Blokpax Terms
Pax - Pre-ripped digital tokens you open to participate in the Blokpax RAZZ sweepstakes.
Drop - A grouping of real, physical cards eligible to be won by anyone who participants in a Blokpax RAZZ. Participates are required to acquire Pax for the Drop in order to play.
Rip - The action of opening your Pax for a upcoming Drop in a Blokpax RAZZ.
Eliminations - The act of cutting the number of RAZZ tokens in half during Blokpax RAZZ drops. Also known as a “Thanos Snap,” for those familiar with The Avengers Movies.
Vault Token - The digital representation of the physical Blokpax asset.
RAZZ Token - The digital representation of a trading card in a Blokpax RAZZ Drop that particpants could win.
Physical Asset Proof - A physical proof of ownership of the underlying asset.
NFT Asset Proof - A digital proof of ownership of the underlying asset.
Strike Price - The set price at which a Blokpax asset in the @fraxionals and Crowdslabs collections can be bought or sold.
Expected Value (EV) - The anticipated value for a given investment at some point in the future.
Collision Frax - A one-of-a-kind fractionalized physical asset tied to artwork that can be seen on the collision.art website.
Heirloom Fraxional - A fractional shared ownership of iconic collectibles based on provenance and collecting.
Joint-ownership Unit - A shorter-term fragmented ownership of higher-end trading cards with 24/7 liquidity and best for the flipper mentality.
Genesis - The very first Blokpax RAZZ Drop that took place in August 2021 and produced the GENESIS Frax on collision.art.
Mamba - The Frax artwork tied to the 1996 Topps Chrome Refractor #138 PSA 10 asset in collision.art.
100 Legends Series - A series of artworks tied to physical assets in Blokpax RAZZ Drops.
Blokpax Ecosystem/Community
Ecosystem - The Blokpax Ecosystem consists of Blokpax RAZZ, @fraxionals, and Crowdslabs. Each product is unique and explained more in this post.
F R Ξ N C H I Ξ - Jeff French. Creator and CPO of the Blokpax Ecosystem. @F R Ξ N C H I Ξ is his name on our Discord. and @ethFRΞNCHIΞ is his name on Twitter.
Discord – A community-centric communication platfom where the Blokpax Community lives. Find conversations related to Drops, The Ecosystem, NFTs, RAZZ Token trading, & more. Learn more about Discord here.
Infinite Moments - A Blokpax product designed to immortalize a treasure trove of historically significant moments in the form of a set builder focused NFT collection
RAZZ Pax - The truly exhilarating white knuckle ride. These sweepstakes allow community members to acquire digital Pax in a number of ways that revolve around being active in the ecosystem. Pax are “ripped” similar to a video game experience and each one reveals an entry to win a Vault Token for an underlying physical card (or other prize) through revolutionary blockchain-based game theory where your hopes of winning live or die based on just how diamond-coated your hands really are.
Crowdslabs - Part of the Blokpax Ecosytem. Enjoy shorter-term collecting of high-end trading card fractional units. For those that love the flip life when a card/player gets hot, there’s 24/7 liquidity for your fractional units as NFTs with pre-set exit terms for the underlying card itself. When the card sells, all fractional unitholders are paid out pro-rata to their ownership.
LOT (Ledger of Things) - Users collect LOTTs (Ledger of Things Tokens). These tokens are shared ownership of iconic collectibles with a twist. The value proposition is more about your emotional connection to the underlying asset. To acquire the underlying assets you must own all LOTTs for that particular asset. This helps these NFTs be passed down to many generations to come and live forever as NFTs from these earliest days of blockchain-based provenance and collecting. *Note: LOT is the @fraxionals rebranding
Collision.art - Collect NFT artworks where each limited edition holder also shares ownership in an underlying physical asset that is thematically tied to the art. When the asset sells, art edition holders get a pro-rata payout based on the specific series terms AND their NFT artwork lives on forever.
Blokpax Experience
Trading/Selling RAZZ Tokens – Once you have ripped your Pax in a Blokpax RAZZ, you may trade or sell your Tokens on the secondary market or OpenSea. For more information on this, click here.
Claim - The act of reserving a Blokpax Ecosystem NFT through a webpage provided by Blokpax.
Connecting wallet - The act of linking your Metamask wallet to your Blokpax.com account for the Blokpax RAZZ. In order to receive your Pax, you must connect your wallet in your Blokpax.com account. To learn how to connect your wallet, click here.
Collecting different collections – reasons why?
What each collection is that we have out right now? This would be good to have for everyone. (Star Wars, HP, etc.?)
Mystery Frax - Randomly distributed NFTs that are dispersed based on a first-come, first claim based via a Blokpax Ecosystem claim page.
Redeem physical card - If after a Blokpax RAZZ has ended you hold one of the remaining ALIVE RAZZ tokens, you can choose to have the card send to you. To request that the card be sent to you, please send an email to help@blokpax.com.
General NFT/Cryptocurrency Terms
NFT - Per Forbes, “a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.”
Blockchain - As defined by IBM, “Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust.”
OpenSea - A peer-to-peer marketplace for NFTs, rare digital items, and crypto collectibles. Also, the place to find RAZZ Vault Tokens, @fraxionals, and Crowdslabs collections.
Metamask - The crypto wallet needed to participate in the Blokpax RAZZ and other crypto projects. To learn how to connect your wallet to your Blokpax.com account, click here.
Wallet Address - A unique identifier that serves as a virtual location where cryptocurrency can be transferred and stored.
Seed Phrase - A personalized and highly confidential string of terms and words generated by your cryptocurrency wallet that give you access to the digital currency stored in that wallet. NOTE: Your phrase should be kept TOP SECRET and should NEVER be given out to anyone at any time including the Blokpax team! We will NEVER ask for your seed phrase!!
Coinbase - A cryptocurrency exchange platform where participants can purchase ETH and other cryptocurrencies.
Matic/Polygon Network - The Matic/Polygon network is a Layer 2 Ethereum blockchain. $MATIC is the currency used for transactions on the Polygon blockchain. Polygon helps reduce gas fees and prevents slow speeds. The Blokpax RAZZ sweepstakes uses the Polygon chain to allow the community to buy/sell/trade without added fees
Matic vs Main chain - “Main chain” is often used to refer to the Ethereum blockchain, while $MATIC (the currency used for Polygon transactions) refers to the Polygon blockchain. The Blokpax Vault and Collision. Art tokens are on the main chain, while the Blokpax Razz, @fraxionals, and Crowd Slabs storefronts operate on the Polygon blockchain.
ETH/WETH - The cryptocurrency needed to participate in buying, selling, and trading on the blockchain.
ERC-20 token - a decentralized currency living on the Ethereum blockchain. Many projects create their own ERC-20 token for use within their community.
ERC-721 token - an NFT token type that is most commonly used in PFP/Avatar collections. Each ERC-721 is its own unique token with a unique identity.
ERC-1155 token - an NFT token type that is best used for multi-token management and transactions and is the token of choice for many of Blokpax’s projects.
Floor Price - The bottom/lowest listed price at which NFTs in a particular collection is selling.
Sweep the floor - The act of purchasing all NFTs in a collection at the bottom/lowest listed price.
Gas - The fee paid on an NFT trading platform when making transactions on the blockchain.
Metaverse - A combination of virtual and augmented reality that allows users to experience life in a digital universe.