Letter from the CEO — BLES Tokenomics Update
As Blind Boxes begins due diligence processes with larger centralized exchanges, the timing and structure of private investor token unlocking events has been raised as a potentially negative recurring event. As it stands, the existing once-per-month token release schedule may cause the BLES token price to rebase at lower levels every 30 days. Moreover, this recurring event may stymie project momentum and lead to suboptimal outcomes for token holders.
Earlier this week in an email to our private investors, we proposed modifying the existing token unlock schedule. After incorporating their feedback, we have resolved to change the current monthly token unlock schedule to a per block, linear emission schedule, spread across 365 days (counting retroactively from the TGE). Instead of tokens being released in batches once per month, investors will be able to claim a portion of their tokens on a daily basis.
We believe this move will help the Blind Boxes achieve buy-in from centralized exchanges and gain the confidence of incoming investors and project supporters. As we pave the way for continued momentum for BLES, we look forward to the exciting milestones we will hit along the way.
Thank you for your support of Blind Boxes and BLES. We look forward to a breathless year ahead.
Best,
Anita Angelica Moore
CEO — Blind Boxes
About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands@am and creators to diversify their revenue streams, increase the liquidity of their creative assets, and to become leaders in decentralized global economies, while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers get to experience the thrill of time-released white-labeled blind box series, where a collector can draw from and unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment sectors. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke blind box collections that feature top-tier talent and emerging artists and designers from around the world.
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