BOLD Chooses LCX For $BOLD Compliant Token Sale
tarafından LCX Team · July 20, 2024
We’re delighted to formally announce that LCX will be conducting the $BOLD Token Sale, adhering to all regulatory requirements governing token sales. This sale is scheduled to take place on the LCX platform, offering investors a seamless and secure environment to acquire $BOLD, the versatile service token for BOLD.
Monty Metzger, CEO and Founder of LCX says BOLD is revolutionizing digital experiences. 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. We are excited to partner with BOLD for the $BOLD compliant token sale and look forward to a successful token sale.
Salim Kraatz, CEO of BOLD, expressed his enthusiasm about the new partnership with LCX. He stated, “This collaboration is a significant milestone for us. LCX stands out as the perfect partner thanks to its ambitious growth, strict regulatory compliance, and robust infrastructure. With LCX’s dynamic investor community, we believe BOLD as a brand is well-positioned for a future filled with innovation and success.”
The $BOLD token sale will be managed by LCX’s Token Sale Manager, which will include knowing your customer (KYC), anti-money laundering in accordance with investor onboarding, and blockchain analytics (KYT) standards. BOLD manages the $BOLD token sale in a compliant manner by leveraging LCX’s extensive token sale manager and crypto compliance suite. BOLD’s private and public sale rounds are being handled by LCX.
As the official token issuer and token sale manager for $BOLD, LCX will plan the legal factors and register the sale with the regulator. In conformance with our registration with the Financial Market Authority and regulatory approvals, we are managing several key aspects of the token sale. The white paper, terms of the $BOLD token sale, and an independent legal opinion from a credible law firm categorizing the $BOLD token as a multi-utility service token will be included in the notification to the regulator.
BOLD
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.
What is the BOLD Token?
$BOLD serves as the primary token within the BOLD ecosystem. This includes its function as a payment token as well as various utility functions such as rewarding, special content access, staking, and many more.
User Accessibility and Web3 Integration of $BOLD
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.
BOLD-specific objectives
1. Funding the Project: The token will serve as a means to raise funding for BOLD, ensuring the continuous development of the platform.
2. 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.
3. 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.
4. 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, $BOLD can be used to earn and/or receive Energy, which in turn can be used to unlock/purchase further benefits.
5. Gamification: Enhance the platform experience for users by implementing incentivization and reward mechanisms that encourage desired behaviors, e.g., active participation and creation of challenges.
The Dual Token Model
BOLD’s token ecosystem is proposed to consist of two tokens:
The BOLD ($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).
To learn more about BOLD and $BOLD visit – https://www.wearebold.io/
Disclaimer: This content contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates, and intentions we express in these forward-looking statements and in other public filings and press releases. We may not achieve all of the expected benefits of our strategic initiatives and partnerships. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other market challenges, could limit our ability to achieve some or all of the expected benefits of these initiatives. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.
Legal Disclosure: LCX is a regulated entity and gained regulatory approvals as a token generator, token issuer, exchange service provider, price service provider and other legal roles according to the Liechtenstein blockchain act. LCX is acting as a trusted technology service provider for this token sale. LCX and Monty Metzger are closely involved in getting compensation and fees paid in the project token and other assets. From time to time we will engage in transactions of our own tokens.