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(The Winder, Van Gogh)
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(Example of Loot text NFT: #6969, LootProject)
It looks simple, even a little crude. However, as of the writing of Blue Fox Notes, the current floor price of Loot is 12.5ETH, which is close to $50,000 each, which is very expensive.
Loots are adventurer gear randomly generated and stored on the Ethereum chain. Loot was originally issued with a limit of 8,000. Each loot bag contains 8 items: one each for the adventurer's feet, hands, chest, neck, and head. In addition, there are rings, belts, and weapons.
These spaces give the community more space. Some people say that this is an innovation of the NFT paradigm and will have a real impact.
Loot's imagination
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*Free distribution method
At that time, there was not even a website, and the collection was also carried out through the contract on etherscan. This distribution method is in line with the spirit of the encryption community, similar to the way Cryptopunks were claimed for free at the beginning.
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* Groundbreaking
Before the appearance of Loot, people's imagination of NFT was mainly limited to encrypted collectibles, encrypted generated artwork, game items, domain names and so on. In particular, avatar jgp and generated artwork have been hot recently. The emergence of Loot is like a new continent, opening up people's imagination of NFT.
At the beginning, people paid attention to NFTs of the jpg type, such as Cryptopunks, Pudgy Penguins, BAYC, etc. These NFT experiments took advantage of the immutable features of the blockchain to show people the digital ownership of users; The combination of the encryption field has led to the emergence of encryption-generated artworks, which has led to an explosion of generated artworks on the Artblocks platform (such as the Fidenza series, etc.).
Today, Loot takes NFTs to new dimensions. It brings fundamental building blocks to crypto games or metaverses etc. In terms of groundbreaking, it has the same impact on people as YFI during the DeFi boom last year. Therefore, it has attracted attention in the encryption community since its birth.
Loot itself is a building block of the encrypted world. It does not require permission. Anyone can combine it into various projects such as encrypted games, metaverses, and NFTs. Developers can build it in the way they want. At the same time, it will not be exclusive to a certain game, but will be used in any game following its NFT owner. This is a whole new model.
Loot NFT has no ultimate build by artists or core developers, it is open-ended. Loot itself is a building block, not a finished work, and the previous NFTs, whether it is Cryptopunks, Pudgy Penguins, or the Fidenza generative artwork series, are all finished works.
Because of Loot's openness, it has more room for imagination. Some community users have already used it for simple construction, such as generating artwork through it.
In general, Loot makes people realize more clearly that NFT can be used as a building block of encrypted games or metaverses. It can be integrated with other protocols and has independence across protocols. It only belongs to the owner of its NFT. For example, an NFT item such as a saber can be used in different games.
Since Loot is a building block, it means that it has more room for imagination and can be used to construct various possibilities. It is different from paintings hanging on the blockchain, and it is more variable. Assuming the enthusiasm of the community can continue, loot may evolve into a community-owned game NFT platform. Of course, this is also very difficult, as we will mention below.
Someone in the community said: Loot is an impromptu performance of NFT. Whether this impromptu show will succeed or fail in the future depends on the evolution of the community. No one knows for sure what the future holds.
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(Loot's daily floor price trend, Duneanalytics)
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*Loot's NFT valuation exploration
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In loot, there are a total of 8,000 NFTs, each with 8 items, and a total of 64,000 items. Among them, there are 30,237 common items, which appear 375 times or more; 8,073 unusual items, which appear less than 375 times; 7,537 rare items, which appear less than 358 times; 6,587 epic items, which appear The number of times is less than 101; the total number of legendary items is 6,189, and the number of occurrences is less than 10; the total number of deified items is 5,377, which only appears once.
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Loot's community governance token is AGLD, which was allocated to Loot holders for the first time. At the beginning, its NFT holders received 10,000 AGLD. AGLD can determine the future development direction of the Loot ecology, and can also support the ecology through it. But how it develops depends on the community.
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As mentioned above, on the lootcharacter, different Character pixel people can be generated according to different Loot NFTs, as shown in the figure below:
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(from lootvisions)
*More Loot
More Loot is also an NFT launched by Dom, the founder of Loot. It is similar to Loot, but it has a large number. The current upper limit is 1,316,005, and an additional 250,000 are issued every year, which belongs to the dynamic supply model. At present, its holders exceed 18,000, ranking among the top in the NFT field.
*The n Project
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(NFT based on The N Project: #5563 generated generative artwork, Voz work)
*Role
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(Combination of Role and Root, from Role)
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Loot's Potential Vulnerabilities
So, is Loot without any drawbacks? it's out of the question. Everything has two sides. For example, the following two points are the potential shortcomings of Loot:
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*Issuing NFT is easy, but building encrypted games is difficult
Now Loot has some community supporters, and the current holders of its governance token AGLD are close to 5,000. More than 4,000 people who have held Loot's NFT. The community is not very large, and how to motivate people is also a problem.
Building a really fun crypto game takes a lot of manpower and money, where does it come from? This requires Loot to have a public treasury, and this treasury can support developers in the development of encrypted games or other applications. This is the key to supporting the value of Loot.
If these ecological constructions are not implemented, where will the value foundation of Loot be? It is understandable that people have such doubts.
And will other encrypted games take the initiative to use Loot? Not necessarily. Aaron is a developer of encrypted games. In his opinion: "First of all, the NFT in the game must adapt to the theme and content of loot, and secondly, NFT is a very important part of the game economy. If you let loot users take it for nothing After leaving, there is no special motivation for the project side. Even if loot can bring traffic to the project side, the traffic of loot is not very large.”
In the encrypted world, there is no shortage of speculators and bubbles everywhere. So, does the community have enough motivation or organizational strength to spontaneously form a sustainable development ecology? At present, Loot has no clear leader. Hofmann is the initial deployer of the Loot contract, but he said that he is not sure that he will lead the project and will only provide guidance when needed.
The interesting thing about the future is that it will evolve on its own, and anything is possible.
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* Will the birth of various Loots dilute the value of Loots?
It is conceivable that loots with more themes and contents are still on the way, and these different loots may have the opportunity to be used in encrypted games and metaverses.
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High Risks of NFTs
