What is Open Loot (OL)? Learn about Web3 game publishing platform

Open Loot is a Web3 game publishing platform, and the token of this project has achieved quite strong growth recently. So what is special about this project, let's explore it through this article!

What is Open Loot (OL)? Explore the Web3 game publishing platform

What is Open Loot?

Open Loot is a Web3 game distribution platform designed to address the challenges of blockchain games, such as scalability, user experience (UX), and scalability. This platform manages all infrastructure, revenue, and items for the Big Time project.

What is Open Loot?

Highlights of Open Loot

Open Loot provides unique features designed to maximize the experience for both players and developers.

For players

Open Loot aims to enhance the Web3 user experience while still providing all the necessary features to create a thriving marketplace.

• Gaming experience: Players can enjoy the gaming experience without being bogged down by issues like wallet connection, gas fees, or waiting for transactions to be processed. Thanks to Open Loot's patented Vault technology, players can buy and sell Non-Fungible Tokens (NFTs) with low gas fees.

• Special features: Open Loot provides some useful features for the NFT market, including NFT rentals and NFT transaction history checks.

For developers

Open Loot provides developers and partners with everything they need to maximize their chances of success in the Web3 game market. Developer services include:

• Ready-made technology solutions: Open Loot provides a comprehensive, ready-to-use solution that includes all the essential features developers need to meet player demands.

• Consulting support: Leveraging the expertise of the Big Time development team, Open Loot provides strong support in areas like marketing, tokenomics design, ensuring all Open Loot partners receive comprehensive guidance in all necessary areas.

Open Loot's Operating Performance

Open Loot's operating performance. Source: openloot.com (26/12/2024)

Since its inception, Open Loot has processed over 2.5 million transactions with a total trading volume of nearly $300 million.

The number of NFTs traded on Open Loot is over 1 million. Additionally, more than 1.9 million NFTs have been rented through this platform.

Open Loot's Products and Services

Open Loot's Products and Services

Open Loot has 4 main products and services:

• Platform: NFT and token publishing platform for game projects

• Marketplace: NFT trading marketplace

• Reach: Community development service through leading content creators and KOLs

• Strategy: Business strategy support for game projects

VIP Tier

Open Loot's VIP Tiers provide users with exclusive benefits, including reduced transaction fees, special airdrops, and unique features. Access to VIP status is determined by two key factors:

• Activity Points on Open Loot in 30 Days: This is calculated as the weighted sum of all marketplace activities over the past 30 days. The activity weights vary depending on the type of activity.

• Average OL Balance in 30 Days: This is calculated by recording the minimum OL balance in each user's account over 30 days and then taking the average.

VIP Tiers on Open Loot

Basic Information about the OL Token

Token Allocation

OL Token Allocation

• User Rewards: 50%
• Marketing and Community: 20%
• Treasury and Ecosystem: 30%

Token Release Schedule

OL Token Unlock Schedule

What can the OL token be used for?

• Medium of Exchange: Players can use this token to make payments on the marketplace. Users will also receive discounts when paying with OL tokens corresponding to their VIP level.

• Participate in NFT Sales: When participating in NFT sales, users who pay with OL tokens may receive special discounts or exclusive access to certain sales reserved for VIP users.

• In-game Spending: Partner games may allow the use of OL tokens to purchase in-game items.

OL Token Storage

You can store this token in the following types of wallets: exchange wallets, MetaMask, Rabby Wallet, Trust Wallet, and others.

Development team

Members of the Open Loot development team:

• Ari: CEO

• Doug: Chief Operating Officer

• Stanley: Product Manager

• Xing: Lead Engineer

• Matthew Thwaites: Director of Analytics

Development team

Partners

Open Loot has partnerships with many game projects such as: Big Time, World Shards, Boos Fighters The Desolation, Shatter Point.

Partners

Summary

Open Loot is a Web3 game publishing platform developed to solve the problems that blockchain game projects are facing, such as user experience, scalability, etc. The project's token has been listed on exchanges and has achieved impressive growth over time. Through this article, you should have a basic understanding of the project to make your own investment decision.

Note: The information in this article is not considered investment advice, and Coin68 is not responsible for any of your investment decisions.