Blockchain technology is presenting a once-in-a-lifetime opportunity to alleviate the public’s growing aversion to and distrust of centralized banking systems. By sharing data through a network of computers, the technology is allowing any group of individuals to embrace openness rather than central-entity control. The result is a permissionless system that is unbiased, highly efficient, and transparent —one that has the potential to strengthen current global financial and monetary institutions while simultaneously serving the public interest. The cryptocurrency industry has grown from a simple internet-based currency with no intrinsic value to a multibillion-dollar sector with over 1.7 trillion dollars in combined capitalization as of August 2020. Despite its spectacular rise, the crypto industry is still being plagued by hard frauds and scams.

Minecraft Blocks DAO is intending to address this by creating a platform that allows its users to contribute and engage in project discussions by voting and adding real-world utility to its ecosystem. Their DAO token and NFT collection are now available. To extend their ecosystem, they will also release additional projects based on current crypto trends.

The problem

The recent surge in cryptocurrency interest has sparked the interest of a diverse group of investors, but it has also aroused the interest of scammers. As a result of ‘rug pull’ crimes, at least 36% of victims lost more than $2.8 billion. When compared to 2020, crypto fraud grew by 81 percent in 2021, with rug pulls leading the way. Developers of such projects do not “lock” their control over the token’s liquidity pool on a DEX, which means they are able to withdraw the entire pool at any time.

DAO

The fact that blockchains are not controlled by a single central authority, such as the government, is described as decentralization. That is exactly what a DAO offers to a company or organization. In essence, a DAO works in the same way that a company without an executive board does— it’s an organization that can run independently and without direction. The organization’s activities are governed by the community, and decisions are made from the ground up.

NFT

NFTs can be linked to easily reproducible goods such as photographs, audio, videos, and other types of digital files, for the NFT, blockchain technology can be utilized to provide public proof of ownership. The NFT market has risen at a breakneck pace, according to a previous analysis from 2020. According to statistics, the market for NFTs has grown by 299 percent. Surprisingly, overall NFT revenues surpassed $2 billion in the first quarter of 2021 and grew at a quick pace. The value of cryptocurrencies, including NFTs, is skyrocketing, and the same people who have been spreading misinformation about these technologies are now investing. Illustrations, video clips, graphic designs, animations, and music are among the most popular arts on various NFT platforms. 

About Minecraft DAO

People with the $MINE governance token operate the project from all around the world. DAOs, or Decentralized Autonomous Organizations, are primarily social and technical groups in the Ethereum ecosystem centered around a single goal or project and do not imply the existence of traditional corporate forms. In comparison to other digital currencies, this coin has a unique set of characters. This token is a game-specific token. This project was created by true gamers who want others to experience the true heritage of MINECRAFT. Being a holder gives you the right to make decisions in this system.

The Minecraft Blocks DAO and the ecosystem’s financial risks are being controlled by $MINE holders through a scientific governance mechanism that incorporates Executive Voting and Governance Polling. The ecosystem’s stability, transparency, and efficiency are all ensured as a result of this. In the Minecraft Blocks DAO, a voter’s voting weight is proportional to the amount of $MINE he or she has invested. Having more $MINE coins locked in the contact will give you a bigger voting power. Minecraft Blocks DAO is collaboratively owned and governed by its members, with treasuries that are only accessible with the members’ agreement. Major and small choices are made through proposals, which are then being voted on by the community over a set period of time.

Minecraft blocks DAO ecosystem

There are 238 million tokens in total. To promote transparency and build community confidence, 51% of tokens will be sold at launch, ensuring that no rug pull occurs. The community is responsible for the remaining 49%. What happens to those tokens will be decided by the DAO. Developers will not be able to do a rug pull because these tokens can be used to invest, which will be decided by the DAO. The cryptocurrency market is quite volatile. To protect their investors’ money and provide a safe atmosphere inside the trading ecosystem, the DAO will begin with several million dollars in ETH, allowing the token and NFTs to have underlying inherent worth and the DAO to decide how they are spent. In this approach, they can ensure a secure and bright future for their investors. Because the community is in charge of Minecraft Blocks DAO, the tokenomics, tax rate, and burn rate will all be chosen by DAO and allocated to holders after a vote.

Why choose Minecraft?

With over 238 million units sold, Minecraft is the best-selling game in the world. Only a few games have sold over 100 million copies, and Minecraft has crashed through crucial milestones after significant milestones. GTA V, is the second best-selling game, having sold over 140 million copies across two generations of consoles. Although there is a considerable difference between these two massive games, what’s more, surprising is that Minecraft still has a booming community.

The fact that a game is nothing without its community, and Minecraft is one of the largest, is one thing that brings them together. Because they help to enhance the game by testing it, Minecraft’s players can only be regarded as a community. The community is the real platform and decider for this organization. They also have the same number of tokens as the number of Minecraft game copies sold, which is 238 million tokens.

The features of Minecraft blocks DAO

• It is secure

Secure Smart Contracts safeguard user funds while also safeguarding the Minecraft Blocks DAO environment. Because there is no manual intervention, there is no risk of human error or tampering.

• Guaranteed anonymity

Users can execute transactions in just a few seconds with Minecraft Blocks DAO without revealing personal information to the network’s server.

• It is borderless

Minecraft Blocks DAO is a worldwide platform from which people from all over the world can benefit. It is decentralized and unrestricted by geographic barriers. Its native token, $MINE Token, works as a universal utility token across the Minecraft Blocks DAO Platform and is not constrained by any borders.

• It is fast

The crypto market moves at a breakneck pace, particularly when it comes to high-volume currencies. Delaying a transaction, whether it’s a buy, sell, or even a transfer to another wallet can have a negative impact on your net profit or loss.

• It is transparent

Smart Contracts make it impossible to manipulate the environment in any way. Transactions are permanently recorded right on the Blockchain and are kept safe without any third-party involvement.

ICO will probably start on 31st January 2022

Link: https://minecraftblocks.io/