What is LootRush? LootRush is an NFT rental platform built and developed on the Ethereum ecosystem. LootRush is also backed by many famous investment funds such as Paradigm, A16Z and Combinator. So why does LootRush have such appeal? Let’s find out together in the article below.
LootRush Overview
What is LootRush?
LootRush is an online service that allows players to rent NFTs (digital assets) in games. You can choose NFTs from various games, paying a fee to use them for a certain period of time. When you rent, you have the right to use the NFT as if you owned it, receiving benefits from it. The service supports over 1000 games and allows NFTs to be returned at any time.
LootRush stands out because of its in-game NFT rental mechanism, providing the opportunity to experience and use NFTs without having to buy them. This gives players access to expensive or rare digital assets in the game without large investments.
Additionally, the service supports a variety of games and offers flexibility in renting and returning NFTs.
LootRush’s mechanism of action
LootRush’s mechanism of action goes through a number of basic steps as follows:
- Step 1: Users select NFTs that are being rented on the market.
- Step 2: After renting NFT will be transferred to LootRush wallet. This wallet will operate in parallel with the Metamask wallet.
- Step 3: User returns the NFT and a portion of the rental fee.
The special point here is that users do not need to mortgage assets, thereby unlocking the liquidity of a large amount of NFTs in today’s Crypto market. Additionally, users can easily profit from their NFTs.
Development Roadmap
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Investor
- May 5, 2022: LootRush successfully raises $12M with participation from Paradigm and Andreessen Horowitz (a16z).
Core Team
Anderson F.: Founder & CEO
- Anderson earned a Bachelor of Business Administration degree from Cao Dang Babson.
- After graduating, Anderson worked as a software engineer at MadeinWeb Internet Solutions and then founded Plaay – Brazilian music streaming service for Windows, Mac, Linux, iPhone and Android devices. Using Plaay, Brazilians can listen to millions of songs for free, create playlists and share with friends what they are listening to.
- Anderson went on to found Voxus – a platform created to drive e-commerce growth using programmatic media technology. After working with Voxus for more than 9 years, Anderson officially built LootRush from September 2021 until now.
Tokenomics
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Exchanges
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Project Information Channel
- Website: https://www.lootrush.com/
- Twitter: https://twitter.com/LootRushGames
- Facebook:
Summary
LootRush is one of the prominent NFTFi projects in the Crypto market with a different model. Hopefully through this article everyone can understand more about what LootRush is?
