In the circle of miniatures wargaming (specifically Warhammer 40,000) it's a "type" of team-planning and preparation method that involves at least a year's commitment to working on minatures on a grand and hyper-detailed scale. No one player/person can be "bloid". It's a group-think/group-
work method. Hive mind if you will.
A massively geeky (albeit skilled) group effort to produce a
stunning 'the whole is greater than the sum of the parts' minatures
army. Coordinated artistic and creative efforts that go outside the
normal requirements (expected and unexpected) of the hobby.
Setting new "requirements" for other teams for the next year's event. Bastards making it
hard for everybody else.
Usually used as an exclamation with word "word" - Bloid. Word!
Only by out-bloiding the other teams do you
stand a chance of
even competing at (said event). They left no expense spared and raised the bar in a typical Bloid
fashion. What are you doing? I'm Bloiding.