Some Early Thoughts On Our Social Token BLUBUX
Enter the Blueniverse: Where Learn2Earn and Play2Earn Collide
Disclaimer: This doesn’t constitute investment advice and BLUBUX is not an investment and has no economic value. It will be earned as a reward within the Blue Studios ecosystem and is simply a reward/loyalty program. These are merely early thoughts and before we release the token publicly, we’ll get a full signoff from our legal teammates to ensure they protect everyone involved, and put together the most accurate messaging. This post is simply to opine on the potential.
We partnered with Tryroll to put together a Social Token, called BLUBUX, an ERC-20 token. BLUBUX is the connective tissue between our Learn2Earn, Play2Earn, and NFT project ecosystem. It’s to reward our most engaged members, create positive reward incentives for holding your NFT token, and give exclusive access and experiences to our community. There will only be a max of 10 million tokens ever in circulation.
How does this work?
Well, when a student watches a Blue Studios class, they can submit a project or take a quiz to win a token. They can then use that token to buy some of our NFT collectible NFTs, exchange for merch, or save it for a later for when we launch the Blueniverse, our metaverse, where they’ll be able to exchange them for cool and fun experiences in our metaverse. This is what we call Learn2Earn. In exchange for a student using their time and energy to learn Science, Technology, Engineering, and Math classes, and doing something to display what they have learned, they get additional experiences. Every parent knows of that nagging feeling when their child needs their credit card to buy more skins for their favorite game. Instead, what if they can earn it through learning? And that’s that spirit behind what we’re building from using education for things. As educators, we know all too well how students need incentives, quick wins, and some proof that you're into the same things they’re into.
In the Blueniverse, although some of the attractions of our digital theme park are soon-to-be-released concepts, anyone who has a Blue Studios NFT or enough BLUBUX can play and enter. We’ll define the tokenomics of that shortly. Where the Play2Earn comes in is that if we have a robotic horse race game, students can earn BLUBUX for winning races, or winning a digital paintball game, an obstacle course, or operating a roller coaster. It’s all meant to be super fun and entertaining! Not boring or the Legends of Zelda where you’re solving math problems. That’s not the Blueniverse. The Blueniverse is where there are synthetic concerts, mini-games to compete against your friends, and just explore different worlds within the world. And for winning, you get some BLUBUX, and for certain activities, it might cost some BLUBUX.
Lastly, for Blue Studios NFT Project 1 owners, we have tentatively thought through how we could provide incentives for our earliest NFT holders.
1) For every day you hold your NFT, you earn some BLUBUX. We don’t want you selling, and we recognize that every day you’re holding the NFT, there is an opportunity cost.
2) For promoting the NFT project over places like Twitter, especially as a group, everyone wins. The NFT project has additional marketing on top of what we will do, and we’re also promoting the project externally, asking people to join our tribe. The more that join, the higher the value of the NFT project, and the higher the perceived value of the project as a whole. Lazy Lions has done an amazing job doing that, and we expect to emulate some of that, especially from a hashtag basis.
3) Lastly, there are some projects that do provide some options to trade in your social tokens like BLUBUX for other cryptos like ETH. We’ll be working with our attorneys to figure out the best, safest, and most secure way to do that, and we believe that will be a rocket booster to our community.
The net is that BLUBUX will be an important part of our ecosystem enabling us to do some social good and incentivizing education (Learn2Earn), but also not take away from the entertainment factor that cannot be comprised with traditional Play2Earn games. We’re excited about the future and can’t wait to share more with you as we go along.