What is Bluzelle? BLZ Token and Key Features Reviewed
Bluzelle is a cryptocurrency project aimed at constructing a convenient infrastructure for launching GameFi startups.
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Although GameFi’s popularity has significantly dropped due to the bearish crypto cycle and a lack of user interest, gaming projects hold the potential to become one of the main trends in the future bullish market.
In this review, we’ll explore the cryptocurrency project Bluzelle, its role in shaping the GameFi sector, and the prospects of its native token, BLZ.
Origin
Bluzelle was established in 2014 by Pavel Bains and Neeraj Murarka. Initially, the project focused on developing blockchain applications for banks, but in 2017, it pivoted towards the burgeoning DeFi infrastructure market.
Bluzelle’s Founders. Source: www.bluzelle.com
Since that pivot, Bluzelle's primary endeavor has been the development of a decentralized data storage solution, serving a variety of applications and dApps. It shares its niche in the cryptocurrency realm with projects like Filecoin and Siacoin, offering users not only the ability to store extensive volumes of information but also to interact with it swiftly and economically.
Starting in 2021, Bluzelle broadened its specialization and now also operates as a hub for the development and deployment of GameFi projects, becoming an integral component of the Cosmos blockchain ecosystem in this sector.
Funding Rounds
Bluzelle has undergone three investment rounds as per Cryptorank: Seed, Private, and Public ICO. The majority of funds, $12.3 million, were amassed during the private round. Overall, Bluzelle successfully attracted $20.8 million from public investors and cryptocurrency funds such as Global Brain Corporation, True Global Ventures, LUN Partners Group, and NGC Ventures. Pavel Bains, the CEO of Bluzelle, was the principal investor in the seed round.
Bluzelle Funding Rounds. Source: cryptorank.io
Investors obtained 33% of the tokens from the total supply, and nearly all the coins were made available within six months following the token listing in February 2018. Given that in the initial year of trading, the BLZ coin never dropped below $0.2, and the token's purchase range was between $0.04–$0.12 (varied by the investment round), all investors managed to secure profits.
Bluzelle Investors and Tokenomics. Source: cryptorank.io
Bluzelle's Mechanism and Unique Features
The Bluzelle network provides comprehensive data protection without sacrificing scalability or decentralization. It ensures the protection of users’ intellectual property regardless of the type of data stored.
Bluzelle also boasts several distinctive features, such as:
- Its native cryptocurrency network (with up to 10,000 TPS) is fully compatible with the Cosmos network, enhancing its usability in this ecosystem.
- Bluzelle’s cloud storage is universally accessible and doesn't rely on data centers.
- Bluzelle is notably user-friendly in the GameFI sector due to its decentralized storage system for tokens, NFTs, and information. Gamers and developers can exchange assets within the Cosmos ecosystem without any hindrance.
- The project has developed its own GameFI start-up named GAMMA 4. It is a real-time blockchain card game where players can engage in environmental survival (PvE) and compete against other players (PvP). GAMMA 4 is developed in collaboration with the gaming studio Starloop Studios.
Key Features of Bluzelle. Source: bluzelle.com
Bluzelle is also at the forefront of developing the Cosmos-based NFT marketplace, Capella, which was specifically created for trading assets of the GAMMA 4 game. Generally, in the Cosmos ecosystem, Bluzelle acts as a validator and a conductor of blocks.
Bluzelle's Role in the Cosmos Ecosystem. Source: www.bluzelle.com
Native Token BLZ
BLZ serves multiple functions within the Bluzelle network. It is used to pay for network transactions and access to BluzelleDB storage services and Oracle. Furthermore, BLZ holders have the privilege to stake their tokens to receive passive income and to participate in governing the network via voting.
As of the article’s writing date, the BLZ coin possesses the following attributes:
- Asset Price: $0.18
- Market Capitalization: $76 million
- Circulating Supply: 414 million coins
- Maximum Supply: 500 million coins
- Average Daily Trading Volume: $69 million
- ATH: $0.78;
- ATL: $0.0065.
BLZ tokens can be acquired on various centralized exchanges such as WhiteBIT, Gate, KuCoin, Mexc, and Kraken, among others. A comprehensive list of available trading platforms is provided on informational sites like CoinGecko and CoinMarketCap under the “Markets” section.
BLZ Price Dynamics Over the Entire Trading Period. Source: coingecko.com
Final Words
Bluzelle is an innovative project, appealing not only to GameFI app developers but also to regular users. The BLZ token exhibits strong trading dynamics, and the project continually evolves. It has maintained relevance and significance in the cryptocurrency community, continually adapting to suit the ecosystem’s conditions.
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