The world of Web3 gaming and NFT innovation continues to evolve, and one of the most anticipated token sales in recent times is the Element Black (ELT) launch via OKX Jumpstart. Designed to bridge celebrity culture with decentralized digital ownership, ELT aims to redefine how users engage with NFTs in the metaverse. This comprehensive guide walks you through everything you need to know about the ELT token sale, including participation requirements, pledging mechanics, and the innovative vision behind Element Black.
What Is Element Black (ELT)?
Element Black (ELT) is a Social-Fi NFT game development platform pioneering an NFT 2.0 and Create-To-Earn ecosystem. Unlike traditional NFT projects that focus solely on collectibles or speculative trading, ELT integrates social engagement, content creation, and celebrity partnerships into a unified digital experience.
The project positions itself as a next-generation PUGC (Professional User-Generated Content) NFT distribution platform, connecting Web 2.0 influencers and global brands with Web3 audiences. With high-profile collaborations already in place — including music icons like Akon and DJ Snake, filmmaker James Gunn (Guardians of the Galaxy, Suicide Squad), and former Oscar president Sid Ganis — Element Black is building a powerful bridge between mainstream entertainment and blockchain technology.
- Token Name: Element Black
- Ticker: ELT
- Total Supply: 4,000,000,000 ELT
- Blockchain Protocol: ERC-20
- Launch Date: April 12, 2022
👉 Discover how ELT is shaping the future of social NFTs and digital creativity.
OKX Jumpstart: ELT Token Sale Overview
OKX Jumpstart is a premier platform for early-stage crypto projects, offering users exclusive access to promising token sales through a fair and transparent allocation system. The ELT sale was hosted on this platform to ensure equitable distribution based on user commitment and ecosystem support.
Key Sale Details
- Sale Date: April 20, 2022 (UTC)
- Pledging Window: 02:00 AM – 10:00 AM UTC
- Token Price: $0.007 per ELT
- Accepted Currency: OKB only
- Total Tokens Allocated for Sale: 40,000,000 ELT
The exchange ratio between OKB and ELT was determined using the OKB market price at 4:00 PM UTC on April 20, 2022, ensuring fairness and real-time valuation alignment.
How to Participate: Eligibility & Requirements
To take part in the ELT token sale, users had to meet specific eligibility criteria set by OKX to maintain security, compliance, and fairness.
Participation Conditions
- KYC Verification: Users from supported regions were required to complete Level 2 KYC verification.
- Trading Volume Requirement: Participants needed to have an accumulated trading volume exceeding $5,000 within the 30 days prior to the sale.
- Geographic Restrictions: Due to regulatory compliance, users from certain jurisdictions — including the U.S., China (mainland and Hong Kong), Canada (Ontario, Quebec), Iran, North Korea, and others — were not eligible to participate.
These measures ensured that only qualified and active members of the OKX community could join the sale.
Maximizing Your Allocation: The Allotment Coefficient System
One of the standout features of OKX Jumpstart is its fair allocation model, which rewards long-term platform supporters. Your chance to receive ELT tokens was directly influenced by your OKB holdings over a 3-day snapshot period (April 17–19, 2022).
Snapshot Rules
- Daily snapshots were randomly taken across all account types: Funding, Trade, and Finance Accounts.
- Both minimum and average OKB holdings during the 3-day window were calculated.
- The higher of the two corresponding allotment coefficients was applied to each user.
Allotment Coefficient Table
| OKB Holding Range | Min Holding Coefficient | Avg Holding Coefficient |
|---|---|---|
| [0, 10) | 1 | 1 |
| [10, 50) | 8 | 4 |
| [50, 100) | 16 | 8 |
| [100, 500) | 20 | 10 |
| [500, 1,000) | 30 | 15 |
| [1,000, 2,000) | 36 | 18 |
| [2,000, ∞) | 40 | 20 |
For example:
A user holding 50 OKB, 2,000 OKB, and 3,950 OKB over three days has:
- Minimum holding: 50 OKB → coefficient = 16
- Average holding: (50 + 2,000 + 3,950)/3 = ~2,000 OKB → coefficient = 20
- Final allotment coefficient used: 20 (the higher value)
This system encouraged consistent OKB staking and rewarded loyal users with better allocation odds.
Step-by-Step Participation Guide
Step 1: Boost Your Allotment Coefficient
Hold more OKB across your accounts during the snapshot window. The higher your balance — especially if maintained consistently — the greater your coefficient.
Step 2: Prepare for Pledging
Ensure you have sufficient OKB in your account before the sale begins. Only OKB can be pledged; no other assets are accepted.
Step 3: Submit Your Pledge
During the 8-hour window (April 20, 2:00–10:00 AM UTC), users could pledge OKB for ELT tokens. Each participant’s maximum pledge limit was capped at 260,000 ELT, with a minimum of just 1 ELT.
Once pledging ended:
- Tokens were credited to users’ Funding Accounts
- Corresponding OKB was deducted
- Any unallocated pledged OKB was automatically released
👉 Learn how top-tier Web3 projects launch with community-driven token sales.
Frequently Asked Questions (FAQ)
Q: What is the purpose of the OKB snapshot?
A: The snapshot determines your allotment coefficient based on your OKB holdings from April 17–19. It ensures fair distribution by rewarding users who actively support the OKX ecosystem.
Q: Can I use assets other than OKB to participate?
A: No. Only OKB is accepted for pledging in OKX Jumpstart events, including the ELT sale.
Q: How is the final token allocation calculated?
A: Allocation uses a formula combining your allotment coefficient and total pledged amount relative to overall demand. If demand exceeds supply, pro-rata distribution applies.
Q: When will I receive my ELT tokens?
A: Tokens are automatically credited to your Funding Account shortly after the sale concludes.
Q: Why can’t users from certain countries join?
A: Due to evolving global regulations around digital assets, OKX complies with local laws and restricts access in sanctioned or non-compliant regions.
Q: Is there a risk in participating?
A: Yes. Like all crypto investments, ELT carries market risk. Prices may fluctuate significantly post-launch. Always conduct independent research before investing.
The Bigger Picture: Why ELT Matters
Element Black isn't just another NFT project — it's a cultural shift toward decentralized creativity and fan-powered economies. By integrating real-world celebrities into blockchain-based gaming and social experiences, ELT enables fans to co-create, trade, and interact in immersive digital worlds.
Its Create-To-Earn model incentivizes original content creation — not just passive holding — making it a true evolution beyond Play-To-Earn or Move-To-Earn trends.
With strong backing from entertainment industry leaders and a clear roadmap for expansion into fashion, music, and film-based NFT experiences, ELT represents a bold step toward mass adoption of Web3 technologies.
👉 See how innovative token launches are transforming digital ownership and fan engagement.
Final Notes
While the ELT token sale has concluded, its impact continues to unfold in the broader NFT and Social-Fi landscape. For those who participated, it was an opportunity to get in early on a visionary project merging pop culture with decentralized innovation.
Always remember:
"Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risks involved and consider your experience level and investment goals. Seek independent financial advice when necessary."
OKX reserves the right to disqualify participants involved in fraudulent activity or rule violations. Eligibility and participation are subject to change at OKX’s sole discretion.
Keywords: Element Black, ELT token, OKX Jumpstart, NFT 2.0, Create-To-Earn, Social-Fi NFT, ERC-20 token, Web3 gaming