harvest BNB” to harvest all BNB received from staking BLS in Vault.
Current price of BLS token with an easy to buy on Waultswap button.
Sidebar buttons and information are shown below:
Funds you have on your personal BSC Wallet.
Space Selector Grid to switch from one Space to another.
Counter of how many Blocks on Space are you owner
Button to Claim Blocks on Space
Rules of Space. Each Space has its own Rules and dynamics
Counter for how many times the Blocks were claimed in the whole history of the Space.
Rewards for having visible Blocks on Space. 24BLS per Blocks per day.
Click “Harvest” to claim BLS tokens as a reward for having visible Blocks on Space.
Still So Much to Come
The door into a multi-space future was opened with a reason. We are happy to inform you that we already have a few upcoming exclusive/promo spaces (a time-limited space in collaboration with a partner, that will reward the community with special goodies).
Part of the plan is our own NFT collection.This collection will give the owners special superpowers on our 1000Blocks platform (more about that will be discussed in a dedicated article).
Did you know? Our captain Albert has brothers and sisters too…
We are excited and hope you are too — let’s take off! Join our Space Apes community on Telegram if you want to learn more.
Find 1000Blocks at the following links:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
