Loot Exchange: A community marketplace

[Peter_Watts]

Loot Exchange is a community marketplace dedicated to the Loot Universe. We created it with three goals in mind:

1. Lean-in to Loot-specific features, in order to offer a better UX
2. Give the community control over the functionality they want in a marketplace
3. Create a vehicle for collecting royalties, to enable experimentation in community funding

We now have a functional V1, and want to open it up for the community to participate.

Notable Features

• No platform fees
  • All royalties (currently 1%) go to a treasury controlled by Loot token holders, to reinvest back into the community.
• Designed for Loot
  • Includes UX touches like character art and rarity color-coding that general-purpose marketplaces lack.
  • Can also support non-standard Loot features like Extensions and Synthetics
• Aggregated Order Book
  • Includes both Open Sea orders and native Loot Exchange orders. This helps to avoid fragmented liquidity
• Open API
  • Fetch metadata and market information. No API keys required.
• Battle-tested contracts
  • Leverages the same exchange contract as Open Sea (Wyvern), which minimizes risk
  • Anyone who has approved Open Sea for trading does not need to re-approve

Progress

Core Front-End design
Metadata and Order APIs
SDK for signing and submitting orders
Support for original Loot Bags
Selling UX
Purchasing UX
Loot-specific rarity data
Community treasury for managing royalties
Support for More Loot and other derivatives
Support for Extensions
Show which Loot derivatives
Bids / Offers UX

Credit

Loot Exchange was built by @lunarmayor, @jmaier, georgeroman, imdiego and ptrwtts

We met in the #loot-marketplace-dev discord channel and joined forces to bring it to life.

If you’re interested in contributing code or ideas, please reach out on Discord!

[Peter_Watts]

I was only allowed 2 links in the main post, so here’s some more:

• Github
• Community Treasury details

[antifragileloot]

This may be the most incentive aligned project building on top of Loot as of right now since the treasury is governed by OG Loot bags. You have my full support.

[Hierux]

Great first primitive for the community to continue to build around. Personally I feel like individualized market places are the future for NFTs - they allow for more community control and input into relevant features.

Thanks for creating this. Looking forward to seeing Loot Exchange develop!

[Minebuu]

How about applying “loot rarity” tool to the exchange for rarity color-coding?

GitHub - bpierre/loot-rarity: 🤍 💚 💙 💜 🧡 ❤️ Rarity levels for Loot.

Rarity color for opensea: https://loot-rarity-for-opensea.bpier.re/

I always use these two tools for searching new loot.
Also, it would be nice to have a rarity category in the exchange and show the flow price for each rarity.

[dom]

This is incredible! Is the Compound DAO already fully functional?

[cedricodelavega]

Creating a marketplace is an excellent base to start the LOOT economy and I think that AGLD fits perfectly as the official currency of the Loot Exchange.

This is very encouraging for the future of the ecosystem.
Thank you guys!

[Peter_Watts]

Yes it’s fully functional and ready for proposals!

https://treasury.loot.exchange/

There’s a Rinkeby version too that can be used to create proposals and vote with Rinkeby Loot:
https://treasury.rinkeby.loot.exchange/

[Peter_Watts]

Yeah, we have some basic rarity coloring on the individual bag page, but agree it would be most useful if it was on the home page and filterable.

[dom]

Adding to that, I wonder if a hybrid view that incorporated both character and list as the “default” view would work well?

[lunarmayor]

that would be pretty cool. gives a little more room to explore things like showing rarity.

[matthewchaim]

Incredible work. This is very exciting!!

[jmaier]

One thing I’d love to chat about is mechanisms to drive listing on LE. We all want the community to grow and LE helps with this when people sell items on LE, THAT ARE LISTED ON LE. LootExchange will also process a transaction that is listed on OS - but then the normal 2.5% fee to OpenSea is required. It’s true sellers get a 1.5% haircut compared to OS if they don’t share the savings with the buyer, but maybe there are other ways to incentive switching. Some that come to mind:

1. Using the treasury to prompt selling on LE - promise of funds for random bag in first X sellers.
2. Putting in a filter to only see LE bags
3. Put a royalty on LE bags listed on OS.
4. Create a simple dedicated website (or place on the LE) for simple, one-click free relisting

But other ideas would be great!

[dom]

This looks great! Feels very tangible.