Some questions for people way smarter than me. Far from a crypto/blockchain brain, I have a hard time understanding how anyone interested in Loot can create value upon it without having an original bag.
Wouldn’t it be beneficial to allow anyone to mint a bag, even if let’s say it was filled with common items, for inclusion purposes? An original bag would still be a lot more valuable simply because of how rare it is.
I understand that Loot started as an experiment with a limited number of bags, but how can the community grow? How can we motivate people to expand and add value to the ecosystem when the only way for them to gain a bag/get started is to purchase one for 30k+?
I hope this doesn’t come off as a complaint - it really isn’t, I love the project! Just looking for a discussion.
I totally agree with you! So in that case, growing the community and building the ecosystem would be the task of the 2 507 holders of LOOT, as it is only advantageous for them - correct?
I don’t think it is only for them. because there are Mloots too
And if you can build a great project? you can sell the NFT or games to Loot & Mloot holders.
You can leverage them to earn money. You are not required to do marketing because there is already a community for you, I think this is a great thing of Loots.
You are just expecting the investment profit but developers are expecting the business, taking Loot holders money. See the derivatives, put some words in black background and making money haha
I think loot holders will eventually lose their money but developers will earn money
I do have some mLoot as I wanted to dip my toes! So you’re saying that building tools for the holders would be a way to generate value? Also, building a derivative related to loot could be a way to use create something of value, in the same ecosystem, while not actually owning an OG Bag? I appreciate the back and forth, thank you for taking the time.
Yeah, currently see the derivatie projects, they are building the ecosystem based on their nft not Loot or Mloot. They are just using Loot to promote their NFT. Ecosystem can came out from Loot, but Loot can not do anything with that ecosystem; no access without derivative NFT.
So maybe you are looking for fun, you should buy derivative NFT, not loot or mloot.
Think about “do you want to buy Loot that every derivative has already claimed?” Loot is not a key for every project.
If derivaties have claimed? key is taken away from Loot.
Loot maybe has the value due to symbol as first words NFT. Not the function, same as Mloot.
I dont think they are investment tool as cryptopunk
I agree with the various posters above. Loot planted the initial seeds of the Lootiverse but it’s already grown to be so much more: adventurers, monsters, dungeons, villages, realms, stories.
That’s why I set up my Legendary Lineages derivative the way I did - it plays well with Loot, mLoot, and other aspects of the ever-growing Lootiverse by providing the context of a family legacy to heroes, villains, and NPCs within the world. But it’s not limited to only those who already have Loot. Go buy a Realm and establish your Lineage as its kings. Or go buy an adventurer and make him or her a scion of the Indomitable Clerleones, Oracles of the Fallen Shroud.
Many of these derivatives are still free plus the cost of gas (mine just launched this weekend) so, if Loot’s priced out of your range, go be part of the aspects of the Lootiverse that you’re passionate about. There’s lots of room left to play.
If you want to join Realms universe? you should hold Realms NFT not a Loot
If you want to join Abstract Loot universe? you should hold Abstract Loot NFT not a Loot
So how you can call Loot as ticket for “Multiverse or Metaverse” lol
If you sell your Loot after minting Realms? That Loot has nothing to do with Realms. Eventhough you pay 30k, you might have a chance that you can not mint Realms NFT. So why not rather buy cheap and 100% sure Realms NFT to join Realms?
Loot is the start of various projects but your thinking that 'Loot is a ticket for every project’ is actually wrong. Loot bags give you a “right” to claim the ticket, only if you are the first claimer.
Developers are not volunteers. If they build the metaverse on Loot, they can not sell NFT.
Therefore, they will create their world on their NFTs, not on Loot
There was a lot explained and discussed from the posters here that I agree with. I believe that this is something we should all, as a community, consider discussing to come up with ideas to raise the value of Loot.
I think the question you asked is a very good question.
Loot was born with its limited supply, early investors got very good returns, and agld too.
However, I think that if the mint of loot is completely stopped, it will be very unfriendly to the people who join later, but if the mint of loot is free, then the loot will no longer be valuable.
By the way ,as the governance token of the loot community, AGLD does not integrate well with loot at present.
Therefore, if we want the loot meta-universe to erupt, I think the mechanism needs to be upgraded.
My suggestion is that you can use AGLD to mint Loot, for example, use 1000 agld to mint once.
At the same time, if you think your Loot attribute is not good, you can also destroy the loot and replace it with agld, but you must accept a certain amount of loss.
At the same time, in order to allow people who hold loot for a long time to obtain higher value, loot should add time value attributes, such as the concept of level.
Yeah, this is the situation that I told a month ago. Basically, there is no incentive to own Loot to enjoy Lootiverse, whereas they can fully enjoy the Lootiverse by purchasing Loot derivatives. And, this situation is inevitable because developers have no incentive to create content for Loot only without creating derivative NFTs. Therefore, derivatives value has rapidly increased while OG Loot price & volume have shown a constant decrease.
Let’s see the case of the best project in the Loot community, Genesis Mana. If the genesis items are minted once from the Loot, Loot and Genesis Mana are separated projects from the point. Although you own the Loot, you can not do anything with Genesis Mana. But the projects just share the same idea, like Crypto Punks and numerous fake punks.
And as an investor, I feel more attracted to Genesis Bag than Loot bag due to the projects’ creativity and solid progress. Moreover, the market proves this situation with the trading volume of each project (Genesis Mana is about to catch up with Loot’s trading volume !!!).
This is the reason why I said Loot is not an investment method, but it is just a symbol of decentralized spirits, which I love.
There are a lot of points that I agree with within the posts above. We, as a community, should be addressing these issues to come up with a way to increase Loot value and significance.
Let loot holders stake their loot to earn a token. Use the token’s treasury to fund projects that want to use our token. The price of loot will increase as the price of the token increases. The token can be AGLD, but if the AGLD community doesn’t want inflation we can create a new token and make it the official loot currency. It’s much easier to get projects to use a token than it is to use our loot bags.
