Recently, the price of Bitcoin (BTC) has approached the historic high of $100,000, and most market funds have flowed into the BTC trend, causing most tracks to be lukewarm, except for MEME tokens and the new hot spot DeSci. Among them, Web3 games, which have long been lacking in wealth effects, have become one of the worst-performing assets in the recent period, and the valuations of newly issued tokens have almost universally plummeted. However, the Web3 game solution Open Loot launched on The First trading platform has emerged as a dark horse, becoming one of the few outstanding projects that have bucked the trend in the current market.
What is Open Loot? How did it quickly become popular in the market and break out of the dormant NFT chain game market? What surprises will it bring us in the future? Let's take a look at the new token Open Loot launched on The First.
I. What is Open Loot
As a Web3 game distribution platform and marketplace, Open Loot is committed to providing infrastructure support for core to hardcore games, solving common pain points in blockchain games, such as usability, scalability and compliance. Currently, Open Loot mainly manages all the infrastructure, crypto and non-crypto item sales and leasing of the 3A-level MMORPG chain game Big Time. According to official data, the platform has had over 2.7 million transactions in the past year, with a total transaction volume of over $32 million.
Through its unique Vault technology, Open Loot eliminates the obstacles to a smooth experience, such as connecting crypto wallets and paying high gas fees, allowing players to buy and sell Non-Fungible Tokens (NFTs) without paying gas fees, while retaining flexible blockchain minting options. At the same time, the platform's NFT marketplace provides services customized for Web3 games, including NFT leasing, price history records and non-crypto currency markets, further optimizing the game economic ecosystem. Open Loot provides a full set of development tools from game launchers to crypto currency integration, helping developers quickly implement projects and meet player needs. Meanwhile, leveraging the successful experience of Big Time, the platform can provide comprehensive guidance to partners in areas such as marketing strategies and token design. Its differentiated advantage lies in the fact that in addition to infrastructure, Open Loot pays more attention to the overall solution for operations and distribution.
II. Open Loot Technical Features
NFT and Token Management Technology Open Loot provides efficient NFT and token management support, injecting vitality into the trading of in-game virtual assets. Players can trade NFTs through direct sales, auctions or opening loot boxes (lottery mechanism), enhancing the liquidity and fun of game assets.Payment and Compliance Management Technology The platform supports a variety of payment methods including cryptocurrencies, debit cards, credit cards and bank transfers, ensuring convenient participation for global users. At the same time, the integrated anti-money laundering (AML) and know-your-customer (KYC) functions provide a guarantee for the compliance of transactions, helping to build a transparent and secure ecosystem.Game and Market Integration Analysis Technology With powerful analysis technology, Open Loot can deeply integrate game and market data, helping developers and the platform fully understand user behavior and market trends, providing data support for optimizing operational strategies and product decisions, and helping developers gain an advantage in the highly competitive chain game market.
III. Open Loot Team Introduction
Open Loot was created by the core team of Big Time Studios, bringing together top developers from gaming giants like Electronic Arts and Tencent, as well as those who have participated in Fortnite, Call of Duty and League of Legends. The founder Ari Meilich is also the co-founder of the metaverse platform Decentraland, with rich industry experience.
IV. Open Loot Token Economics
As a benchmark in the Web3 gaming field, Big Time Studios, with the success of Big Time and the innovative ecosystem of Open Loot, has already exceeded $500 million in market trading volume. The latest launch of the OL token as the platform's first utility token not only provides more value to players and developers, but will also become the core pillar of the Open Loot ecosystem.
Big Time Studios founder Ari Meilich said, "We have disrupted the traditional token issuance model. Unlike the common fundraising methods, the release of the OL token this time is aimed at giving back to our player and developer community." As an ERC-20 token based on the Ethereum blockchain, the total supply of $OL is 5 billion, and it adopts a fair distribution model, focusing on community-driven development. Its core functions are mainly to provide game privileges for players and developer tools.
- Player Privileges
- Provide early access to games;
- Enjoy discounts on premium NFTs and opportunities to acquire rare assets;
- Receive generous rewards by completing challenges or participating in special activities.
Developer Tools
- Help game developers enhance user interaction, design social features, competitive activities and promotional activities through $OL rewards, promoting player engagement and retention.
$OL adopts a community-first distribution model to ensure that tokens are not allocated to the team or investors. The distribution is as follows:
- 50% User Rewards: Incentivize deep participation and platform activities;
- 20% Marketing and Community: Support ecosystem marketing and OLRP transition plan;
- 30% Treasury and Ecosystem: Liquidity support and ecosystem expansion.
Starting from November 19, 2024, active ecosystem users can convert their OLRP credits at a ratio of 100 OLRP = 1 $OL to participate in the ecosystem construction, and users who contribute to the ecosystem will have priority in the distribution. Through $OL, Open Loot will achieve closer connections between players and developers, promoting the fairness, interactivity and sustainable development of Web3 games. This innovative token model will help Open Loot build a truly community-centric blockchain game ecosystem.
V. Open Loot Market Value Analysis
$OL was listed on The First spot market on November 26, 2024 at 16:00 (UTC+8). As the first utility token launched by the Open Loot platform, $OL was launched on November 19, with an opening price of $0.01. Within just two hours of its launch, the price soared to $0.148, a surge of 1480%, and is currently stabilizing around $0.12. Although the current market is in a bull market, with Bitcoin (BTC) price stabilizing above $90,000, the overall environment is favorable for new token issuance, but the token enthusiasm in the Web3 gaming field is relatively less hot than the meme coins. Relying on its strong technical capabilities and market support, Open Loot is gradually building a complete Web3 gaming ecosystem. Through a fair distribution model, $OL does not allocate tokens to the team and investors, but uses them for user rewards and community growth, laying a solid foundation for its long-term development.
Currently, the price of $OL may continue the typical trend of new coin issuance, that is, after the initial price surge, there will be a pullback, and the price is expected to pull back in the short term, and then consolidate sideways. For short-term investors, it is suggested to operate cautiously during the price pullback and control the risk. For investors who are optimistic about the long-term development of the Open Loot ecosystem, it is suggested to deploy at an appropriate time after the price adjustment. If you are interested in the long-term potential of the $OL token, it is recommended to trade and purchase through the The First (byef.com) platform, seize the opportunity, and enjoy the high-quality user experience and trading liquidity. The First provides a convenient and secure purchase method, allowing you to easily participate in the future of Web3 games. Please be sure to closely monitor market dynamics and adjust your investment strategy in a timely manner. In general, although there may be a risk of pullback in the short term for $OL, the growth potential of the Open Loot ecosystem is worth looking forward to in the medium and long term. For investors who have confidence in long-term holding and are optimistic about the Web3 gaming industry, the current stage is still a good investment opportunity.
