About Bluzelle (BLZ)

Bluzelle leverages resources (e.g. disk space, bandwidth, etc.) from a global network of nodes to provide decentralized storage services for GameFi titles and other applications.

Bluzelle’s BLZ token is used as the primary mean of payment on the Network. BLZ also confers voting rights within the platforms governance system and can be staked to the protocol for an annual yield. 

Resource providers must stake BLZ proportional to the amount of storage they wish to provide. The more BLZ a provider stakes, the more data they can store on the network.  Game/application developers are required to pay a BLZ denominated fee – sent to resource providers – to store GameFi-based non fungible tokens (NFTs), files and other data.

As seen with other decentralized database solutions, files are split into pieces (shards), which are then sent to clusters of nodes situated in various geographic locations around the globe, ensuring there is no single point of failure, Messari explained.

In addition to storage services, Bluzelle operates their own Cosmos-backed Proof-of-Stake (PoS) ledger, Bluzelle Net, capable of scaling to throughput speeds of 10,000 transaction per second (TPS) at minimal cost to the end user. Cointelegraph said the protocol is poised to continue building out GameFi-related solutions across the Cosmos ecosystem.

According to project documentation, Bluzelle Net plays host to a various platform-developed games including Denomination and the play-to-earn (P2E)-based Gamma 4. 

Bluzelle also provides DeFi functionality to crypto gamers. Backed by Cosmos, the protocol piggybacks on the interoperable network’s suite of yield-generating products to offer lending/staking services for in-game assets. 

As of late June 2022, Bluzelle had been integrated into several leading blockchain ecosystems, including Cosmos, Polkadot and Ankr Protocol. 

When was BLZ created and how much was it worth?

Bluzelle is the brainchild of two experienced blockchain builders – Pavel Baines and Neeraj Merarka – who launched the platform back in 2014.

Prior to their foray into decentralized development, the pair gained experience working with leading video game publishers such as Electronic Arts and Nintendo. Both men remained heavily involved in the project with Baines and Merarka serving as CEO and CTO, respectively.

Initially created to build decentralized applications for large banks, Bluzelle shifted their focus towards database services in 2017.

According to Messari, the protocol was able to obtain roughly $1.8 million in early seed funding from notable industry backers including True Global Ventures.

Bluzelle’s native token, BLZ, was initially distributed via a public offering in January of 2018 at a price of $0.12. Per cryptorank, the sale raised a total of $19.5 million.

 Pricing data from CoinGecko shows that BLZ rode a wave of positive momentum following its official launch, culminating in the token hitting a record high of $0.78 in early 2018. BLZ subsequently dropped and consolidated over the next two years before peaking again – along with the broader market – at the end of 2020. The token has been prone to volatility since.

How is the price of BLZ determined?

BLZ is a deflationary asset with a hard cap of 500 million tokens. Roughly 165 million BLZ tokens – 33% of supply – were released via public sale in early 2018, while an additional 30% was reserved for the project’s founders, early investors/advisors and strategic partners. Some 27% of supply was earmarked for protocol development and future staff.

As of late June 2022, there were 328.4 million BLZ tokens in circulation. Additional tokens are set to be distributed in the form of staking rewards.

Why does BLZ have value?

Bluzelle’s value proposition would seem to be an extension of its low cost, decentralized storage services as well its independent GameFi titles. By combining a powerful PoS ledger with both NFT/file storage and DeFi capabilities, Bluzelle could be poised to build a following among blockchain gamers.

Is BLZ secure?

As a decentralized service with nodes spread across the globe, many would argue that Bluzelle is inherently more secure that centralized cloud providers like AWS. The network leverages a Cosmos-backed PoS ledger, which involves transaction validators staking BLZ tokens to secure the network.

What are the main benefits of BLZ?

• Bluzelle provides a low-cost, decentralized storage infrastructure for GameFi-related NFTs, files, and other pertinent data.
• Bluzelle operates a Cosmos-backed PoS ledger capable of scaling to throughput speeds of 10,000 transactions per second at minimal cost to the end user.
• Bluzelle features their own native GamFi titles including Denomination and Gamma 4.
• Bluzelle aggregates various DeFi products across the Cosmos ecosystem to provide lending/staking opportunity for in-game assets.

What do critics say about BLZ?

The rough stretch of performance for several leading P2E assets, including Axie Infinity, has led many to believe that GameFi’s proverbial 15 minutes of fame is up. The time and resources require to profit from blockchain-based games simply may not be worth the cost to the end user.