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A Deep Dive Into BOLD and $BOLD Token

por LCX Team · August 2, 2024

LCX is pleased to announce our next launchpad project, BOLD. BOLD offers social gaming on blockchain. BOLD is a web3-powered ecosystem facilitating the creation of gamified viral challenges.

With BOLD, brands connect with their audience through promoted challenges, leveraging the power of experienced-based marketing. By blending entertainment, gamification, and advertising opportunities, it addresses a gap in the market, being the first platform of its kind.

BOLD is an open ecosystem of value which means everybody can enter, create and reward. Your key to entering is creating Challenges with BOLD and sharing them with the world. At first glance, social media challenges are just viral trends that ask people to participate in an action. In recent years, trends like hold still, lie down, do crazy dances, or douse yourself with ice-cold water have taken over the Internet. BOLD is the first tool built for creating, sharing, and participating in challenges, because we believe there is so much more to the concept of “Challenge.”

Major objectives of $BOLD Token

User Accessibility and Web3 Integration

A primary tenet is to ensure that the platform’s main features are accessible to users without requiring Web3 knowledge or Web3 tools. However, Web3 features can be enabled and used selectively to access additional functionalities.

Long-Term Sustainability

Achieving long-term sustainability is a crucial aspect of our tokenomics. Designing the $BOLD to be non-inflationary in the long term, ensures the viability of the token as a store of value and fosters confidence in the BOLD ecosystem.

This will also be favorable for $BOLD token investors, as they prefer to avoid future dilution of their holdings.

Join the $BOLD Token Sale

BOLD-specific objectives

Funding the Project: The token will serve as a means to raise funding for BOLD, ensuring the continuous development of the platform.
Accelerating Network Effects: The token will be used to incentivize early adoption and usage of the platform, promoting network effects and driving increased participation and engagement. Importantly, the goal is to transition from incentivized users to organic users who engage with the platform without relying on incentives, once the initial bootstrapping period is completed.
Rewarding Creators: BOLD will reward creators who develop entertaining and engaging challenges with $BOLD, recognizing their contributions and encouraging the production of high-quality challenges. Additionally, Heroes can earn $BOLD by participating in certain challenges, funded by the Challenge Creators.
Payment: The BOLD token will function as a payment token within the ecosystem, facilitating transactions such as purchasing the BOLD season pass and other services / digital items offered within the platform.

Additionally, $BOLD can be used to earn and/or receive Energy, which in turn can be used to unlock/purchase further benefits.

Gamification: Enhance the platform experience for users by implementing incentivization and reward mechanisms that encourage desired behaviors, e.g., active participation and creation of challenges.

The Dual Token Model

BOLD’s token ecosystem is proposed to consist of two tokens:

The BOLD ($BOLD) Token

The $BOLD token is a fungible token that is smart contract-enabled. It serves as the primary token within the BOLD ecosystem, offering various utility functions and serving as a payment token.

The Energy Token:

The Energy token is a fungible token that operates independently of smart contract architecture. Its purpose is to provide a gamified BOLD experience for non-Web3 users, while also offering additional earning capabilities for users who are more inclined to utilize Web3 features. Importantly, Energy cannot be converted into $BOLD tokens. The conversion is strictly one-way, allowing users to convert $BOLD tokens into Energy. This design choice is implemented to prevent potential financial fraud, as Energy tokens are subject to greater security risks (e.g., database hacking) compared to the blockchain-based $BOLD token.

By restricting the conversion, the integrity and security of the token ecosystem are safeguarded.

We see BOLD as an ecosystem. In this, rewards, transactions and entitlements play an important role. The BOLD Token manages these aspects and makes service delivery fast, easy and efficient.

Companies have already discovered the effectiveness of Challanges for themselves. In the context of brand experience and experience marketing campaigns, they are used by all major consumer brands and attract large advertising budgets. However, due to the limited functionality in this context and the restrictions in the handling of the data, the existing platforms and networks are at best a workaround. BOLD creates a new, better alternative for this form of advertising and will thus become the best partner for brands, because virality cannot be planned, but thanks to BOLD it becomes more likely. Most importantly, experience based marketing, the most powerful form of advertising, becomes truly scalable for the first time. Longterm we will have the additional revenue streams like booking a local challenge or SpotStore: physical merch & digital items (nfts).

Learn more about BOLD and $BOLD Token- https://www.wearebold.io/