$BLOK BUY BACK AND BURN
$1,000,000 USD worth of $BLOK has been purchased from the circulating supply and burnt following Binance NFT ADBLOK sale.
Today, Bloktopia can announce that a buy back of $BLOK occured on Kucoin after it’s first ever ADBLOK NFT sale on Binance NFT.
The purchase amassed 31,903,649 BLOK tokens.
The $BLOK has subsequently been burnt.
Transaction ID: https://polygonscan.com/tx/0xa6817db543c2cd694a0d6cee3c76d8d6e921c492d48653cb1f3c879fcb8b97e8
Because $BLOK is not a currency which can be used on the Binance NFT Marketplace yet, Binance NFT set the currency to BUSD to purchase ADBLOK with. As always stated, the main utility of $BLOK is to buy NFTs, so the Bloktopia team devised a mechanism whereby the total amount of capital raised from the NFT sales on Binance NFT was matched by a purchase in $BLOK by Bloktopia.
The mechanism locks 50% of those $BLOK tokens for two years and burns 50% of those $BLOK tokens!
The Binance NFT sale is over half way through, so today Bloktopia made the decision to purchase the 50% of $BLOK tokens, and have subsequently burnt those tokens commencing the reduction of the circulating supply of $BLOK.
Tomorrow at 12:00 UTC after many request more Large ADBLOK NFT’s will be available to buy on Binance NFT. Again we will be using the same lock and burn mechanism described above from the proceeds of the sale.
About Bloktopia
Bloktopia is a VR skyscraper made up of 21 floors to commemorate 21 million Bitcoin. It will act as a central hub and welcome all levels of crypto experience. For the first time ever, users will have access to crypto information and immersive content all in one place.
Learn, Earn, Play and Create.
Educate yourself in the basics of crypto or engage in more advanced learning from some of the world leading minds in the industry, earn revenue through real estate ownership & advertising, play games with friends, build networks and much more.
