1. This is a new format, not just animal pictures.
2. This is an ecosystem, not just NFT.
3. It can not only be shared, but also memed.< P >Loot is an experiment. The future of this experiment depends on everyone in the community, even everyone who is interested and willing to help build it. It is both a paradigm shift and a MEME of NFT. Everyone can re-create around a simple text. < p > < / p > < p > < strong > about LOOT < / strong > < / p >
On the official website, only two lines of short English introduction to LOOT : Loot is randomized adventurer gear generated and stored on chain. Stats, images, and other functionality are intentionally omitted for others to interpret.< P >Loot is randomly generated adventurer gear and stored on the blockchain. Statistics, images and other features are intentionally omitted for interpretation by others.
Feel free to use Loot in any way you want. Feel free to use Loot in any way you want.< P > More generally, Loot is a text-only on-chain NFT on a black background that anyone can cast and receive a random set of fantasy adventurer gear, in text form of course, with the rarity of random distribution.
Each Loot contains eight items of equipment, so there are eight lines, each line representing one item of equipment.The total Loot was 8,000, and the creator reserved 222 for himself as a reward (these tokens had the same scarcity distribution as everyone else). Currently, all NFT tokens have been minted and claimed. Loot took a different approach. It was a bottom-up approach. Instead of creators adding value to NFT after it was released, @DHOF let the community determine the value of NFT.
Just as YFI was popular in DeFi Summer, Fair Launch and composability were introduced into NFT system to some extent in Loot. Instead of the top-down ICO logic of most NFT's "make by issuer, buy by user", Loot has created a more decentralized APPROACH to NFT casting where anyone can participate in casting and publishing. Therefore, the value of NFT is no longer tied to a single organization or individual, but depends on the strength and consensus of the community and, in the long run, on the "degree of construction" of future Loot.< P > At present, the high price of Loot comes more from freshness and hype, but the emergence of Loot also provides new options and possibilities for the future development of the whole NFT, giving greater space for imagination. The current Loot is a minimum viable product (MVP), anyone can use Loot and other protocols for combination connection, expansion, similar to DeFi stacking wood, can continue to create and build on the basis of Loot. On the fifth day of creation, many ecological applications have been built around Loot, although they are still rudimentary.
It could represent a paradigm shift in NFT for the better, bringing us closer to cross-compatible games. Loot ultimately represents the building blocks of NFT, and how high they can go depends entirely on the upper limits of the community's collective imagination. It feels like almost the entire community is building an open source role-playing game (RPG) in real time. The fact that they turned the whole script upside down is why everyone is so excited about it.< P >Loot is essentially a minimum viable product that anyone can adopt and extend, build, evolve, and complete in any way they can imagine. So far, the community has at least welcomed this new developmental perspective of NFT, as evidenced by their active participation and the depth of knowledge built around the project. Everyone wants to be a part of it. Look back at last year's DeFi summer and how DeFi Legos like lending and decentralized exchanges (DEX) triggered the emergence of new Legos like Yield Yield aggregators. Now a similar phenomenon is happening with Loot projects. < P > The project's decision to leave no official explanation for Loot is a clever and bold design for the growing number of text versions of NFT. The community was given full autonomy to create Loot. Imagine if you liked some of the features of a Punk, but didn't like the whole look of the Punk, and if you changed it to fit your style, the 'identity' of the Punk you had was destroyed. For Loot, because its owners have complete creative autonomy and people can easily create new designs to suit their tastes, the entire community will flock to it and praise it for "looking rare." Arguably, the fact that there is no official artwork makes community-produced art more unique, as each artist has his own interpretation of Loot and can expand his knowledge more widely. < P >Loot is an evolution of NFT, betting call options on community creativity and the projects that are starting to form around it. It captures the essence of the ecosystem in both collaborative character and creativity, and infuses new ideas into areas we thought we already saw well understood.