In literature, putting words together can make you a famous writer. In the NFT market, putting words together can turn you into a rich billionaire. You heard right, Loot Project is a project that has created many billionaires in the NFT market. So what’s special about Loot Project? Let’s find out in this article.
To better understand the project, you can read some of the articles below:
- What are NFTs? Criteria for evaluating an NFT project
- What is NFT? All About NFTs
Loot Project Overview
What is Loot Project?
Loot Project is a collection of NFTs in a variety of formats. Initially the project was limited to 8,000 NFTs corresponding to 8,000 Loot Bags. Each Loot Bag will contain 8 different items including: Head, chest, arms, legs, neck, rings, belts, weapons,… Each item in the bag will have a different popularity and it is usually large. represents the value of that Bag.
Mechanism of action
Unlike other NFT projects, most of the project team will release NFT versions and identify its specific use cases in gaming, metaverse,…
Loot Project is completely different, they build projects from the bottom up. The project team instead of defining specific uses for the Loot Bags, they just created Loot Bags without any use cases. Users and developers can freely create and develop features and projects for Loot Bag. In general, there are 5 types of applications for Loot Bag: Community building, tools for developers, groups, market tracking tools, derivative projects.
- Build community: It allows Loot owners and fans to come together to discuss new ideas and build Loot Bag kits. Currently on the market there are two quite large communities: Loot Builder Discord and Loot Community Discord
- Tools for developers: Developers will use Loot Bag to create characters and images for their games or applications. For example: Loot Sound is a project to create sounds from Loot Bags, each product in a Loot bag will have a different sound and Loot Sound is a combination of the effects of these sounds.
- Team: A number of guilds have been created that require their members to store certain items in Loot Bags. If you want to join and become a member of that group, you must prove that you have items in your Loot bag.
- Market tracking tool: A tool for you to determine what item an NFT contains, where it is located and what its market value is.
- Derivatives market: Currently, there are many projects that allow you to stake Loot Bag to participate in their application. Some games have emerged such as Loot Dungeon, which allows you to stake Loot Bags to fight monsters and receive rewards.
In the first phase, the Loot Project is limited to only 8,000 Loot Bags, but now you can mint Loot Bags in any quantity if you want.
Development Roadmap
Update…
Core Team
The founder of the project is Dom. He is the founder of many famous NFT projects such as Nouns, Blitmap. The success of these projects has greatly contributed to creating the reputation of Loot Project.
Investor
Update…
Tokenomics
Information about Loot Project tokens
- Token Name: Loot.
- Ticker: AGLD.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x32353a6c91143bfd6c7d363b546e62a9a2489a20
- Total Supply: 72,760,001 AGLD.
- Circulating Supply: 72,760,001 AGLD.
Token Allocation
Update…
Token Use Case
ALGD token is used as a governance token for the Loot Project ecosystem.
Exchanges
Initially, AGLD was given out for free to Loot Bag owners. There was a time when AGLD was up to $7, bringing in $77,000 for those who received the airdrop. Currently people can buy ALGD on the Binance exchange.
Project Information Channel
- Website: https://www.lootproject.com/
- Twitter: https://twitter.com/lootproject
- Discord:
Summary
Loot Project is a project with a unique idea and has received a wave of support from a large number of users. With a new approach, taking the finite (the number of items in 1 Loot Bag) to create the infinite (different use cases of Loot Bag), the project has created a new trend in the market. NFT market, and also serves as the basis for many other projects to develop.
