In recent days, the emergence of Loot has pushed NFT to a new climax again.
On the one hand, the price of Loot has soared. The floor price once exceeded 18 ETH, and the total transaction volume has exceeded one trillion U.S. dollars. On the other hand, the industry has carried out a lot of innovations based on Loot, and a bottom-up open experiment is in full swing.
What exactly is Loot? What impact will its emergence bring? What is the future development path? In response to these issues, Cao Yin, Managing Director of the Digital Renaissance Foundation, launched an online live broadcast on the evening of September 3 to fully share his views.
As an early Loot player, Cao Yin not only holds double-digit Loot, but also Mint the People's Punk pLOOT project for the first time as a community member, which combines CryptoPunk and Loot. Was cast to finish.
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In order to help everyone get to know Loot in depth, OKEx Research exclusively compiled the essence of Cao Yin’s live broadcast content:
1. Loot does not represent a closed system, but an ecology that is open enough to encourage openness. It is a great new paradigm of games, which is completely different from the previous blockchain games. It will not only affect games in the future, but also affect the organizational form of the entire society.
2. The encryption industry has entered the deep water area, and DeFi has completed the first step. At present, NFT can bravely say that it has started the second wave of encryption revolution. The emergence of Uniswap has brought DeFi into explosive growth, and the emergence of Loot represents the explosive growth of NFT.
3. The outbreak of DeFi actually started from Uniswap. The DeFi before Uniswap was just to move the business of CeFi to the chain, and the emergence of Uniswap brought a new paradigm of financial transactions. The previous NFT was like DeFi before the emergence of Uniswap. It was not particularly meaningful, but it still had social features. For example, if you have a CryptoPunk, it can prove that you are a very rich person, but it lacks composability and application scenarios. Openness is basically done by the team itself. The emergence of Loot is like Uniswap. One is to build a new paradigm, and the other is to open a new era of NFT composability.
4. People with foresight and sensitivity see Loot just like seeing Uniswap at the beginning, even more excited than seeing Uniswap, because what Uniswap most changes is DeFi, and what it changes is the paradigm of financial transactions. After the emergence of Loot, it may give birth to a new social organization model. Therefore, Loot has very important historical significance. Like CryptoPunk, it will become a commemorative and socially valuable core asset. In the future, Loot is even more important than CryptoPunk, because the future CryptoPunk will not necessarily prove that you are rich, but the composability and evolution of Loot will change many things.
5. There have been many Loot derivative packages in recent days. It is hard to say which one is better, but the sooner it is recognized by the core Loot community, the better. The success of the Loot derivative package depends on three points: first, whether you can make full use of interactivity, and put yourself as a piece of the puzzle into the big Loot story line; second, whether the timing is early enough, do it today and do it a month later It is definitely different; the third is whether the story setting is closely integrated with the original Loot.
6. The current Loot is still very early, you can create everything based on Loot. We are in the very early stages of creation, and enough creation will take place to form a storyline, and within the storyline will form interactivity.
7. The creation of Loot is divided into two parts. The first step is the creation of metadata. It starts with the creation of equipment, first there are equipment, then there are people, and then there are various scenes. The second step is the creation of scenes. , visualize based on metadata. This is equivalent to creating the most abstract thing first, and then improving it step by step.
8. The development of NFT is divided into three stages: one is CryptoPunk, the other is Art Blocks, and the third is Loot. You will find that the development trend of NFT is becoming more and more abstract, and when Loot comes, the rules will be put on the chain. The emergence of Loot did not pop out of a rock, but developed step by step from CryptoPunk, which is the result of the abstraction of rules. Therefore, we are both familiar and surprised when we see Loot. The familiarity is that if you study NFT in depth, you will naturally foresee the appearance of Loot, but you will still be surprised when it actually appears.
9. How will Loot develop next? It should be Loot first, then enter the Art Blocks stage, combine the metadata of Loot to generate scenes, and then there will be specific and visual gameplay like CryptoPunk, including games and even financial transaction scenes. This process is very interesting and belongs to a very advanced gameplay.
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epilogue
At present, the discussion about Loot in the industry is still going on, and there are many people like Cao Yin who sing the praises. However, there are also opinions that Loot's popularity is the result of market hype, and it may eventually become a new generation of leek harvester.
In any case, the emergence of Loot has brought new inspiration to the entire industry, and more and more practitioners are making bold innovations based on Loot, which may itself be the progress of the NFT market.
As a participant in the NFT market, Ouyi OKEx announced on September 2 the launch of the NFT platform OKExNFT, allowing users to freely create and trade NFTs.
In addition, Ouyi OKEx also launched AGLD on September 3, providing investors with low threshold opportunities to understand and participate in Loot ecological investment. According to the market, AGLD opened at 2.0001U, the highest rose to 8.5U, and the opening rose by more than 324%.
Just before the publication of this article, the founder of Loot announced the launch of the dynamic supply of More Loot, with an annual output of about 250,000. Affected by this, the floor price of Loot and the price of AGLD both went down. However, from the perspective of the entire market, the industry's attention to Loot is still increasing.
It is foreseeable in the future that Loot's influence on the NFT market will continue. As for whether Loot can build a new social paradigm, we might as well wait and see.
