The sale starts Monday, February 28th and will include Credits that can be used for NexBloc domains and services. Tokens will be listed on exchanges in the coming months
NexBloc Inc. announced that it is opening a funding round on Monday, February 28, using Credits and Token Rewards for the NexBloc platform. By purchasing Credits for use on NexBloc, buyers will get rewarded with the NexBloc Utility Token. The Credits will never expire, and as additional products and services get added to the platform, it will encourage faster usage of Web 3.0.
The NexBloc Utility Token, anticipated to be named $NEXB, will be used for numerous benefits to holders including:
– staking for discounts off domain purchases and services
– farming for yield
– access to gated content such as NFT Avatars and partner offerings
– direct purchases with the burning of those tokens
– governance for managing the token by the DAO
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The tokens will be listed on exchanges by mid-Spring 2022 so that owners can accumulate amounts they can use for the above benefits. Governance will be enabled by creating a DAO (decentralized autonomous organization) structure to be established by the end of 2022. The DAO will take over token economics through a process that staking owners specify. It will also provide project approvals for community-sponsored ideas that improve the use of the decentralized web. A portion of NexBloc revenue will be escrowed to fund the projects approved by the DAO.
Dana Farbo, Founder of NexBloc, stated that “NexBloc solves the needs of Web 3.0 infrastructure with a blockchain DNS. Our focus on building community and a strong business will position us to win in the bDNS space. Other participants have one or the other but not both.”
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It is estimated that blockchain DNS will follow a similar path for tools and resources that the centralized DNS space took. bDNS and services annually open a total addressable market (TAM) of close to USD 200 billion over the next decade. NexBloc will vie for a sizable market share by bringing new products and services to its user base. Furthermore, with the use of Credits and through the staking value of tokens, community members and customers will see significant benefits for using NexBloc to build new products for the future of the internet.
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