Block TV Token (BLTV) to Launch November 21, Will Allow Viewers to Unlock Exclusive Features, Highly Centralized Supply

November 4, 2019 / by Crypto.IQ

A new token is coming soon to the crypto space. BLOCKTV, which is a news service based out of Tel Aviv, Israel that reports on blockchain, cryptocurrency, augmented reality, and the internet of things (IoT), will be launching the BLOCKTV (BLTV) token.

Instead of doing an initial coin offering (ICO), all BLTV tokens will be sold on Bittrex Global. This can be considered an initial exchange offering (IEO), but is somewhat different since all the tokens will be sold at the same time for the same price, instead of a floating price which can cause a rally as traders rush in to buy tokens

BLTV token will also offer a new form of mining, where users can accumulate tokens simply by watching BLOCKTV. However, tokens earned in this way will be inaccessible until a 1 year lockup period expires, likely in an attempt to keep the market price buoyant rather than crushing the market with supply from all of the viewers. 

BLTV token is a utility token, and will give users the ability to watch exclusive content such as special reports, one-on-one interviews with industry leaders, expert commentary and analysis, high profile debates, key market insights and predictions, and exclusive behind the scenes footage. 

BLOCKTV reportedly has 11 million users, 35 million views, and 1,200 hours of content, giving it the user base needed to spur demand for this new token. 

All this being said, only 20% of BLTV tokens will be sold in the IEO, 600 million at a price of $0.01 each, which will lead to $6 million of funds raised for BLOCKTV if the IEO sells out. This means BLOCKTV will have another 2.4 billion tokens in their reserves, some of which will be used to pay viewers, but most of this remaining in the company’s treasury. 

This can be considered a highly centralized supply, and sets up a situation where the market could crash long term due to viewers or the company dumping tokens.